Get 3 months for $0.99 a month

LIMITED TIME OFFER
Debunking Economics - the podcast cover art

Debunking Economics - the podcast

Debunking Economics - the podcast

Written by: Steve Keen & Phil Dobbie
Listen for free

About this listen

 Economist Steve Keen talks to Phil Dobbie about the failings of the neoclassical economics and how it reflects on society.

Hosted on Acast. See acast.com/privacy for more information.

Copyright 2016 . All rights reserved. Economics Science Social Sciences
Episodes
  • What it means to be Austrian

    What it means to be Austrian
    Dec 10 2025
    So, what does it mean to be Austrian? And we are not talking about wearing Lederhosen every weekend, going on long hikes through the mountains and eating schnitzel. Instead, the focus in this podcast is on the Austrian school of economics. They are two very different things, The country has moved on, but the theory remains. This week Phil and Steve look at the principles of Austrian economics – what they got right (partially) and what they got wrong. They contrast it with neoclassical economics, exploring the significance of equilibrium and innovation in capitalism. The discussion also touches on the concept of praxeology, the limitations of introspection in understanding economic systems, and Schumpeter's contributions to the evolution of economic thought.

    Hosted on Acast. See acast.com/privacy for more information.
    Show more Show less
    49 mins
  • Bitcoin will never be a currency

    Bitcoin will never be a currency
    Dec 3 2025

    The early days of Bitcoin its proponents argued that this could be the global currency to replace fiat money. Governments the world over were issuing too much currency, leading to inflation, whilst imposing arbitrary regulations that would be impossible once authorities lost control of money.


    Steve says for that to work Bitcoin would need to be capable of the instantaneous transactions we are used to with the billions of banking transactions that happen every day. What’s more, the limited supply of Bitcoin means increases in productivity are likely to result in deflation p- a bigger enemy to the economy than rising prices.


    Instead Bitcoin has become just another asset class. The initial argyument that it served as a useful hedge against a downturn, in the same way gold does. Except now Bitcoin has started to mirror movements of other assets, like shares. And speculators are buying into it, often in highly leveraged positions. Risky?


    Still the argument remains that Bitcoin could be a workable currency. One that consumes a lot of energy in the process. When energy becomes really scarce, says Steve, Bitcoin will be the first thing to be turned off.


    Hosted on Acast. See acast.com/privacy for more information.
    Show more Show less
    47 mins
  • Privatising the planet

    Privatising the planet
    Nov 26 2025
    How far are we willing to go in accepting the corporate takeover of just about everything. In Britain public utilities were sold off, so companies could profit from selling resources whilst minimising maintenance of facilities. Phil asks the question how Britain’s water infrastructure is in such a state of repair in an industry that makes £13 billion per year. Then there’s the moves to strangle publicly funded media and privatise the funding of health. But it gets worse. Britain’s freeports are local areas run jointly by local authorities of local business. Democracy has become just another seat at the table. And there’s a proposal from, one consortium for a new town in Britain that is run by a corporation where residents sign a contract for services. No local democracy. Such towns already exist in many parts of the world. Is that the conclusion - we privatise everything and we are all at the whim of big business. Elon Musk is already working on how to create your artificial best friend.

    Hosted on Acast. See acast.com/privacy for more information.
    Show more Show less
    48 mins
No reviews yet