Debunking Economics

Phil talks to Prof Steve Keen on the lies and misunderstands of the economics profession

Four ideas for the G20

Phil Dobbie and Prof Steve Keen work through four ideas that could change the way the economy works – for the better.

We’ve got it all wrong on the role of tax

Why tax levels should be more to do with the government controlling the level of inflation in the economy and less to do with raising revenue to pay for their own expenses.

Central banks ignore credit at our peril

The world’s Central Bankers have been meeting up in Portugal this week and seem to have colluded on the idea of raising interest rates sometime soon. It looks like the UK, Europe and Canada are in on it but, Professor Steve Keen reckons, they’ll soon be eating humble pie. Any rise in rates right now will quickly be reversed, because the bankers are ignoring the role of credit. Find out why that is so important in this free edition of the Debunking Economics Podcasts with Phil Dobbie and Steve Keen.

To hear more of these podcasts pick a plan in the right column of the Debunking Economics website (not the mobile app). Or become a patron at https://www.patreon.com/ProfSteveKeen

Adjusting to the rise of the machines

Automation, it seems, is taking its toll. For example, based on its turnover Amazon employs less than half the staff levels of the broader retail sector. How do we plan for the age of robots?

A Greek Tragedy Brought To You By the EU

The EU and IMF have just bailed out Greece again, so it can avoid defaulting on the interest payments for its 300 billion Euro debt. How will this Greek tragedy end?

Would Corbyn Take Us Back to the Seventies Crisis?

It’s the catch cry for those who like to spread fear – Corbyn in power would take Britain back to the 1970s. Are they right?

Why salaries are going nowhere

Conventional economic theory suggests that more competition for employees should push wages higher. Why is that not happening?

Aussie House Prices Are Ready to Crash

Professor Steve Keen has predicted a house price crash in Australia before, but this time he is more certain than ever.

Is there any economic rationale in the UKIP Manifesto?

Zero net migration, changes to VAT, getting rid of inheritance tax, redirecting foreign aid to the NHS and ways of helping small business. UKIP’s manifesto is not all bad.

The Irony of Interest Rates

Classical economics assumes the economy will always arrive at an equilibrium, yet central banks spend an inordinate amount of time speculating on when they should next move interest rates, and in what direction. Why do they need to do that?

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