Debunking Economics

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

Nordaus’ Climate Model Debunked

William Nordhaus won a Nobel prize for his work on climate change and the economy. Steve Keen talks about one sizeable flaw in his modelling.

Fact-checking Friedman

Milton Friedman influenced a generation of politicians – yet so many of his arguments were flawed. Listen to a few of them.

What’s a country’s optimum population size?

Is there an optimum size for a country’s population – from an economic and ecological standpoint. I ask Prof Steve Keen.

Were mum and dad right about saving?

Did your mum and dad teach you to save money rather than borrow? It was better to have cash than be in debt. I talk to Prof Steve Keen about how the last few decades have seen a total turnaround in that thinking.

Running knowledge economies using production-based theories

Are we trying to apply theory developed for production-based economies, on economies driven by knowledge? It’s worse than that says Steve Keen.

Is the Euro to blame for European disunity?

The European economy seems to have found itself in sharp reverse, possibly heading into a continent-wide recession. Italy is already there, Greece has witnessed thousands leaving the country to find jobs, and the yellow vest protests show happy unhappy the French are. Then there’s Brexit, of course. In this edition of the Debunking Economics podcast, Phil Dobbie asks Prof Steve Keen how much we can blame the Euro for the perilous state of the European economy.

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Capital gains tax – a failed experiment in growth

Taxing capital gains less than income tax encourages risk taking and entrepreneurship, which spurs economic growth. So the theory goes.

Productivity through growth – why it makes sense to run the economy hot

Was Dutch economist Verdoorn right when he declared that people are productive when the economy is doing well? A positive spiral. Steve Keen says yes he was, but not necessarily for the right reasons.

Where do you draw the line on migration?

There are pros and cons to migration, so where do you draw the line. I discuss with Prof Steve Keen in this week’s Debunking Economics Podcast.

The Future of Banks

Do banks have a future or will Fintech companies take over. Prof Steve Keen says they can only go so far, without a bank’s ability to create money.

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