Debunking Economics

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

Do poor people make the rich richer?

Karl Marx argued that the bourgeoisie got rich by creaming their wealth off the proletariat who did all the work. Was he right?

Does misinformation feed capitalism?

Financial markets operate on hearsay for the privileged few. What if more people had more information – would the market be less imbalanced?

Government debt, when does it become a problem?

Too much government spending can raise inflation, which reduces the attractiveness of government bonds, making it more difficult to raise money – right or wrong?

Which creates growth – supply or demand?

Which comes first, demand or supply? If you want to grow an economy should you offer money or tax cuts to increase demand, or should you fund jobs to create supply and wages?

Is Trump right about currency manipulation?

Is Trump right about that China, Japan and Germany are manipulating their currencies and, if so, will a tariff barrier really rectify the problem, or just start a trade war?

Where QE is failing – time for a people’s QE

QE is failing to drive growth. What’s the theory behind it and how should it be redesigned.

Is your money safe in the bank. Or is it time to buy gold?

When currencies collapse, gold is the safe-haven that speculators turn to. Is Gold safer than keeping money in a bank?

Do Banks Really Work for Us?

Banks don’t just act as an intermediary, they also create money, and focus on encouraging us all to build up debt. So, can we regulate banks to ensure they work in ways which are best for the community?

How does the government choose to spend?

If public sector spending is a good thing, particularly when the economy is experiencing hardship – but how do they determine what’s best to spend money on?

Fixing the Issue of Hereditary Wealth

Would a firm inheritance tax help reduce the rich poor gap? How something needs to be done before civil unrest reaches fever pitch.

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