Debunking Economics

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

Are we doing foreign aid wrong?

As the UK cuts its foreign aid budget, there is a way of making foreign aid more effective says @profstevekeen – but America won’t like it very much.

Ask Steve: Keynesian v Post Keynesian; Austrian v Chicago Schools

The Austrian School v the Chicago School v Keynesian economics v Post-Keynesianism. The differences explained on today’s Debunking Economics podcast with @profstevekeen

Who can create money to fight COVID?

QE doesn’t help expand the money supply, says Prof Steve Keen. The only way to help the economy is to expand government spending. Here’s why.

A rebirth of localism

Wealth in UK is very concentrated in the southeast. How do we make it less so? I discuss local banking, administration, politics, and money with Steve Keen.

Introducing People’s Bonds, putting government debt to work

Could some of the bonds issued y government be given to people as a form of basic income? So, when times are tough, government debt is highest, and people get more? I discuss the idea with @profstevekeen o the latest Debunking Economics podcast.

The practicality of a job guarantee

Would a job guarantee resolve the battle between inflation and unemployment? Conventional economists argue that when the labour market is tight – and there are few jobs to go around – people ask for more money and that creates inflation. When there are very few jobs – like now – inflation is much lower. The counter argument, from Modern Monetary Theorists, is that a job guarantee would reduce this flux, whilst improving the lifestyles and wellbeing of the population. This week Phil Dobbie asks Steve Keen whether the MMT have got the logic right and, even if they have, can it be practically applied?

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The mythical world of NAIRU

Even now, central banks cling to the idea of NAIRU – a point at which unemployment gets so low inflation kicks off. But, with the US fed now expecting interest rates to remain close to zero for three years at least, Phil Dobbie asks Prof Steve Keen whether they have they abandoned the idea of NAIRU?

Nordhaus is the climate’s worst enemy

William Nordhaus has made some spurious claims when arguing that climate change won’t be too detrimental to our economy.

Goodbye Shinzo, Farewell Abenomics?

Will the end of SDhinzo Abe’s poitical career spell the end to Abenomics and a return to fiscal conservatism? And at what cost?

Can MMT solve the COVID-19 debt problem?

Whether it’s the fiscal policies of the government or the monetary policies of the central bank, it all still revolves around using money that wasn’t around a few months ago.

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