Debunking Economics

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

Bank Collapses, All Over Again.

We look at the state of banks around the world and economies teetering on the edge. If we are to face another global financial crisis, driven by bank collapses, how do the circumstances compare with 2007-8?

Is Productivity Really That Important?

Figures on productivity can be misleading, and hide the growing inequality in society. There are better measures, Steve Keen believes.

Why Debt is Like Sex With Accountants

Steve Keen talks the importance of double entry book keeping – something accountants might find more exciting than sex. If they even know what that is.

National debt and private debt – how one can help the other

Why is it that we expect our governments to operate without borrowing, whilst many of us are mortgaged to the hilt?

How Much is Free Trade Costing Us?

An explanation on why Ricardo’s theories on comparative advantage don’t hold true in the real world. Starting with the the industrialisation of Japan.

Influencing the Speed of Money

Milton Friedman had a theory that the wealth of a nation was determined by the amount of money and the velocity of that money. So shouldn’t we be trying to speed things up.

Austerity is Chipmunk Thinking

Is the government’s austerity programme the same as chipmunks hording nuts for the winter. Fine if we want the economy to go into hibernation.

Monopolies – a Necessary Evil?

All companies do not have to be an equal size for perfect competition. Steve Keen argues that the best outcomes occur when businesses form a “power law” structure.

Trump won because trickle-down economics doesn’t work

Trump’s unexpected win reflects the dissatisfaction of huge swathes of disenfranchised voters across America.

Brexit is Needed to Bring Down the EU

Steve Keen’s thoughts are that the concept of the EU, as it stands, is so abhorrent that a Brexit is needed to encourage others to do the same and pull the whole thing apart.

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