Debunking Economics - the podcast Titelbild

Debunking Economics - the podcast

Debunking Economics - the podcast

Von: Steve Keen & Phil Dobbie
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Economist Steve Keen talks to Phil Dobbie about the failings of the neoclassical economics and how it reflects on society.

Hosted on Acast. See acast.com/privacy for more information.

Copyright 2016 . All rights reserved. Sozialwissenschaften Wissenschaft Ökonomie
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  • The unrelenting progress of winner takes all economics

    The unrelenting progress of winner takes all economics
    Jul 17 2026
    This week Phil and Steve talk about the staggering accumulation of capital, which has ratcheted up since the pandemic. In the US the top 0.1 percent of companies hold 88 percent of all corporate assets. In 2017, the top 10 S&P companies accounted for 20% of the market cap of all 500 companies, now they account for 37%. And its not because these companies are good. It’s because the nature of products today gives them a stranglehold on their customers, however bad their offering. Steve calls it the ‘shitification’ of business and Phil managed to get Microsoft’s AI to admit just how bad their own products are. ‘Held together with duct tape’ was the gist of it. So bad products, capital accumulation, income and wealth diversity – and governments do nothing but embrace it all, ignorant of what damage it is doing to society.

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    42 Min.
  • Too slow for zero?

    Too slow for zero?
    Jul 7 2026
    This week Phil and Steve confront the mathematical and environmental reality of a "zero growth" future, sparked by a debate over the deflationary traps of finite currency systems like Bitcoin. Steve thoroughly dismantles standard neoclassical theories of "decoupling"—the fantasy that global economies can indefinitely expand their wealth while reducing energy consumption—exposing how mainstream economic models trivialise energy as a minor production input. By presenting real-world data showing a linear, lockstep relationship between global energy use and gross world product over the last 50 years, the hosts argue that modern capital is merely a conduit for turning energy into useful work. Ultimately, they outline the profound structural challenges of transitioning to a deliberate zero-growth framework, explaining why managing a massive, debt-leveraged economic downshift is a biophysical necessity for the planet, yet an absolute impossibility under our current credit-driven capitalist architecture.

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    43 Min.
  • Challenges for the reserve currency

    Challenges for the reserve currency
    Jul 2 2026
    How much longer can the United States rely on the US dollar to dominate the global financial system, and what happens when the cracks finally start to show? In this week's Debunking Economics podcast, Phil Dobbie and Professor Steve Keen travel back to the 1944 Bretton Woods conference to revisit John Maynard Keynes's ultimate lost argument. Steve details how Keynes's visionary proposal for a global clearing union and an international currency—the Bancor—was explicitly designed to penalise both hoarding surplus nations and debt-ridden deficit nations, spreading wealth to developing countries and preventing destructive "beggar-thy-neighbour" tariff wars. By rejecting Keynes's framework in favour of institutionalised US dollar hegemony, the modern global economy has instead trapped itself in a cycle of systemic trade imbalances and ballooning private debt. Tune in to explore why today's aggressive tariff landscapes are exposing the structural fragility of the greenback, whether Alternative Modern Monetary Theory (MMT) baseline assumptions are entirely wrong about trade, and what a chaotic shift away from the world's primary reserve currency means for global stability.

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    39 Min.
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