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.

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Copyright 2016 . All rights reserved. Sozialwissenschaften Wissenschaft Ökonomie
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  • 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.
  • The world’s anti-migration shift to the right

    The world’s anti-migration shift to the right
    Jun 23 2026
    Phil and Steve confront the global surge in anti-immigration rhetoric and right-wing political momentum, tracing its roots to the structural failures of neoliberalism rather than the actions of migrants themselves. Steve dissects how decades of fiscal paranoia, deregulation, and slashed public spending on health, welfare, and education systematically eroded working-class security, turning migrants into easy scapegoats for falling real wages and housing shortages. They evaluate how corporate-led migration has been historically weaponized by business elites to depress labour costs at the expense of local training, while contrasting the economic benefits of "capital deepening" through technology against raw "capital broadening" through rapid population expansion. Ultimately, it paves the way for Pauline Hanson and Nigel Farage tocapitalise on very real working-class anxieties, but their adherence to the exact same deficit-obsessed economic playbooks will only invite further structural chaos.

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    48 Min.
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