Debunking Economics - the podcast

Steve and Phil have described the island of Coinucopia in previous editions of the podcast. It started as a place where only coins were legal tender, and the supply of coins didn’t increase. They expl...

29 Jan 202545min

Rachel Reeves, the UK Chancellor, has fallen into the debt-trap argument. She says she is focused on growth, but she is also determined to balance the budget. Cuts to government spending is part of th...

22 Jan 202537min

There are, its estimated, 8.2 billion people on the planet. The UN projects that the world's population will reach 9.7 billion by 2050 and 11.2 billion by 2100. We won’t reach that, says Steve Keen. E...

15 Jan 202539min

Last week Phil introduced us to the island of Coinucopia, where only a limited supply of gold coins could be used to keep the economy functioning. But the island is suffering from very slow economic g...

8 Jan 202544min

This week Phil introduces Steve Keen to the fictional island of Cornucopia. It’s a simple place, where the only trade takes place with gold coins. Banks are not allowed to give loans, and the money su...

1 Jan 202530min

Elon Musk has been moaning that he pays too much tax. He wants to keep more of the $14 billion or so that he earns each year. But has he got a point? Do we need to the opportunity to become incredibly...

25 Des 202442min

When central banks declare a new interest rate, how does that magic into existence? Steve explains how they trade in bonds, to drive yields close to their target rate. If they are buying up bonds held...

18 Des 202439min

There’s a common myth around banks. That banks are the intermediaries who collect deposits from customers, keep a bit in reserve, then lend out the rest at a higher interest rate. That argument then e...

11 Des 202445min