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The economics of irresponsibility
Season 1 Episode 428
The classical economic assumption, from the days of Adam Smith, is that we all have free will and this freedom ensures the best possible outcomes for…
1 year, 9 months ago
Britain’s capex crisis and how to fix it
Season 1 Episode 427
Ever wondered why Britain’s roads are riddled with potholes, why the trains keep breaking down and why there aren’t enough hospital beds? Simple. Bri…
1 year, 9 months ago
Co-ops change the game
Season 1 Episode 426
Steve Keen says he builds his economic model based on the motivation of three types of actors. First, the worker, who wants to maximise his or her wa…
1 year, 9 months ago
The cycles of the economy
Season 1 Episode 425
What causes an economy to fall from a peak? Many economists will argue it’s exogenous shocks but, as Phil and Steve discuss, there’s not too many of …
1 year, 10 months ago
The War Dividend
Season 1 Episode 424
It’s a sad fact that war can pay. The US arms industry is one major beneficiary. The UK is a long way behind, but it also a big supplier of armaments…
1 year, 10 months ago
Have marketers made Marx surplus to requirements?
Season 1 Episode 423
Phil tells Steve that he’s always struggled with Karl Marx’s idea of surplus value. The idea that workers work for themselves, then a bit more to cre…
1 year, 10 months ago
Why is the US economy doing so much better than Europe?
Season 1 Episode 422
Europe and the US are both recovering from the same problem – COVID and the inflation that followed. But last week the Fed in the US dropped interest…
1 year, 10 months ago
The Aggregate Problem
Season 1 Episode 421
The UK’s unemployment rate is 4.1%, the inflation rate is growing at 3.1% and the economy is growing at 0.6% quarter on quarter. That’s how the econo…
1 year, 11 months ago
We fought the pandemic and the war won
Season 1 Episode 420
The pandemic was the biggest economic disturbance since the second world war. In both cases supply chains were severely disrupted, either by German U…
1 year, 11 months ago
Disposable Jobs
Season 1 Episode 419
A couple of years ago, when warning of the need to fight inflation, Jerome Powell, Governor of the US Federal Reserve says interest rate would rise a…
1 year, 11 months ago