Show Notes
The UK Prime Minister Andy Burnham has said he wants government departments to focus on buying British, The UK state spends roughly £300bn to £400bn a year on public procurement—and currently treats it merely as a bureaucratic exercise to secure the absolute cheapest upfront contract, rather than using it as an economic driver. Steve says it’s a step in the right direction, but Phl asks what is it that Britain makes that the government would want to buy? And how long before the usual argument that its costing more and who’s going to pay for it? Hosted on Acast. See acast.com/privacy for more information.
More from Debunking Economics - the podcast
Fear and greed don’t affect everyone equally. In this episode, Phil Dobbie and Steve Keen explore how debt, financial bubbles, and economic policy can reward those at the top while leaving workers, renters, and households to carry more of the risk. From market crashes and speculative booms to the growing role of private debt, they unpack why inequality persists—and why fear has become an everyday reality for so many. Hosted on Acast. See acast.com/privacy for more information.
Phil and Steve unpack the case for a renewed relationship with Europe, from trade and supply chains to freedom of movement and political sovereignty. They debate whether the euro still makes sense in an era of low-cost digital payments, why a shared currency can leave national economies exposed, and what European cooperation should actually look like.
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Equilibrium is a fantasy—and this conversation explains why. Phil and teve explore how the belief that markets naturally self-correct has shaped economic policy, contributed to the failure to anticipate the Global Financial Crisis, and continues to distort debates about bond yields, government intervention, debt, and inflation. From Irving Fisher’s original models to today’s financial markets, AI bubbles, and rising government bond yields, Keen shows why capitalism is better understood as an “always moving equilibrium” than as a system that ever truly settles. The discussion also looks ahead to his forthcoming book, How Economists Will Destroy Capitalism, and the urgent consequences of treating elegant economic theories as if they describe the real world. Hosted on Acast. See acast.com/privacy for more information.
Paul Keating is often sold as the man who modernized Australia - but what if the reforms that made him legendary also helped create the financialized, boom-and-bust economy we live with today? Steve argues the real story is far more unsettling. From the "recession we had to have" to the housing bubble, tariff cuts, bank deregulation, and the superannuation system, he breaks down how Keating's policies reshaped Australia in ways most people still misunderstand. If you think Keating was simply a brilliant reformer, this conversation will challenge that view. Keating was an extraordinary parliamentary orator but a dangerous believer in textbook economics. Discover how the 1987 crash and first home buyers grant helped set up the 1992 recession, and why the push toward finance over manufacturing left Australia weaker, not stronger. He also explains how Keating’s attacks on the GST, the rise of neoliberal thinking inside Labor, and the long fallout from deindustrialization still shape Australian politics today. Hosted on Acast. See acast.com/privacy for more information.