))
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.
…
continue reading
Each week Phil Dobbie and Roger Hearing get to grips with one issue that impacts our lives. It could be economic, social, technological or geopolitical. Whatever the subject, they'll talk to the experts who can give help explain what's really going on. And Phil and Roger back it up with their own research and opinions. It's half an hour to get across one of the key issues of the time, and they promise, it'll never be boring. Hosted on Acast. See acast.com/privacy for more information.
…
continue reading
Balls Radio is like talk radio, but for thinking people. Now a short regular occurrence, Phil Dobbie offers his opinions on what's happening, in the UK and overseas: politics, social policy, economics, science, religion. Yes, it's another, slightly overweight middle-aged white man telling the world how it should be. But there's nothing alt-right about Balls Radio. And we try and have fun along the way.
…
continue reading
Last year net migration in the UK reached 745,000 people. A new record, which amount to more than 1% growth in the population. It’s an unsustainable population growth but Steve Keen argues growth on the planet as a whole is unsustainable. He worries that as climate change destroys food production migrants and UK locals alike will be queuing for rel…
…
continue reading
T
The Why? Curve
1
A tax cut that’s good for Britain or a last-ditch hope for the Tory party?
34:37
34:37
Play later
Play later
Lists
Like
Liked
34:37
Jeremy Hunt delivered his Autumn statement this week, with 110 policy measures. The most significant of those was a 2% cut in National Insurance contributions. Roger and Phil ask Simon French, Chief Economist and Head of Research at UK investment bank, Panmure Gordon, whether the main aim of the cuts was to bolster the chances of a win for the Cons…
…
continue reading
George Osbourne was the UK Chancellor wedded to austerity. “More cuts, more difficult decisions” he said at the start of 2014, as he struggled to get the British budget back into surplus. But regular listeners to this podcast know that a government budget in surplus is sucking money out of the economy. Steve Keen reminds us of the logic that shows …
…
continue reading
Drill, baby, drill - but does it make sense to hand out, every year, new North Sea extraction licences for oil and gas as the UK government has promised? Aren’t we supposed to be ending our reliance on fossil fuels? Or is it essential for energy security to harvest what we have on our doorstep? And is the cost of a more rapid transition to renewabl…
…
continue reading
Last Wednesday Optus phone, mobile and internet users in Australia went without and sort of service for a full working day, starting from about 4 in the morning. At he same time, Thames Water in Surrey were slowly connecting back customers who had not had water supplies since the previous Saturday morning. Why are things we have always assumed we c…
…
continue reading
Should animals have rights? Should dogs and cats be able to sue you for not feeding them on time? Should farm animals be able to get an injunction to stop us eating them? There’s a growing movement to recognise that many of our fellow creatures are sentient, feel pain and loss, and therefore, perhaps, should have legal rights. But how could this wo…
…
continue reading
D
Debunking Economics - the podcast
1
AI – overhyped or capable of great things?
45:51
45:51
Play later
Play later
Lists
Like
Liked
45:51
Everyone is talking about AI right now. Rishi Sunak’s new best friend is Elon Musk, who has been over in Britain to talk about it and the danger it presents. ‘Civilization destruction’ is how he described it. But, whilst that might be a long-term concern, isn’t the short-term danger of more concern. Liker deep fakes. Or the rising use of energy by …
…
continue reading
T
The Why? Curve
1
AI - technology breakthrough, or the end of humanity?
39:06
39:06
Play later
Play later
Lists
Like
Liked
39:06
Artificial intelligence is everywhere - and politicians and business leaders are rushing to get on top of what could be an advance bigger than the Industrial Revolution. But could it also be a risk to human life on the scale of an asteroid collision or nuclear war? Is there any practicable way to control something we barely understand? Or will caut…
…
continue reading
D
Debunking Economics - the podcast
1
Does Andreessen need a dose of techno realism?
40:01
40:01
Play later
Play later
Lists
Like
Liked
40:01
Marc Andreessen is the brains behind the Mosaic web browser, that paved the way for the web interfaces that made the Internet useable. He’s, quite rightly, a billionaire. You could even say he has delivered a social surplus, in that we have all benefited from his invention to a value many more times than we was rewarded with personal income. Well d…
…
continue reading
Accusations of attempted genocide from one side of the current Middle East crisis, and furious claims of anti-semitism from the other, show how deeply perceptions of racism still inform global conflicts. But what causes racism? What is the basis of the fear and anger it creates? Has it always been part of human society? How do we deal with it in a …
…
continue reading
D
Debunking Economics - the podcast
1
Corporate Bullsh*t and what it’s doing to us
45:01
45:01
Play later
Play later
Lists
Like
Liked
45:01
Entrepreneur Nick Hanauer says he is one of the richest 0.1% of people, but he’s a defender of the people. That’s why he’s exposed the lies we are fed in his latest book ‘Corporate bullshit - exposing the lies and half-truths that protect profit, power and wealth in America’. Once you realise it’s not about facts, it’s about power, it changes how y…
…
continue reading
It’s a dangerous moment in one of the world’s most volatile regions. How far will Israel go to avenge the brutal killings inflicted by Hamas? Will the slaughter of innocent Palestinian civilians change global sympathies? Will Israel get bogged down in a long bloody battle inside Gaza. And will Iran and Lebanon get dragged into a widening conflict t…
…
continue reading
A simple challenge on the podcast this week – how do you fix world poverty? When he was President of the World Bank Jim Yong Kim set a target of ending world poverty by 2030. In 2019 just 8.4 percent f the global population were living in extreme poverty. Sadly, the pandemic added another 70 million people live below the extreme poverty line, lifti…
…
continue reading
Labour has a real chance of forming the next government, but does it have the sense of mission, the “vision thing” to carry voters with it? Matthew Flinders, Professor of Politics at Sheffield University tells Phil and Roger that Keir Starmer is still on course to lose next year’s election, unless he and his party can uncork some of the spirit that…
…
continue reading
Rishi Sunak is seemingly proud to have cancelled the only real nation building project Britain has had for decades. Instead, the money will be spent on sticking-plaster solutions to existing infrastructure, without any business case or overarching strategy. The reason? It all got too expensive. The other reason, Mr Sunak obviously thinks it’s a vot…
…
continue reading
Where are the Conservatives going? Into opposition next year, almost certainly. But what sort of party will it be? Are the Tories becoming a far-right populist fringe, wedded to harsh rhetoric on immigration, culture, crime, gender and Europe? Or will a heavy defeat at the ballot box force the most successful political organisation in Europe to mov…
…
continue reading
D
Debunking Economics - the podcast
1
Does human behaviour render all economic models useless?
44:13
44:13
Play later
Play later
Lists
Like
Liked
44:13
Economists like to believe human behaviour is predictable. Otherwise, they probably wouldn’t have a job. Steve Keen argue that we do tend to behave like the rest of the herd, but how many herds are there? Phil asks if economists need to develop the sort of demographic segmentation modellers that marketers use? It’s certainly a long way from the bas…
…
continue reading
T
The Why? Curve
1
Who are you really? Online identity wars.
42:32
42:32
Play later
Play later
Lists
Like
Liked
42:32
Should we be able to be anonymous online? If we all knew who we were, would the conversation be more civil? Would the bots and trolls be exposed for what they are? Or would it open vulnerable people to attack - dissidents pursued by hostile regimes? Would the free speech at the heart of the net disappear? Dr Catherine Flick, reader in Computing and…
…
continue reading
Liz Truss is back. She kept a fairly low profile after very short tenure as the UK Prime Minister, but popped up again for a speech at the Institute for Government, arguing that she was right about supply side economics and the need to fight against 25 years of economic consensus. She seems to think if everyone had read Milton Friedman the world wo…
…
continue reading
After eighteen months of fighting in Europe’s biggest conflict since 1945, is there any sign of an end? Tens of thousands of lives lost and billions of dollars spent, but the frontlines have barely moved. The weather will shortly bring land warfare to a halt - when it resumes in the spring, will Ukraine’s new western weaponry deal a knockout blow t…
…
continue reading
The US dollar is creating real problems right now. Speculators are buying it up as US Treasuries (bonds) offer higher yields at lower prices than other forms of sovereign debt. US shares are also proving popular as talk of a US soft landing intensifies, suggesting they’ll be more scope for company growth in the US than just about anywhere else. All…
…
continue reading
Should the NHS be buying anti-obesity drugs? Should councils be subsidising fruit and vegetables? Or is it better to spend scarce resources on antibiotics and cancer medicines? How do we weigh up the best purchases to get the healthiest outcomes for all of us? With a health service in a deepening crisis of resources, Joan Costa-i-Font, Professor of…
…
continue reading
D
Debunking Economics - the podcast
1
A zero growth economy – how bad would it get?
42:16
42:16
Play later
Play later
Lists
Like
Liked
42:16
There’s a vain hope in investment circles, and amongst politicians, that we can still enjoy economic growth on the road to NetZero. There are those who believe that we can decouple our economic growth from our consumption of fossil fuels. In other words, we can continue to enjoy growth driven capitalism whilst avoiding the impacts of catastrophic c…
…
continue reading
Are museums showing their age? Displays of dusty objects, looted or stolen during the imperial past, now, it seems not even safe in their cases. Is it time to reconsider what our museums should hold? And how we represent our past - and the past of other cultures? Dan Hicks, Professor of Contemporary Archaeology at Oxford University and Curator of W…
…
continue reading
Are we earning too much? Many of us are now spending less than we earn on day-to-day consumption items We’re putting our excess income into our future earnings, through our pension funds, who use a chunk of that the money to buy non-productive assets, liking investing in shares on the secondary market, to no-benefit of the companies we invest in. P…
…
continue reading
The 45th president of the United States will go on trial next March just as the campaign hots up to install the next chief executive of the world’s most powerful democracy. It will be the most turbulent election year since the civil war, with the prospect that Donald Trump could be competing from inside a prison cell. Joe Biden will be the oldest p…
…
continue reading
If he managed to stay out of gaol and makes it to the White House, Donald Trump has proposed a flat 10% tariff on all goods coming into America. He’s called it the Ring Around the Collar of America – which has led some to suggest the policy is a nasty stain that will be difficult to get out. But as phil Dobbie discovers, Trump has one supporter in …
…
continue reading
Where have they all gone? The UK’s economically active workforce has shrunk. More of us are staying at home - some from ill-health, some retired early, some have given up looking for employment. At the same time, businesses are complaining they can’t fill posts, and unemployment is at a record low. So wages have to rise to attract the few who might…
…
continue reading
D
Debunking Economics - the podcast
1
How the finance sector is underestimating the risk on climate
44:59
44:59
Play later
Play later
Lists
Like
Liked
44:59
Recently Steve was commissioned to write a report for Carbon Tracker, an independent think tank offering in-depth analysis of the impact of climate change and energy transition on the finance industry. Inside “Loading the DICE Against Pensions” he looks at the reasons why pension funds have vastly underestimated the impact of climate change on inve…
…
continue reading
China is dealing with deflation and stagnation - the world’s second biggest economy has failed to bounce back out of Covid, and that will affect us all. So why is this happening, just as most other major economies are beginning to emerge from post-Covid inflation? Is it the iron control of the Communist Party on a capitalist system? Is it Chinese c…
…
continue reading
D
Debunking Economics - the podcast
1
BRICs wouldn’t be silly enough to develop a gold-backed currency would they?
32:39
32:39
Play later
Play later
Lists
Like
Liked
32:39
There has been lots of speculation about BRICs countries working to develop a new trading currency, to enable trade without the reliance on the US dollar. There’s also talk that maybe this new currency will be backed by gold? Many suggest this will be a challenge to western fiat money. There’s a suggestion that such currencies will lose value again…
…
continue reading
Are there any Conservative MPs confident of keeping their seats in next year’s election? The awful poll numbers keep rolling in, along with gloomy economic headlines and a sense of a government in office, but not in power. Can the Tories pull out of their nosedive? Or is Europe’s most successful vote-winning political force doomed to a defeat as sp…
…
continue reading
D
Debunking Economics - the podcast
1
Did we experience a Pandemic-style People’s QE?
34:50
34:50
Play later
Play later
Lists
Like
Liked
34:50
QE was big news before the pandemic. Then, as governments issued bailouts to keep us at home, central banks went into overdrive, buying up the mushrooming bond issuance from government. In some ways, it was a sort of People’s QE, because the money was finding its way directly into people’s bank accounts. So, how does that compare to the QE before w…
…
continue reading
Should a business be able to choose its customers? If a bank doesn’t support your politics, should they be able to de-bank you? Nigel Farage’s closed account has seen the resignations of the heads of NatWest and Coutts, but will it also see a change in the rules to prevent discrimination on grounds of political opinion? Dr Aine Clancy of Liverpool …
…
continue reading
