Debunking Economics - The podcast

#Economics #Business #Business Disciplines #Steve Keen & Phil Dobbie #Phil Dobbie #Steve Keen #Keynesian #Monetary #Money #Science #Podcasting Education #Social Sciences #MMT

1:03:38

Too many entrepreneurs get stuck on the business treadmill, hustling nonstop, unable to scale, and unknowingly stalling their growth. That’s where Dave Ramsey began. After crashing into $3 million in debt, he rebuilt from scratch, turning a small radio program into a national show with millions of listeners. With over three decades of experience in entrepreneurship, business growth, and content creation, he knows what it takes to build a lasting business. In this episode, Dave reveals the six drivers of long-term success, the five key stages of startup growth, and how he balances life as an entrepreneur and a content creator. In this episode, Hala and Dave will discuss: (00:00) Introduction (00:23) The Core Principles of Financial Freedom (05:42) Adapting to Change as a Content Creator (09:22) Balancing Content Creation and Entrepreneurship (12:34) How to Create a Clear Path in Business (15:19) The Truth About Starting a Business Today (18:22) The Six Drivers of Business Success (26:20) Shifting From Tactical to Strategic Thinking (29:44) The Five Stages of Business Growth (41:10) Leading with Care, Clarity, and Accountability (47:10) Identifying the Right Leadership Skills (48:35) Starting a Media Business as an Entrepreneur Dave Ramsey is a personal finance expert, radio personality, bestselling author, and the founder and CEO of Ramsey Solutions. Over the past three decades, he has built a legacy of helping millions achieve financial freedom. As the host of The Ramsey Show , Dave reaches more than 18 million listeners each week. He is the author of eight national bestselling books. His latest, Build a Business You Love , helps entrepreneurs navigate growth and overcome challenges at every stage. Sponsored By: Shopify - Sign up for a one-dollar-per-month trial period at youngandprofiting.co/shopify OpenPhone: Streamline and scale your customer communications with OpenPhone. Get 20% off your first 6 months at openphone.com/profiting Airbnb - Find yourself a co-host at airbnb.com/host Indeed - Get a $75 sponsored job credit at indeed.com/profiting RobinHood - Receive your 3% boost on annual IRA contributions, sign up at robinhood.com/gold Factor - Get 50% off your first box plus free shipping at factormeals.com/factorpodcast Rakuten - Save while shopping at rakuten.com Microsoft Teams - Stop paying for tools. Get everything you need, for free at aka.ms/profiting LinkedIn Marketing Solutions - Get a $100 credit on your next campaign at linkedin.com/profiting Resources Mentioned: Dave’s Book, Build a Business You Love: bit.ly/BuildaBusinessYouLove Dave’s Website: ramseysolutions.com Active Deals - youngandprofiting.com/deals Key YAP Links Reviews - ratethispodcast.com/yap Youtube - youtube.com/c/YoungandProfiting LinkedIn - linkedin.com/in/htaha/ Instagram - instagram.com/yapwithhala/ Social + Podcast Services: yapmedia.com Transcripts - youngandprofiting.com/episodes-new Entrepreneurship, Entrepreneurship Podcast, Business, Business Podcast, Self Improvement, Self-Improvement, Personal Development, Starting a Business, Strategy, Investing, Sales, Selling, Psychology, Productivity, Entrepreneurs, AI, Artificial Intelligence, Technology, Marketing, Negotiation, Money, Finance, Side Hustle, Mental Health, Career, Leadership, Mindset, Health, Growth Mindset, Side Hustle, Passive Income, Online Business, Solopreneur, Networking.…

Debunking Economics - the podcast

Series home•Feed

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.

596 episodes

Debunking Economics - the podcast

788 subscribers

updated about 22 hours ago

Series home•Feed

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.

596 episodes

#Economics #Business #Business Disciplines #Steve Keen & Phil Dobbie #Phil Dobbie #Steve Keen #Keynesian #Monetary #Money #Science #Podcasting Education #Social Sciences #MMT

All episodes

Debunking Economics - the podcast

1
Trump is half way to Keynes’s answer to deficits 42:34

22 hours ago42:34

42:34

In 1944, at Bretton Woods, 44 countries agreed to make the US dollar the world's reserve currency. This decision inflated the dollar's value, making American exports expensive and imports cheaper. Donald Trump is now addressing this imbalance with tariffs on countries with high trade surpluses. Steve suggests that adopting Keynes's proposal for a neutral Bancor currency might have been better, while Phil wonders if it's time to reintroduce it, perhaps calling it “Trump” to appeal to the President’s ego. Hosted on Acast. See acast.com/privacy for more information.…

Debunking Economics - the podcast

1
Trump. Has he lost his mind? 37:48

7 days ago37:48

37:48

It’s clear that President Trump lied to the American people about his reciprocal tariffs. Many of the countries he is imposing tariffs do not impose anywhere near those numbers on imports from America. As Phil points out, some countries, like Cambodia, that sell cheap goods to the US don’t buy from the US because they can’t afford to on their low wages. You can only have trade equalisation if you have similar income levels. Steve takes us through the formula that was sued to calculate these ‘reciprocal’ tariffs. The only resolution to the issue, says Steve, is a new currency for international trade. An idea the Americans knocked back at Bretton Woods. Hosted on Acast. See acast.com/privacy for more information.…

Debunking Economics - the podcast

1
Should we tax the rich? 44:05

15 days ago44:05

44:05

It’s often the easy excuse on how to fix the problems of wealth inequality - just tax the rich more. Former trader turned YouTuber economist Gary Stevenson argues regularly that it’ll fix a lot of the problem. He’s right that the wealthy own assets and the richer they become the more the price of those assets increases. Take land as an example. The government is on a push to build more houses to benefit lower income earners. But who owns the land those houses will be built on? The rich? So, who wins from the demand for more land? Gary’s argument is if you tax hard enough the rich will be forced to sell assets which will bring the price down. Steve’s less convinced, simply because the uber-wealthy have always found a way to avoid taxation. But he thinks the argument also ignores (or isn’t aware of) the fact that government deficits create money. Perhaps the focus should be ore on where that deficit spending ends up. Maybe we should get Gary on the podcast. Hosted on Acast. See acast.com/privacy for more information.…

Debunking Economics - the podcast

1
Will Trump drive us to a better tax system? 39:11

22 days ago39:11

39:11

It’s likely that many countries around the world will face import tariffs in retaliation for imposing a value-added-tax on American goods sold in their own country - alongside other goods, taxed equally, that are not from America. As Steve outs it this week, “What tortured brain cells have communicated to other tortured brain cells to make a proposition that VAT on imports from America is discriminatory”. Still, it looks like it might happen. And how do you resolve that situation. Do you get rid of a value added tax? Phil asks whether that could be a good thing. It’s unfair, complicated, bureaucratic and easily avoided. Would we all be better off with a transaction tax? Hosted on Acast. See acast.com/privacy for more information.…

Debunking Economics - the podcast

1
There is no energy transition happening 35:08

25 days ago35:08

35:08

Are we kidding ourselves when we talk about an energy transition? Sure, we are using more renewables than ever before, but the planet is also using more fossil fuels than ever before. Phil asks Steve whether part of the problem is that we pout faith in incumbent energy companies managing that transition. The way BP and others have switched focus back on fossil fuel exploration shows how ill-conceived that expectation was. But, irrespective of who drives the transition, is it too much to expect that we will leave energy untapped. If renewables provide a new source of energy, won’t we just use up more energy, because the more there is the greater the productivity, the better off we are. Watch the video of the podcast here: https://www.youtube.com/watch?v=ArfsehlKMo8&t=2s Hosted on Acast. See acast.com/privacy for more information.…

Debunking Economics - the podcast

1
Is there a ceiling to economic supremacy? 36:01

5 weeks ago36:01

36:01

Donald Trump is doing everything he can think off to improve the US economy. Tariffs, cutting government spending, bringing manufacturing back home, accessing more resources and lowering the cost of energy. Will it work? And, if it does, Phil wonders whether there’s a ceiling to how far the US economy can grow. Or does it grow at the expense of other countries/ In other words, Phil wants Steve Keen to explain what happens as the US, the world’s leading economy, tries to heighten its supremacy. Hosted on Acast. See acast.com/privacy for more information.…

Debunking Economics - the podcast

1
Bringing manufacturing home, the Japanese Way 41:45

6 weeks ago41:45

41:45

In a recent podcast Phil suggested that bringing manufacturing home to America won’t necessarily create jobs, because most factories will be automated. They just need one man and a dog, he said. The man to turn the machine on, and the dog to make sure he doesn’t touch anything else. That touched a nerve with Brian Hanley has spent his life refining manufacturing processes. The key ingredient suggests, is people. Elon Musk was the latest to try the lights out approach and realised it didn’t work. Instead, if the US wants to succeed with a competitive manufacturing sector, it needs to look to post-war Japan. Workers were an integral part of the refinement and adaptive nature of manufacturing processes, in part because of the company-based (rather than industry-speciifc) union structure. Listen in to find out how Japan’s adaptive approach is what’s needed if the US is to develop a successful manufacturing sector. Two books related to this, that Brian says should be required reading or every economist: - Kanban Just-in Time at Toyota by Japan Management Association - The Sayings of Shigeo Shingo by Shigeo Shingo Hosted on Acast. See acast.com/privacy for more information.…

Debunking Economics - the podcast

1
Are we giving up on climate change? 40:17

7 weeks ago40:17

40:17

Donald Trump, as the world’s highest profile climate change denier, has famously said, repeatedly, that he wants to drill baby drill, to make US energy even cheaper. It’s already half the price of Europe, and all the productivity benefits that provides. Phil and Steve talk about whether this the final nail in the coffin in a world which is paying lip service to the changes required. Is nuclear our only way to fast track a workable solution? Hosted on Acast. See acast.com/privacy for more information.…

Debunking Economics - the podcast

1
The trade war has begun 41:06

8 weeks ago41:06

41:06

Reciprocal tariffs could be coming to every OECD country if we believe everything Donald Trump says. He sees VAT as a tariff imposed on US imports, which means he wants to impose the same amount on those countries for goods they export to America. That would apply to every OECD country and, supposedly, the President has said there will be no exceptions. Does this mean a global trade war is just about to happen? Steve has been a supporter of protectionism as a way to aid growth, and understands the need for America to bring jobs back home, but not with the “bull in the China shop approach” that Trump is taking. But Phil asks whether the horse has already bolted. The web of international supply chains is well established and difficult to break. Haven’t we all benefited from lower cost goods? And even if you brought back production functions would automation mean few new jobs would be produced? In short, is Trump too late to make a difference. Will he just create chaos? Hosted on Acast. See acast.com/privacy for more information.…

Debunking Economics - the podcast

1
Do we need a reserve currency? 41:28

9 weeks ago41:28

41:28

The new US Treasury Secretary Scott Bessent recently re-iterated the US desire to remain as the world’s reserve currency, because they like a strong dollar that’s in demand worldwide. Burt he also says he doesn’t want other currencies weak, because that gives thema trade advantage. That sounds like a “cake and eat it” philosophy. This week Phil asks Steve whether the US would be better off if it wasn’t the reserve currency, and whether, in these days of electric transfers, do we actually need a reserve currency? Hosted on Acast. See acast.com/privacy for more information.…

Debunking Economics - the podcast

1
More on how money is created 35:37

10 weeks ago35:37

35:37

Phil asked Steve a lot last week about how bank create money through the loans they issue. But he has been, it’s fair to say, a little less convinced about how government deficits create money. So prepare for a light bulb moment as Steve breaks down the process that sees the government spending more, with more money moved to the private sector, and people buying bonds, effectively with new money. They also answer a couple of listeners questions -one on the impact of Donald Trump’s tax cuts, another on crypto and another on a Worgel-like supplementary currency. Which of those creates new money? Hosted on Acast. See acast.com/privacy for more information.…

Debunking Economics - the podcast

1
Coinucopia’s thriving banking sector 45:50

11 weeks ago45:50

45:50

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 explained how that created deflation and inhibited growth, so the government started adding more coins. Then they let banks issue loans. Now, what happens when the island allows banks to issue electronic loans. Actually, life becomes much simpler. Much simpler than most conventional economists would have you believe. Listen in to understand how banking now works, not just in Coinucopia, but in the real world. Hosted on Acast. See acast.com/privacy for more information.…

Debunking Economics - the podcast

1
Reeves off track on growth 37:03

12 weeks ago37:03

37:03

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 the picture, but her biggest attack has been on business, increasing tax on employment. You could argue that if you are going to tax anywhere, taxing business is better than taxing personal income, but Steve argues that anything that drives money out of the real economy will slow growth, evidenced by the latest numbers showing GDP has flat lined. Hosted on Acast. See acast.com/privacy for more information.…

Debunking Economics - the podcast

1
The population clock 39:51

13 weeks ago39:51

39:51

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. Even if we ignore climate change, we’ll exceed our capacity to support the population, and the as countries become richer their fertility rate will decline. The hope is that the natural decline happens before more extreme declines brought about by war, climate change and starvation. But, even intis best case scenario, we need to address the issue that the population is not always close to the food it needs, and economics naturally concentrates capital. Hosted on Acast. See acast.com/privacy for more information.…

Debunking Economics - the podcast

1
When Coincupia starts to allow loans and bank notes 44:20

14 weeks ago44:20