Debunking Economics - the podcast

Phil and Steve discuss the escalating global energy crisis and Australia’s precarious response. They critique the government’s move to lower fuel prices by cutting excise taxes and GST, arguing that while it offers short-term relief to the working class, it fails to address the critical issue of supply and cons...

In this episode of the Debunking Economics podcast, Phil Dobbie and Steve Keen explore the core of economic theory: the definition of value. They contrast the classical cost of production theory with the neoclassical focus on subjective utility, arguing that while neoclassical models often fail mathematical rig...

This week Phil and Steve examine the concept of compound interest and its inextricable link to exponential growth in a world with finite resources. They discuss how interest was historically viewed as a sin—the crime of usury—across major religions until the industrial revolution provided the physical growth an...

Phil points out that the US is likely to spend $1.5 trilion on defense/offense spending this year. Acknowledging that sovereign currencies can essentially create money to fund defense, doesn’t there get a point where too much is just too much? A significant portion of this expenditure flows to major defense con...