Debunking Economics - the podcast

This week Phil and Steve look at cost-plus inflation, driven by rising wages. Right now its being given as the reason that services inflation is remaining sticky and that’s why many central banks are reluctant to reduce interest rates. Steve says it’s a far more sensible assumption than the neoclassical belief,...

Is ir fair enough to totally write off Ricardo’s theory of competitive advantage. Certainly, President Trump isn’t an advocate, using tariffs to protect America’s domestic industries from those countries that produce stuff cheaper. A broad economy, producing a range of products and services, is preferably to a ...

The UK Labour party has struggled to forge a recovery for the beleaguered economy. Rachel Reeves is intent on reducing the government deficit. Her first attempt involved increasing the National Insurance contributions made by businesses – in effect, raising a payrolls tax. In short, a reason for companies unsur...

Before he was the UK Prime Minister at war with the Nazis, Winston Churchill ws the UK’s Chancellor. He played it very straight, with a preoccupation with balancing the budget. He also took the Uk back onto the Gold Exchange, despite warnings from Keynes that the mocve would be deflationary. In 1928 he reinforc...