HeyJaredDebunking Economics - the podcast
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.
- Indexed episodes, last 90 days
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- Sep 9, 2026
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- Jul 7, 2026
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What did Keating do for Australia? (opens the original)
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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 b
The risks of hedging (opens the original)
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In this episode, Prof Steve Keen and host Phil explore the complexities of hedging, its applications, pitfalls, and its impact on markets and the economy. Hedging, rife in the financial and commercial world, is designed to protect our investments. If prices of our investments go down, or the cost of our business inputs go up, hedging is the insurance that stops things getting too bad. But does it work? Steve argues it doesn’t work when there’s financial crisis - when all prices go the same way.
Burnham on Buying British (opens the original)
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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 th
Ways to foster innovation (opens the original)
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Unless you are one of the tech bros, it is difficult for anyone to push on with innovative ideas, probably why the world seems reliant on the US for the next big thing. If you not running a Megacap getting money for a new idea is virtually impossible, particularly in the early stages. Even government schemes are focused on reducing risk, to the pint that they offer little more than is available from the commercial finance sector. Steve says China has a better idea, but for those countries that d
Do we actually need bonds? (opens the original)
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There’s only one reason a government issues bonds. It’s so their account with the central bank is not overdrawn. It’s only regulation that stops the central bank from saying a rapidly expanding deficit is fine. After all, it’s an indicator of how much government money has gone into supporting the private sector. But economists and finances see that as monetising finanacing, and it’s a no no. Instead, regulations insist bonds are issued to the value of the government’s spending deficit. But what
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