Debunking Economics - the podcast

This week Phil challenges Steve on how the futures market handles terminal risk, pointing out that oil prices slope downward over time simply because traders blindly assume the Strait of Hormuz will reopen. Steve agrees and tears into the financial sector, explaining that modern ...  Show more

This week Phil and Steve dismantle the structural shift of the global economy toward a permanent state of debt dependence. Following a critique of Steve’s recent debate on the Piers Morgan show and a revisit to last week’s discussion on th link between energy and productivity, th ...  Show more

In this episode of Debunking Economics, Steve Keen dismantles the mainstream economic obsession with "Total Factor Productivity" (TFP), labeling it a mythical construct that ignores the laws of physics. He argues that economists historically "fudged" data to credit an abstract id ...  Show more

Phil and Steve analyze the 2026 return of double-digit inflation, characterizing it as a structural cost-push crisis rather than the result of excess consumer demand. Keen argues that with Brent crude hitting $100 a barrel due to the Strait of Hormuz blockade, energy costs have b ...  Show more

In this episode, Phil Dobbie and Steve Keen dissect Bank of England Governor Andrew Bailey’s push for greater central bank independence, a move Bailey claims is necessary to shield price stability from politically motivated meddling. Steve Keen, however, isn't buying the mainstre ...  Show more