Debunking Economics - the podcast

Author: Steve Keen & Phil Dobbie

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.
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Language: en

Genres: Business, Education

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What it means to be Austrian
Episode 485
Wednesday, 10 December, 2025

So, what does it mean to be Austrian? And we are not talking about wearing Lederhosen every weekend, going on long hikes through the mountains and eating schnitzel. Instead, the focus in this podcast is on the Austrian school of economics. They are two very different things, The country has moved on, but the theory remains. This week Phil and Steve look at the principles of Austrian economics – what they got right (partially) and what they got wrong. They contrast it with neoclassical economics, exploring the significance of equilibrium and innovation in capitalism. The discussion also touches on the concept of praxeology, the limitations of introspection in understanding economic systems, and Schumpeter's contributions to the evolution of economic thought. Hosted on Acast. See acast.com/privacy for more information.