Economics In Ten is your go-to podcast if you want to learn about the lives, times and ideas of the world's greatest economic thinkers. Each episode is a fun exploration of a famous economist using ten different questions. Presented by Pete and Gav, your friendly neighbourhood economists, with technical support from Nic and music from Jukedeck - create your own atjukedeck.com
How do you know if a country is "doing well" economically? How can we say that one country is "more developed" than another? For many years incomes (GDP) and other measures of how much "stuff" a country was making were the standard yardstick but then along came Amartya Sen and changed our viewpoint on how development was measured forever. Those ideas, shaped by a childhood that spanned the partition of India, would eventually win him the Economics Nobel Prize but there is so much more to the man, even though he rejected 'The Mother Teresa of Economics' moniker. Guiding you through Sen's life and ideas as always are Pete and Gav, your friendly neighbourhood economists. Technical support is provided by 'WD40Man' Nic and music comes from Jukedeck. You can create your own at Jukedeck.com
Note - in our India quiz, Pete gets 3 out of 5 correct. In the boardgame question, there are in fact two right answers. Apologies...do not shout at the podcast when the error arises!
Are you lucky enough to own your own home or business? But do you ever stop and think about what you would do if someone tried to take it from you, or bulldoze it? Do you ever stop and reflect on the economic power that legally protected property gives you? It's very easy to take property rights for granted but one economist is convinced that they are the key to the success of capitalism and unlocking the entrepreneurial power of the developing world; his name is Hernando de Soto. So if you are interested in the ideas of the man Bill Clinton calls 'the world's greatest living economist' then have a listen and discover the potential power of 'dead capital'! Guiding you through as always is Pete and Gav, your friendly neighbourhood economists. Technical support is provided by our good friend Nic (or 'The Weaver' as we like to call him) and music comes from Jukedeck. You can create your own at Jukedeck.com.
Have you ever wanted to know about inequality but didn’t know where to start? In this latest special by Pete and Gav, your friendly neighbourhood economists, you will be guided through the economics of inequality. Along the way you will come across stocks and flows, a curve that looks like an elephant and a coefficient that has nothing to do with Aladdin but everything to do with an Italian economist. As always, it comes with lots of suggested reading and if you ever end up in government, ideas that might help to reduce inequality. Technical support is provided as always by our good friend Nic and music comes from Jukedeck. You can create your own at Jukedeck.com.
Did you hear about the psychologist that won the Nobel Prize for Economics? Sounds like the start of a joke doesn’t it? But in 2002 Daniel Kahneman won the award for the revolutionary work on "prospect theory" carried out with his colleague and friend Amos Tversky. Their work changed the course of economics by introducing the world to behavioural economics. So if you’ve ever felt like you have been tricked into buying something at a higher price or have fallen into the trap of just following the crowd, then you could do with knowing some of the behavioural biases that mean you don't quite conform to the model of homo economicus aka rational economic man (or woman). Guiding you through Kahneman’s life and ideas as always are Pete and Gav, your friendly neighbourhood economists. Technical support is provided by our good friend Nic and music comes from Jukedeck. You can create your own at Jukedeck.com
It’s Christmas!!!! But slightly different in 2020. With the coronavirus still here and a full rollout of a vaccine still distant, there might be many who face Christmas on their own or not seeing many people. Therefore Pete and Gav thought it would be the right thing to do and create another economics of Christmas! So sit down with your drink of choice, get in your favourite chair and listen to your friendly neighbourhood economists as they go through 10 questions that will teach you some economics and provide some festive cheer! You can even have a go at a Christmas quiz - can you recognise ‘Merry Christmas’ in 10 different languages or at least beat Pete’s score? Technical support (and jingle bells) as always comes from St. Nic. Music comes from Jukedeck and you can create your own at jukedeck.com. Have a merry Christmas everyone!!!
When Thomas Carlyle famously described Economics as ‘the dismal science’ it was said that it was inspired by the writing of Thomas Malthus. His doom and gloom essay on population was to have a legacy that lasted his lifetime and beyond but were his predictions correct? And if he wasn’t, why do we still talk about ‘Malthusian’ economics now? As always, your friendly neighbourhood economists, Pete and Gav will be guiding you through the numerous arguments surrounding Bob’s work and wondering whether he was just a mild-mannered vicar, a headline-grabbing egotist or just a son who wanted to prove his dad wrong. Technical support as always comes from the Drop Down Thread tea maker Nic and music comes from Jukedeck. You can create your own at jukedeck.com.
Who is the founding father of Economics? Adam Smith you say? Who told you that? We did!?! Well…do you remember that famous quote attributed to Keynes (via Paul Samuelson)? It was ‘when the facts change I change my mind, what do you do?’ and it seems that the facts may have changed. We say changed but maybe simply forgotten or ignored. Some are now making a case for Ibn Khaldun, an Islamic scholar, as the great-great-grandfather of our beloved discipline. Make up your own mind after hearing more about this fascinating man. As always your friendly neighbourhood economics Pete and Gav will guide you through the arguments and discuss how Ibn Khaldun may have got there first with many of the concepts which are are still central to Economics today. Technical support as always come from Nic and music comes from Jukedeck. You can create your own at jukedeck.com.
The summer of 2020 was the festival of sport that was never was. Many have tried to fill this gap, some with more success than others…I mean, who hasn’t enjoyed watching Simon Anthony complete a Sudoku puzzle on YouTube? Or been gripped by kitchen darts? But now it’s our turn to step up to the plate! Yes…here it is…the economics of sport. There are 10 thought provoking questions as always and guiding you through are your friendly neighbourhood economists, Pete ‘The Greatest’ and Gav ‘The Golden Boy’. Learn how John Nash might have taken a penalty and why Gav wears lucky socks. Technical support and sound effects as always comes from ‘Hands of Stone’ Nic and music comes from Jukedeck – you can create your own at jukedeck.com.
PS - Gav does know that Brazil is not in Africa!
The chances are you have heard the phrase ‘creative destruction’ but what do you know about the man that coined it? In this podcast you will find out about Joseph Schumpeter, an economist who was hard to categorise but had plenty to say. In a world where ‘secular stagnation’ has arguably become the norm, his work on entrepreneurship and innovation are as important as ever. As well as being an influential economist Schumpeter also lived what might be called a 'colourful life' which may have helped to shape his unique perspective on economics. Guiding you through as always are Pete and Gav, your friendly neighbourhood economists. Technical support as always comes from Nic - ‘The Big Dawg’ and music comes from Jukedeck. You can create your own at jukedeck.com.
Demand and Supply – the cornerstone of economics! But how much do you know about Alfred Marshall, the first man to draw the ‘Marshallian Cross’ that we all use today? Some argue his ‘Principles of Economics’ was the most influential book of the 19th Century and set the template for every economics textbook that followed. This episode is jam-packed with economics and guiding you through as always are Pete and Gav, your friendly neighbourhood economists. Technical support as always comes from b-boy Nic and music comes from Jukedeck and you can create your own at jukedeck.com.
Want to know more about Milton Friedman? The marmite of economics! You may have noticed that people either love him or hate him. Mrs Thatcher lauded him as the quintessential ‘intellectual freedom fighter’ but for others he’s the architect of a damaging neoliberalism ideology, the so-called "shock doctrine" that has damaged many societies around the world. Arguably both views are too simplistic in a world that has become increasingly binary in its thinking; perhaps there is a middle ground.
Dubbed the most influential economist of the late 20th Century, there is much to say about Friedman (as you’ll discover) and trying to guide you through as always, in an even handed manner, are Pete and Gav, your friendly neighbourhood economists. Technical support as always comes from master mixer Nic and music comes from Jukedeck and you can create your own at jukedeck.com.
The coronavirus has meant misery for many and lockdown has been unsettling for all but in many respects, it’s created an opportunity to stop and think about what kind of world we want to live in. Covid-19 has led to the world being rebooted and there are many positives that have come from lockdown that we want to share and discuss. From the darkness, we want to shine a light. In a survey commissioned by the RSA, many people have made radical lifestyle changes and 85% want those changes to continue. This is a positivity podcast and when lockdown finally ends, we want you coming out, brimming with ideas on how to make the world a better place. We only ask one question but we do it ten times in this Economics in Ten special and guiding you through as always are Pete and Gav, your friendly neighbourhood economists. Technical support comes as always from Nic, who prefers ‘Call of Duty’ to decorating and music is by Jukedeck and you can create your own at jukedeck.com. Economics in Ten – The PodBible Independent Podcast of the Year 2019.
NB - their may be the occasional audio issue; remote working has had to lead to innovations in our podcast set up!
The coronavirus crisis represents a huge challenge for humanity. We are seeing policy making at the national level that is unprecedented outside of war-time - so what might it mean for the future of economics and society in general? Will the pandemic shift the ‘Overton window’, the spectrum of “acceptable” government policies? Or will we see ‘disaster capitalism’ take advantage of the current economic breakdown? Graffiti in Hong Kong stated ‘We can’t return to normal, because the normal that we had was precisely the problem.’ but is that true? All of these questions and more will be discussed in this Economics in Ten special and guiding you through as always are Pete and Gav, your social distancing, friendly neighbourhood economists. Technical support comes as always from #boredathome Nic and music is by Jukedeck and you can create your own at jukedeck.com. Economics in Ten – The PodBible Independent Podcast of the Year 2019.
NB - for the occasional audio issues - there is the occasional lack of sync between our voices; we are still getting used to “remote working” like the rest of the country/world!
George Bernard Shaw once noted: ‘The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore, all progress depends on the unreasonable man.’ What George forgot though was unreasonable women and when it comes to Economics, Joan Robinson was the unreasonable, brilliant woman and wow…did she make progress! Sadly in the male dominated economics world, she’s rather over-looked and this needs to change. She changed the way we thought about markets, she challenged economic orthodoxy, was part of Keynes’ inner circle and offered up her own growth theories. In this new podcast, you will find out all this and more! Guiding you through as always are Pete and Gav, your friendly neighbourhood economists with technical support from Nic (check out his app – cheeky fingers). Music comes from Jukedeck and you can create your own at jukedeck.com.
PS Apologies for a brief sound outage that occurs around the 20 minute mark. You might think the podcast is over at this point but fear not you have another hour of fun/learning about the great Joan to go....
What does the dismal science have to say about the affairs of the heart? More than you imagine... You will be amazed at how much economics can teach you about love, lust and other four letter words. . In the latest of our Economics In Ten specials you'll discover how the insights of behavioural economics can help you decide whether you are with 'the one', whether capitalism is bad for your love life and most importantly how to win Love Island (with special thanks to John Forbes Nash Junior). The course of true love may never run smooth but to to help it along the way you have your friendly neighbourhood economists (and incurable romantics) Pete and Gav. As always we draw upon the technical support of the Economics in Ten team casanova Nic. Music comes from Jukedeck and you can make your own sweet music at jukedeck.com.
Economics in Ten - The PodBible Independent Podcast of the Year 2019.
We all like games don’t we? But in order to win games you need the best strategy and there is one economist who is synonymous with games and more specifically ‘game theory’. You might know him from the award winning film ‘A Beautiful Mind’ but there is so much more to know about John Nash Jr. and the Economics in Ten team want to share that with you. Along the way you will find out the best way to win ‘Rock, Paper, Scissors’, discover the huge cost (or benefit) of the nuclear arms race and what’s the market rate for a Nobel Prize medal at auction. Guiding you through as always are Pete and Gav, your friendly neighbourhood economists with technical support from our yellow trainered friend Nic. Music comes from Jukedeck and you can create your own at jukedeck.com. Economics in Ten – The Oh.My.Pod. PodBible Independent Podcast of the Year 2019.
It’s Christmas!!!! But what does Christmas have to teach us about economics? Well…quite a lot in fact as you’ll soon find out as you listen to this festive special by the Economics in Ten team. What’s the best present you can give according to economists? Should you get a real tree or a plastic one from an environmental economics perspective? What can the ‘12 Days of Christmas’ teach us about inflation? There are plenty more festive questions to be answered plus you get our guide to the top gifts to satisfy the budding economist in your household. Guiding you through as always are Pete and Gav, your friendly neighbourhood economists with technical support (and jingle bells) from Nic. Music comes from Jukedeck and you can create your own at jukedeck.com. Have a merry Christmas everyone!!!
Sir Arthur Lewis was a pioneer. The first black man to win the Economics Nobel Prize, the first black man to be a professor of any university and in any field in the UK and the economist largely seen as the first major thinker in the field of development economics. His "two sector" model is taught across the world - but who was the man behind the model and why does he have a building and a mascot named after him at the University of Manchester? What is his (spurious) link with Mancunian musical legends MC Tunes and A Guy Called Gerald. Guiding you through these questions and many more (as always) are Pete and Gav, your friendly neighbourhood economists. Technical support comes from Nic and the music from Jukedeck - you can create your own at jukedeck.com.
Traditionally economics has been a man’s world reflected in the fact that out of 84 Nobel Prize winners in Economics, only 2 (until last week only 1!) have been women. This dominance is starting to be challenged and people are increasingly valuing greater diversity of economic thought and economic thinkers. But who was the first woman to win the Nobel Prize for Economics and why did she keep on saying that 'there is no panacea'? Listen to this second episode of season 2 to learn more about Elinor Ostrom and how she challenged the idea of the ‘tragedy of the commons’. You’ll also discover that in this world of complexity, her methodology has enormous potential in solving practical problems. You'll also learn about a determined woman of great character who would not be "put in her place"! Guiding you through as always are Pete and Gav, your friendly neighbourhood economists with technical support from Nic. Music comes from Jukedeck and you can create your own at jukedeck.com.
Want to know why Cardi B has five super cars but can't drive? Economics has the answer! Or more specifically Thorstein Veblen does. Who is this man and why is he still so relevant today? From Russian oligarchs to Saudi Princes, to Premiership footballers and even that work colleague who keeps rolling up their sleeve in the hope that you'll comment on their new Rolex... Listen to the first episode of our second season to learn more about the man who coined the phrase 'conspicuous consumption'. As always you will be in the company of Pete and Gav, your friendly neighbourhood economists. With technical support from the wonderful Nic and music from Jukedeck - create your own at jukedeck.com.
“The more that you read, the more things you will know. The more that you learn, the more places you’ll go.” – Dr. Seuss
If you want to be a great student of economics or just be well-informed about the world, then reading widely is without question the magic ingredient. We at EconomicsInTen are great believers in the power of reading. Therefore in this Summer Reading special, your friendly neighbourhood economists Pete and Gav answer one simple question 10 times. What book would they recommend and why? All the books are linked to economics in some way and if you read them all, you will become a better economist and who knows, perhaps a better human being too! So while away those long summer days catching up with our podcast and reading these beauties. As always, this podcast comes with technical support from the great Nic and comes with music from Jukedeck – create your own at jukedeck.com.
Interested in Karl Marx? Want to know what Marxism might be? Ever wondered what the impact of 'The Communist Manifesto' and 'Das Kapital' have been on the world? And have you ever considered that Dolly Parton may have been a closet Marxist? Then listen to this episode and find out more about the man who was far more influential after death than in his own lifetime and still provokes strong feelings. Along the way you'll also find out about "the most beautiful girl in Trier", his best mate Engels and how, according to Pete and Gav, your friendly neighbourhood economists, they were the original Justice League! As always with technical support from Nic and music from Jukedeck - create your own at Jukedeck.com.
This is the last in our first series (barring another sneaky special) so please do send us any feedback and ideas for future episodes to firstname.lastname@example.org
Thank you for your company over our first series - we will back with some other great economists later in the year.
This week we are once again moving away from our coverage of economic titans and sharing with you another of our topical "specials".
Climate change…it’s a hot topic but what light if any can conventional economics shed on it? In this environmental special, your friendly neighbourhood economists Pete and Gav look at various different theories that try to address how economics can solve the existential problem of environmental destruction! So if you want to know what steady-state economics is or have wondered what the ‘tragedy of the commons’ means, then have a listen. And who knows, by the end, you might have more inclination to become vegan (or at least cut down on your meat consumption). vowed to use public transport more and be itching to find out what your carbon footprint is. As always with technical support from Nic and music from Jukedeck - create your own at Jukedeck.com.
Globalisation…it’s a hot topic in economics but why do so many economists emphasise the importance of trade? Many would argue that this began with David Ricardo and his Theory of Comparative Advantage, leading to the interdependence between countries that we see today. Who was Ricardo and how did he develop his ideas? What would he have made of today's global economy? And what is his very tenuous connection to fish and chips? Listen to this episode to find out more about this famous economist and his impact on the world today, whilst being entertained and informed by Pete and Gav throughout. Technical support comes from Nic and music from Jukedeck – create your own at jukedeck.com
Want to know who Friedrich Hayek was? Batman had the Joker. Holmes had Moriarty. Emu had Grotbags. And in the world of Economics, Keynes had Hayek. But who was this man? How did he contribute to the world of economics? And how did he arguably become the most important economist of the 20th Century? Listen to this episode to find out more and decide which side of the debate you are on. Hopefully Pete and Gav will keep you entertained and informed throughout, whilst you make up your mind. Technical support comes from Nic and music from Jukedeck – create your own at jukedeck.com.
This week we are departing temporarily from our coverage of great economists for the first of our "Economics in Ten Specials" with a look at the growing field of Happiness Economics.
Are you a student and worried that you won’t be able to buy a house before you retire? Are you unhappy because you are not losing weight fast enough? Want to know what music to put on to make you happier? In this special episode of the Economics in Ten podcast, Pete and Gav, your friendly neighbourhood economists, take you on a journey through economics and show you how the ‘dismal science’ can improve your happiness, boost your well-being and definitely save you from boredom. With technical support from Nic and music from Jukedeck – create your own at jukedeck.com.
Want to know who John Maynard Keynes was? How he contributed to the world of economics? And more importantly what was he chowing down on at his secret society? Listen to this episode to learn more. Keynes once said ‘in the long run we are all dead’ and after this extended episode you might have sympathy with his thoughts but hopefully Pete and Gav will keep you entertained and informed throughout. Technical support comes from Nic and music from Jukedeck – create your own at jukedeck.com
Want to know who Adam Smith was? How he contributed to the world of economics? And, more importantly, what would his walk on music be if he was a professional boxer? Listen to this episode to learn more about the father of modern economics (or, as the kids might say, the original G) from Pete and Gav, your friendly neighbourhood economists. With technical support from Nic and music from Jukedeck - create your own at jukedeck.com