logo
episode-header-image
Mar 2017
18m 24s

Do poor people make the rich richer?

Steve Keen & Phil Dobbie
About this episode
Karl Marx argued that the bourgeoisie got rich by creaming their wealth off the proletariat who did all the work. But in this podcast Prof Steve Keen tells Phil Dobbie that it’s not the capitalists who are getting rich from the workers – it’s the often ignored “third class” of citizen, who make up a large part of the wealthiest people on the planet. And they’ve been increasing their influence over recently decades.

Hosted on Acast. See acast.com/privacy for more information.

Up next
Aug 20
Countering the Cantillon Effect
18th century economist Richard Cantillon theorised that new money added to the economy always reaches the wealthiest people first. If there’s a lot of it, the extra supply will push up prices, but the rich won’t feel it, they’ll just create it. The impact down the track is that t ... Show More
41m 55s
Aug 13
Planning, egos and resources
Phil and Steve pick up from last week’s discussion about the merits of central planning. Last time they talked about how big companies, like Walmart in the US, plan centrally, yet free marketeers have a problem with that sort of coordination being applied to the free market. This ... Show More
45m 30s
Aug 6
The need for central planning
In one of his many walks around his neighbourhood Phil has been listening to a book, The People's Republic of Walmart, by Leigh Phillips & Michal Rozworski. Basically, a contrarian economist and a journalist teaming up together. Could such a combination ever really work?The book ... Show More
39m 37s
Recommended Episodes
Oct 2017
Episode 26, Karl Marx's Political Philosophy (Part III)
Website: www.thepanpsycast.com Twitter: www.twitter.com/thepanpsycast Karl Marx is one of the most influential figures in human history. The Prussian-born philosopher, economist, political theorist, sociologist, and revolutionary socialist, produced some of the most controversial ... Show More
32m 15s
Sep 2017
Episode 26, Karl Marx's Political Philosophy (Part I)
Website: www.thepanpsycast.com Twitter: www.twitter.com/thepanpsycast Karl Marx is one of the most influential figures in human history. The Prussian-born philosopher, economist, political theorist, sociologist, and revolutionary socialist, produced some of the most controversial ... Show More
36m 20s
Oct 2017
Episode 26, Karl Marx's Political Philosophy (Part IV)
Website: www.thepanpsycast.com Twitter: www.twitter.com/thepanpsycast Karl Marx is one of the most influential figures in human history. The Prussian-born philosopher, economist, political theorist, sociologist, and revolutionary socialist, produced some of the most controversial ... Show More
1h 3m
Sep 2017
Episode 26, Karl Marx's Political Philosophy (Part II)
Website: www.thepanpsycast.com Twitter: www.twitter.com/thepanpsycast Karl Marx is one of the most influential figures in human history. The Prussian-born philosopher, economist, political theorist, sociologist, and revolutionary socialist, produced some of the most controversial ... Show More
37m 50s
Mar 2024
Inheritance - Rise Of The Affluent Middle Class
In the wake of the COVID-19 pandemic, the world has witnessed a significant increase in wealth inequality. One of the contributing factors to this disparity is inheritance. As the balance between the rich and poor widens, we are witnessing the emergence of a prominent affluent mi ... Show More
4m 26s
Mar 2025
#689 - Will Dropping Out Of College Make You Richer? The Truth…
Does a college degree actually create wealth? Or is there a better path to success? In this video, Tai breaks down why the wealthiest people often drop out of college—and what they do instead to build massive fortunes. 🔹 The REAL reason Harvard grads aren’t the richest alumni 🔹 ... Show More
6m 6s
Mar 2025
"The Wealth Creation Formula" – Sneak Preview
In this episode, Grant Cardone gives you an exclusive look at his newest book, The Wealth Creation Formula, your escape from the middle class and path to real wealth. Grant breaks down the fundamental difference between being rich and being wealthy: True wealth isn’t just about m ... Show More
53m 5s
Mar 2024
SOCIAL MOBILITY- is the capitalist dream just a myth?
Nafkote and Max interview Dr. Faiza Shaheen on how capitalism has failed on its main selling point – work hard and you will succeed. The idea that everyone has equal opportunity in life is just a myth. Your success in life is significantly influenced by where you are born, your s ... Show More
23m 29s
Nov 2024
Ep. 355: Marx on Alienation (Part One)
On three of Karl Marx's Economic and Philosophic Manuscripts of 1844, "Estranged Labor," "Private Property and Communism," and "The Power of Money on Bourgeois Society." Featuring guest Lawrence Dallman. What is the plight of the working poor? It's that they are in an unnatural s ... Show More
39m 9s
Jun 2021
Karl Marx's Unique Theory of Social Classes
Brian and Prof. Wolff continue a series of discussions about the basics of Marxism — a method for understanding and changing  the world used by many of the great revolutionaries of modern history. Today, they discuss Karl Marx's theory of classes. Politicians of all stripes love ... Show More
32m 15s