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
Sep 16
The always moving equilibrium
Equilibrium is a fantasy—and this conversation explains why. Phil and teve explore how the belief that markets naturally self-correct has shaped economic policy, contributed to the failure to anticipate the Global Financial Crisis, and continues to distort debates about bond yiel ... Show More
36m 32s
Sep 9
What did Keating do for Australia?
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" ... Show More
42m 31s
Sep 2
The risks of hedging
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 d ... Show More
28m 33s
Recommended Episodes
Dec 2015
The Greed Of The Poor
Poor people with a poor mindset have convinced themselves that the rich get that way by being greedy. The truth is that the most successful and wealthy people on earth got there by having a generous spirit. This week we’ll talk with Josh and Lisa Lannon (The Social Capitalist) ab ... Show More
46m 40s
May 2017
288. Are the Rich Really Less Generous Than the Poor?
<p>A series of academic studies suggest that the wealthy are, to put it bluntly, selfish jerks. It's an easy narrative to swallow — but is it true? A trio of economists set out to test the theory. All it took was a Dutch postal worker's uniform, some envelopes stuffed with cash, ... Show More
42m 24s
Jul 2022
Billionaire Bashing
Zoe Strimpel argues that wealth creation should be the bedrock of politics. She says that while she loathes the arrogance sometimes displayed by the super rich - especially in the present climate where millions are sinking into poverty - it's not billionaires who are the problem. ... Show More
10m 35s
Nov 2013
Do the rich prop up our economy?
The worth of the wealthy, the price of a degree and a new generation in the Shadow Cabinet. Tim Montgomerie is joined by Alice Thomson, Jenni Russell and Rachel Sylvester to debate Boris Johnson's claims that the rich are propping up the UK's ailing economy. Also, are too many ... Show More
27m 42s
May 2022
Money 2.0: The Rich and the Rest of Us
<p>Where do you stand on the income ladder? Do you think of yourself as rich, as poor, or as somewhere in between? Our perceptions of wealth — our own, and other people's — can affect us more profoundly than we realize. This week in our Money 2.0 series, we revisit two of our fav ... Show More
48m 47s
Jul 2024
#88 - Beyond Wealth: Redefining True Value
Welcome to another episode of the Natural Born Leader Podcast! In today’s episode, I reflect on a powerful lesson about wealth and worth. Inspired by a podcast discussion, I delve into why it’s crucial not to judge people solely by their financial status. Discover why wealth does ... Show More
4m 22s
Jan 2023
Billionaire Recession Advice: Sell to the Rich | Ep 489
“Rich people have the same problems that poor people do. They just want them solved differently.” Today, Alex (@AlexHormozi) talks about how raising your prices will actually benefit you more than you realize & the implications of raising your prices, the strategies on how you ca ... Show More
38m 11s
Jan 2017
What Rich Really Means
I've spent 20+ years advising billionaires, celebrated CEOs and other titans of industry on how to multiply their income, lift their influence + unleash their highest impact. Here's one of the strange paradoxes I've observed: A number of them are super-wealthy but very poor. --th ... Show More
8m 45s
Mar 2024
Episode 378: Do You Create Wealth?
<p class="MsoNormal"><span style= "font-family: 'Calibri',sans-serif; mso-ascii-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; mso-bidi-theme-font: minor-latin; color: black;"> Having money in stocks and mutual funds that perform well doesn't mean you're creating wea ... Show More
8m 16s