Didactic Mind, Ep 64: The Hand of Mammon

by Didact | Jan 17, 2021 | Podcasts | 0 comments

In this week’s podcast, I discuss the financialisation of markets and the extremely detrimental effects that this has had upon the real, productive economy. I go over some of the academic reasons offered up for the “crowding out” of the productive sectors of the economy by the financial sector, and the dangers that this poses based on historical evidence. Then I discuss the reason why we see this happening through the lens of Austrian Business Cycle Theory and show how central banks have lowered interest rates to the point where it actually makes complete sense for companies to jack up their share prices artificially. Finally, I talk about the ways in which this madness will end – i.e. very, very badly.

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Here’s the embedded podcast:

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