Share

The David McWilliams Podcast

The aim of this weekly podcast is to make economics easy, uncomplicated and accessible. With the world at a political, technological and financial tipping point, economics has never been so important to all of us and yet, it’s made inaccessible and com...


Latest episode

  • 26. 2024:26 The Curse of Inheritance

    29:53
     Inheritance is a tricky one. We all want to leave something to our kids if possible, yet inheritance for society makes inequality permanent, favouring the children of the rich. Millennials are about to become the wealthiest generation, which begs the question - should inheritors of wealth play a role in driving social change? What should they give back? A recent Bank of Italy paper reveals the rich stay rich. Tax records dating back to 1427 reveal that the top twenty wealthiest families in Florence remain almost identical to the top twenty richest families in 2008. However, 15th Century Florentines understood that altruistic measures such as building museums, orphanages, piazzas, roads, and more would be their insurance policy to ensure social stability - but today's rich don't quite care. They avoid all responsibility, dodging taxes worldwide. As inequality pisses people off, does this mean violent, catastrophic social change is inevitable, or will democracy do its job more gently?

More episodes

View all episodes

  • 25. 2024:25 Should We Copy The Swiss Or Is That Too Cheesy?

    39:58
     How best to run an economy and a country, bottom up or top down? A trip to Switzerland got me thinking should we invert power, making the local more consequential than the nation, should we devolve government, introduce fiscal federalism and instead of our "spectator democracy" should we opt for "direct democracy" . Unlike Ireland, where accountability seems elusive, Switzerland's governance is marked by subsidiarity and active democracy. With their frequent referenda, the Swiss distribute responsibility locally, fostering an engaged political system. The influence of Calvinism further shaped Switzerland, cultivating a deeply democratic and pragmatic society. Is it time for us to embrace for 'Protestant Pragmatism', where power is delegated to the people? Could this also be a framework for future Irish reunification?
  • 24. 2024:24 The Dehumanisation of Curiosity

    28:20
    The US House of Representatives has just approved a bill with the potential to ban Tiktok from America. But this story is about much more than corporate America's jealousy over its Chinese rival's more profitable and addictive business? Its about the direction of social media and an increasingly docile, addicted citizen, out-foxed and out-thought by an algorithm. What we are witnessing is an internal power-play within the tech cartel. With its personalised algorithm, TikTok means human curiosity now takes a backseat to endless scrolling. Curiosity is no longer an active endeavour but a preordained path. In this episode, we dissect the shift in our inquisitive nature, as algorithms dictate the content we consume, rendering Google search a relics of the past. Curiosity has been commodified as we enter a digital algorithm world.
  • 23. 2024:23 The Economics of the Creative Mind with Ed Guiney

    40:55
    The primary driver of economic growth is the innovative human mind. In this episode, we sit down with Ed Guiney, the visionary co-founder of Element Pictures, the powerhouse behind Oscar winners like 'Brooklyn', "Room" and 'Poor Things', and TV dramas such as 'Normal People'. We delve into the fascinating tale of Ireland's cinematic resurgence, driven by strategic tax incentives and our rich storytelling tradition. Join us as we uncover the secrets to Ireland's rise as a global film hub, from script to screen - it is nothing short of an enlightening discussion on innovation and the economics of filmmaking with one of the industry's leading minds.
  • 22. 2024:22 The Irish Government, as trustworthy as a Kate Middleton photo-album?

    33:42
    No one trusts them, the Irish government or Katie M's doctored photos. For them its part of the national theatre, for us its a national threat. How did the government misread the public and why does the public not believe them? Is Ireland progressive or reactionary? Despite a track record of successful progressive referenda, from gay marriage to abortion rights, there is now a palpable uncertainty regarding Ireland's liberal democratic identity. Is the tide shifting? We argue it is signals the onset of a new era. From the riots in November to this vote, the rumblings of restlessness are everywhere. We stand at the precipice of societal and political change, yet our elite seems oblivious.
  • 21. 2024:21 Bitcoin is Still Not Money

    30:24
    Bitcoin is being touted as a revolutionary asset, but in reality, it's often the wealthy transferring wealth to unsuspecting individuals, marketed as a stroke of financial liberation. This asset is not money - it lacks many characteristics traditionally associated with money. It functions scarcely as a medium of exchange, lacks stability in value, and operates without regulation. Instead, it predominantly serves as a speculative asset or digital commodity. Despite this, it garners headlines as big tech and the SEC embrace it, ironically contradicting its anti-establishment roots from the cyberpunk era. Currently, the global cryptocurrency market represents less than 2% of the bond market. While every movement of Bitcoin is amplified by its evangelists, other shifts in the bond market typically generate a muted response. Despite Bitcoin's recent surge to a new peak of $69,000, it still lacks intrinsic value, inviting speculation on who ultimately benefits from its volatility - and we're just waiting to see who the greatest fool is. EFTs are just a brilliant way of offloading from the rich to the poor punter.
  • 20. 2024:20 Why Is China Getting So Rich?

    33:06
    For International Women's Day, we're thrilled to welcome Alice Evans, who is currently immersed in writing a book on gender equality across different cultures. This week, we travel to southeast Asia with Alice, whose storytelling transports us to China - where we explain the rise of China through their love of money, their increasing emphasis on wealth and their Lunar New Year's celebration's focus on monetary gain. Join us as we navigate the fascinating interplay between money, gender dynamics, cultural norms, and societal evolution in Southeast Asia.