Nat Dyer - Economics, Power and the Real World

In this episode, we welcome Dr Nat Dyer, journalist, researcher and author of Ricardo’s Dream: How Economists Forgot the Real World and Led Us Astray. With clarity and wit, Nat takes us inside the story of how mainstream economics became unmoored from reality, tracing its detachment back to the legacy of David Ricardo and the seductive pull of abstract models. Drawing on insights from his new book, we explore the ways in which economics has lost sight of power, politics and people – and why that matters for tackling today’s global crises. From Ricardo’s imagined dream-world to the rise of neoliberal technocracy, Nat argues for a re-grounding of economics in the messy, contested terrain of the real world. Along the way, we discuss the influence of International Political Economy scholar Susan Strange – a formative intellectual figure for Nat and a powerful critic of economics’ neglect of structural power. With references to Strange’s notion of “casino capitalism,” the seduction of mathematical formalism, and the dangers of expert overreach, this is a conversation about reclaiming economics for democratic debate and social purpose. At a time of deep planetary and political instability, the stakes of getting economics right – and getting it real – could not be higher. Nat is an independent researcher, writer and journalist. His book Ricardo’s Dream is published by Bristol University Press. He writes regularly on the history of economics, the politics of expertise and the legacy of Susan Strange. Nat Dyer’s website can be found here: https://www.natdyer.com/ We discussed: • Ricardo’s Dream: How Economists Forgot the Real World and Led Us Astray: https://bristoluniversitypress.co.uk/trade/ricardos-dream • ‘Stand Up for Your Own Ideas’ – Susan Strange’s Remarkable Life: https://www.natdyer.com/stand-up-for-your-own-ideas-susan-stranges-remarkable-life/ • ‘I Never Meant to be an Academic,’ by Susan Strange: https://www.natdyer.com/i-never-meant-to-be-an-academic-by-susan-strange/