The podcast delves into the differences between orthodox and heterodox economics, highlighting the importance of challenging traditional economic teachings. It discusses the lack of diversity in mainstream economics and the need for varied perspectives. The hosts explore the contrast between business-centered and societal well-being approaches in economics. They also challenge popular myths about money, advocating for a Green New Deal and inclusive employment opportunities. The episode emphasizes the significance of compassion and curiosity for creating positive change.
33:47
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Quick takeaways
Importance of understanding diverse economic perspectives for inclusive and impactful solutions.
Need for challenging orthodox economic views to create a more inclusive and diverse field in economics.
Deep dives
The Need for Economic Education
The podcast hosts express their frustration with the lack of education on the economy and economics in schools. They believe that everyone has the right to understand how the economy works and the decision-making processes behind it.
Orthodox and Heterodox Economics
The hosts discuss the main differences between orthodox and heterodox economics. Orthodox economics operates on assumptions of individual self-interest and sees economics as a non-political science. In contrast, heterodox economics views the economy as a social process influenced by institutions, norms, and power dynamics.
The Cube and the Need for Diverse Perspectives
The hosts introduce 'the cube,' a representation of the lack of diversity and the crisis in the field of economics. They stress the importance and urgency of incorporating different perspectives and challenging the orthodox view to create a more inclusive and impactful discipline.
Unpacking Alternative Perspectives and Topics
The hosts outline their goal of unpacking alternative or heterodox perspectives in economics and making them accessible to a broader audience. They plan to discuss the role of history, institutions, and culture in the economy, the truth about the origins of money, the power of government spending, and the potential for a Green New Deal and inclusive economic policies.