Austrian economist Bob Murphy and Post-Keynesian economist Steve Keen debate the finer points of fractional reserve banking and money creation. They clash over whether bank loans require actual reserves, or if banks create money out of thin air via the radical "loans create deposits" thesis. This debate exposes the core flaws of neoclassical economics, explains why existing economic theory failed to predict the 2008 financial crisis, and offers the key to the paradigm shift required to understand and fix the global financial system. PATREON https://www.patreon.com/c/demystifysci PARADIGM DRIFT https://demystifysci.com/paradigm-drift-show HOMEBREW MUSIC - Check out our new album! Hard Copies (Vinyl): FREE SHIPPING https://demystifysci-shop.fourthwall.com/products/vinyl-lp-secretary-of-nature-everything-is-so-good-here Streaming: https://secretaryofnature.bandcamp.com/album/everything-is-so-good-here #economics, #macroeconomics, #banking, #economiccrisis , #austrianeconomics , #keynesianeconomics , #complexitytheory, #financialmarkets , #economicpolicy, #monetarypolicy , #financialsystem, #physicspodcast #philosophypodcast MERCH: Rock some DemystifySci gear : https://demystifysci-shop.fourthwall.com/ AMAZON: Do your shopping through this link: https://amzn.to/3YyoT98 DONATE: https://bit.ly/3wkPqaD SUBSTACK: https://substack.com/@UCqV4_7i9h1_V7hY48eZZSLw@demystifysci RSS: https://anchor.fm/s/2be66934/podcast/rss MAILING LIST: https://bit.ly/3v3kz2S SOCIAL: - Discord: https://discord.gg/MJzKT8CQub - Facebook: https://www.facebook.com/groups/DemystifySci - Instagram: https://www.instagram.com/DemystifySci/ - Twitter: https://twitter.com/DemystifySci MUSIC: -Shilo Delay: https://g.co/kgs/oty671