Fresh Economic Thinking

Cameron Murray

Cameron Murray is famous for questioning sacred cows and conventional wisdoms of both left and right. We chat about Cameron's latest Twitter battle and then delve into a controversy. Wide-ranging analysis - no topic out of bounds - inequality, regulation, housing, superannuation, lockdowns, tax, war, the meaning of life. www.fresheconomicthinking.com

  1. FET #77: What's the modern monetary theory (MMT) view on inflation and the interest burden of public debt?

    Jun 14

    FET #77: What's the modern monetary theory (MMT) view on inflation and the interest burden of public debt?

    Friend of the show Mike Fellman joins me to chat about all things macroeconomic. We pick up on a previous conversation I had with Moses Sternstein about the interest burden from public debt. Mike has a deep understanding of bond markets, macro policy, and money. It was a good chance to ask him about Modern Monetary Theory (MMT), which is a school of thought in economics that focuses on monetary operations and both sides of the monetary balance, which includes the debt (the liability to the government) and the asset (the Treasury bond held by the public or other organisation). Is the MMT view really that different from the standard macro view? And where does a lot of the fear about public debt come from? Who really bears the cost of interest on public debt? We dig into these questions. Enjoy the conversation. Follow Mike’s terrific Housing Hell Substack here. As always, please like, share, comment, and subscribe. Thanks for your support. You can find Fresh Economic Thinking on YouTube, Spotify, and Apple Podcasts. Theme: Happy Swing by Serge Quadrado Music—Creative Commons Licence CC BY-NC 4.0 This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.fresheconomicthinking.com/subscribe

    1h 1m
  2. FET #76: Moses Sternstein on the housing shortage myth, demographics, and debt

    May 31

    FET #76: Moses Sternstein on the housing shortage myth, demographics, and debt

    Moses Sterstein runs the terrific Random Walk substack. I stumbled across his creative insights a couple of years ago when someone sent me an article he wrote about the mythical housing shortage. Since then, I have kept track of his views on evolving macro-economic and demographic trends. This conversation was a chance for me to see how his independent analysis had led him to some similar views to mine on housing markets, but also test where we differ on the likely social, economic and political effects of long-term demographic trends. It was a surprise to hear that we have both arrived at a similar view on the application of monetary policy being too broad for many of the industry-specific inflation concerns we have today. Enjoy this conversation and find Moses on Twitter here and at his Random Walk Substack below. As always, please like, share, comment, and subscribe. Thanks for your support. You can find Fresh Economic Thinking on YouTube, Spotify, and Apple Podcasts. Theme: Happy Swing by Serge Quadrado Music—Creative Commons Licence CC BY-NC 4.0 This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.fresheconomicthinking.com/subscribe

    1h 4m
  3. FET #75: Inheritance taxes seem fair, but policing them seems unfair. Why?

    May 17

    FET #75: Inheritance taxes seem fair, but policing them seems unfair. Why?

    This week, regular co-host Jonathan Gadir is back to discuss inheritance taxes. Are they the fairest tax that helps everyone start life on a more even footing? Or are they a nightmare of rules that require intrusive monitoring of gifts and that destroy family businesses? We take some initial steps towards understanding how much tax revenue is possible, the problems involved, and the intergenerational issues at play. An article of mine from 2014 on inheritance taxes is here. And a link to The Australia Institute report we mentioned on inheritance taxes and gift duties is here. Don’t forget that I am hosting a Land and Housing Economics workshop in Brisbane on 9-10th June 2026. Find out more here and come along to get into the weeds on property economics. As always, please like, share, comment, and subscribe. Thanks for your support. You can find Fresh Economic Thinking on YouTube, Spotify, and Apple Podcasts. Theme: Happy Swing by Serge Quadrado Music—Creative Commons Licence CC BY-NC 4.0 Interested in learning more? Custom workshops are also available to help your organisation dig into the economic issues you face and learn powerful insights. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.fresheconomicthinking.com/subscribe

    28 min
  4. FET #74: How to think about scenarios in the Iran as an economist and scientist, with Paul Frijters

    Apr 12

    FET #74: How to think about scenarios in the Iran as an economist and scientist, with Paul Frijters

    Economics can be thought of as the study of human conflict. Prices are one way to settle conflicts over who gets what. So how does an economist think about war, and emergent cultural and political forces that create conflicts amongst groups? Paul Frijters runs Academia Libera Mentis, a new education institution for minds that dare. He documents this grand education experiment here at his Subtack. Paul and I go way back. Paul was my PhD supervisor, and we co-wrote Rigged, a book that dives deep into the way political favouritism operates in Australia. He has studied the way human societies function, particularly how the underlying emotional drivers of greed and love generate loyal groups as well as fierce competition. He even has a book with Gigi Foster about that called An Economic Theory of Greed, Love, Groups, and Networks. This underlying understanding of humanity should be extremely helpful for assessing potential scenarios in major global events, like the war in Iran. Although I am very much on board with the economic thinking about greed, love and groups, I am very much in the dark about the history and current tensions driving this new conflict in the Middle East. Paul has recently lived in Saudi Arabia and has been studying the region in detail. So enjoy this chat and keep in mind how things have unfolded between when we recorded, on 16th March, and what is happening when you listen to it. You can find Paul’s academy website with details of upcoming open days and events here. As always, please like, share, comment, and subscribe. Thanks for your support. You can find Fresh Economic Thinking on YouTube, Spotify, and Apple Podcasts. Theme: Happy Swing by Serge Quadrado Music—Creative Commons Licence CC BY-NC 4.0 This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.fresheconomicthinking.com/subscribe

    1h 4m
  5. FET #73: Steve Keen on why economists are often blind to the macro cycle (plus housing and more)

    Mar 29

    FET #73: Steve Keen on why economists are often blind to the macro cycle (plus housing and more)

    One of the most requested guests on FET has been Professor Steve Keen. Steve has been a student of economics since the 1970s, and a critic of the oversimplifications of the neoclassical economic school. He was an academic at the University of Western Sydney for many years, and Head of School at Kingston University in the mid-2010s. One thing Steve taught me is to really think about the hidden assumptions in our economic models, which has been extremely valuable to me during my economic journey. Our conversation starts with Steve’s concerns about the Vietnam War draft, and moves on to his epiphanies about what was missing from economics education. We discuss his attempts to model the key insights of Hyman Minsky about the economic behaviour that generates macroeconomic cycles, and the state of the economic debate. Oh, and we talk about the very controversial issue of money creation by banks and the public Treasury! Find Steve’s YouTube channel here. Steve’s Debunking Economics podcast is here. And of course, Steve writes on Substack at Building a New Economics, which is where you can find his latest writings and conversations. As always, please like, share, comment, and subscribe. Thanks for your support. You can find Fresh Economic Thinking on YouTube, Spotify, and Apple Podcasts. Theme: Happy Swing by Serge Quadrado Music—Creative Commons Licence CC BY-NC 4.0 This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.fresheconomicthinking.com/subscribe

    1h 23m

  6. Mar 15

    FET #72: Jim Penman on zoning, politics and fertility

    Most Aussie’s know Jim Penman’s face from the side of green trailers dragged through the suburbs as his franchisees mow lawns. But Jim is more than a businessman. He has written multiple books, has a PhD, and will run for election in Northcote, Victoria with the Libertarian party in November 2026. I wanted to find out what motivated Jim to run for politics, ask him about where he sees government waste and interference reducing our quality of life, and of course broach the topic of fertility, which he has a unique view on. It turns out that zoning and planning regulations are a big deal for Jim. Although we weren’t able to agree on much about this topic, we were able to break apart why our views differed. Find out more about Jim, his books, and try chatting with “AI Jim” at his website, jimpenman.com.au. Find him on X/Twitter here, and pre-order his new book Birth Rate Crisis here. Don’t forget about my upcoming Land and Housing Economics workshop on 9th and 10th June in Brisbane. Tickets here. PDF flyer attached below As always, please like, share, comment, and subscribe. Thanks for your support. You can find Fresh Economic Thinking on YouTube, Spotify, and Apple Podcasts. Theme: Happy Swing by Serge Quadrado Music—Creative Commons Licence CC BY-NC 4.0 Interested in learning more? Fresh Economic Thinking runs in-person and online workshops to help your organisation dig into the economic issues you face and learn powerful insights. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.fresheconomicthinking.com/subscribe

    1h 14m
  7. FET #71: Crémieux on how bad science and fraud lead to bad policy

    Mar 1

    FET #71: Crémieux on how bad science and fraud lead to bad policy

    Jay Lasker, aka Crémieux on Twitter/X, has spent the past few years digging into bad science and its bad data, especially in health science. For example, the rise in autism is almost solely due to expanded diagnosis and the incentives to get a diagnosis. This is especially relevant for policies like the National Disability Insurance Scheme (NDIS) in Australia, which pays out on the basis of a diagnosis. Worse, because this idea of a rise in autism has become a global meme, people and politicians are already searching for answers and interventions to prevent it from getting worse! Before asking the question “Is the data correct and showing what we think?”, we jump to the question “What should we do about it?” Indeed, many of the troubling social trends that seem to capture our collective minds are pure data measurement artefacts. They aren’t real. We can stop worrying. Find Jay’s terrific Substack here. And for his excellent regular posting on Twitter/X find him here. As always, please like, share, comment, and subscribe. Thanks for your support. You can find Fresh Economic Thinking on YouTube, Spotify, and Apple Podcasts. Theme: Happy Swing by Serge Quadrado Music—Creative Commons Licence CC BY-NC 4.0 Interested in learning more? Fresh Economic Thinking runs in-person and online workshops to help your organisation dig into the economic issues you face and learn powerful insights. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.fresheconomicthinking.com/subscribe

    1h 5m
  8. FET #70: Tim Sneesby is a real life town planner. Why is he making housing so unaffordable?

    Feb 15

    FET #70: Tim Sneesby is a real life town planner. Why is he making housing so unaffordable?

    You may have heard that our town planning system of rules and institutions that govern land uses in cities and often across the country is stifling new housing production, causing high prices. But much of the commentary misunderstands how town planning rules operate. I chat with Sydney town planner Tim Sneesby about how the system works, from a strategic level of creating zones and desired outcomes at a broad level, including earmarking infrastructure locations, to the day-to-day operations of assessing applications against those broader plans. I also push a little on some of the potential perverse incentives—wouldn’t town planners prefer to create cumbersome rules to keep themselves in a job and make their roles valuable even if there is no (or negative!) social benefit from those rules? For example, this article notes a rise in town planners per new home developed and the economic cost of regulating so many aspects of building designs. Let me know what you think? All comments are personal views and not those of Tim’s employer or associated entities. As always, please like, share, comment, and subscribe. Thanks for your support. You can find Fresh Economic Thinking on YouTube, Spotify, and Apple Podcasts. Theme: Happy Swing by Serge Quadrado Music—Creative Commons Licence CC BY-NC 4.0 Interested in learning more? Fresh Economic Thinking runs in-person and online workshops to help your organisation dig into the economic issues you face and learn powerful insights. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.fresheconomicthinking.com/subscribe

    1h 2m
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Ratings & Reviews

About

Cameron Murray is famous for questioning sacred cows and conventional wisdoms of both left and right. We chat about Cameron's latest Twitter battle and then delve into a controversy. Wide-ranging analysis - no topic out of bounds - inequality, regulation, housing, superannuation, lockdowns, tax, war, the meaning of life. www.fresheconomicthinking.com

Information

  • Creator
    Cameron Murray
  • Years Active
    2021 - 2026
  • Episodes
    127
  • Rating
    Explicit
  • Copyright
    © Cameron Murray
  • Show Website
    Fresh Economic Thinking

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