The David McWilliams Podcast

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 complicated by so many. I’ve always thought what is complicated is rarely important and what is important is rarely complicated. That will be our motto. Every week we are going to tease out some big economic or political issue facing us, not just here in Ireland but in Europe and further afield. Globalisation has brought us all together. We all face similar challenges whether you live in Dublin, London, Minnesota or Milan. If you would like to enjoy all of our content ad-free and have early access to episodes, subscribe to DMCW+ on Apple Podcast. If you would like to support the show, please consider becoming a patron at www.patreon.com/DavidMcWilliams. Join the gang! https://plus.acast.com/s/the-david-mcwilliams-podcast. Hosted on Acast. See acast.com/privacy for more information.

Episodes

May 8, 2024 30 mins


Why do wealthy people live in houses originally built for the less affluent? Despite vast improvements in living standards over the years — lower infant mortality rates, faster access to life-saving drugs, and increased life expectancy — today, even modest homes are un-affordable for many. Consequently, wealthy individuals find themselves competing for properties originally intended for lower-income families. This trend not onl...

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 The Tories are seeking revenge for Brexit by exploiting immigration policy. Having been out-foxed, out-thought and out-gunned by Dublin on Brexit negotiations, they are extracting a price- that price is the framing of the new Irish election. By encouraging the relocation of asylum seekers to Ireland, the Tories are effectively using Ireland as a bargaining chip to pressure France into accepting a deal on immigration, all whil...

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Last week, the football team I play with went on a trip to Italian organised by one of our lads Camilio Borza a member of the Irish Italian tribe. In the the vibrant tapestry of Irish history, few immigrants have left their mark like the "Eye-talians" with their chippers which have fed generations of Irish people. This week, the podcast explores the captivating journey of Italian immigrants to Ireland, tracing the roots of one...

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This podcast delves into the intricate interplay of politics and housing, a phenomenon not unique to Ireland but deeply emblematic there. It examines how the control, or lack thereof, of housing can shape political fortunes. From Ireland to Britain, Canada to Australia, the "politics of housing" is a pivotal and global issue, particularly for younger generations. While Eastern European countries, with reasonable house prices, see h...

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In part two of our mini-series on Turkey, we delve deeper into the electrifying economic history of Istanbul, from the Byzantine to the Ottoman empires and up to today. We explore how these empires sent shockwaves through history, shaping the world as we know it. Without the Ottomans, Columbus might never have discovered America, there'd be possibly no Renaissance, no dominance of Europe, no humanism. And what about Attaturk? ...

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April 23, 2024 33 mins
This is the first of 2 podcasts on Turkey following a quick visit to Istanbul where the inflation rate is currently at 69% annually, and the currency, the Lira, is on a devaluation spiral, but might this financial crisis be the event to kickstart economic, political and regional change. Amidst rising tensions in the Middle East and with Hamas' chief in talks in Ankara with Erdogan, Turkey finds itself in a potentially influential p...

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April 18, 2024 31 mins


The majority of my tribe, economists have been getting it wrong for decades, if you go back and look at economic research from the seventies, nobody is talking about coming inequality. Yet inequality afflicts the West, dominating politics. This week, in a not-so-groundbreaking revelation, Ben Bernanke's report on the Bank of England's failures shows us how out-of-touch economists really are. Economists need to get out more, mix...

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Elon Musk is to 2024 what Howard Roark was to 1943. In Ayn Rand's book Fountainhead, her hero Roark was brilliant, single-minded and flawed. Musk is a modern day Roark and yet despite his remarkable entrepreneurial success, from SpaceX to Neuralink, Tesla is on the skids. 10% of its workforce has just been fired and it's share price has dropped 30% since January, and its market share is dwindling in China. Musk's investments in Chi...

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In this week's episode, we plunge headfirst into the contentious issue of Nimbyism – should property ownership grant individuals the power to stop developments? We don't think so! Particularly not when contrasted with the backdrop of the housing crises gripping the English-speaking world. Bound by the chains of common law but bereft of common sense, our societies find themselves stuck in a self-inflicted housing crisis. Join u...

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Are we truly living in a Plutocracy', where we are governed by the wealthy elites instead of those we voted for? As election season heats up around the globe, we tackle the age-old question: should we tax the rich more? While the wealthy typically oppose such measures, there's one dissenting, wealthy voice: Nick Hanauer, podcaster, venture capitalist, and rich lad himself who thinks that we either force the rich to pay more in taxe...

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Palestine is one of the most, if not the most, tragic national stories of the 21st century. Divided, humiliated, abused, and abandoned by both West and East, the Palestinian nature has been strangled by Israeli occupation, asphyxiated by international indifference, and its children scattered all over the world. Bassem Youssef trained cardiologist turned comedian, talks to us about how the global conversation often reverts back to t...

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Crypto entrepreneur Sam Bankman-Fried was sentenced Thursday to 25 years in prison for fraud on hundreds of thousands of customers that unraveled with the collapse of FTX, once one of the world's most popular platforms for exchanging digital currency. We chatted to Michael Lewis recently, who spent over a year with SBF, immersing himself in the universe of crypto-bros, and recently published his book 'Going Infinite' which tracks b...

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March 28, 2024 29 mins
 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...

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 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 acti...

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March 21, 2024 28 mins
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 cart...

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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 ...

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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 democr...

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March 12, 2024 30 mins
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 as...

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March 7, 2024 33 mins
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...

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March 5, 2024 34 mins
In this episode, we delve into the concept of black swan events and explore how they resonate with contemporary art & culture. A black swan event, a term popularized by Nassim Taleb, describes an unpredictable event with severe consequences beyond normal expectations. Is the tiktokisation of culture that we are experiencing its own black swan event? Is social media to blame for the shift from authentic creation to derivative works ...

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