The Podcast of the Lotus Eaters PREVIEW: Brokenomics | The communist budget alternative
Dec 9, 2025
Richard Murphy, an economist known for his insights on Modern Monetary Theory and the author of the Funding the Future blog, discusses his alternative budget for 2025. He critiques traditional fiscal policies, emphasizing the need to end neoliberalism and proposes new funding strategies for rebuilding Britain. The conversation dives into controversies over money creation, taxes versus interest rates for controlling inflation, and the implications of removing market discipline. Tensions rise as Dan challenges Murphy's views, leading to a lively debate on financial governance.
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An Ambitious Alternative Budget
- Richard Murphy published a 20,000-word alternative budget titled Funding the Future available as a PDF.
- He frames it as ending 45 years of neoliberal failure and rebuilding Britain.
Neoliberalism Versus Managerial Statism
- Dan argues the UK has grown less neoliberal recently due to rising state spending and QE.
- He says increasing state control plus money printing created managerial statism, not neoliberalism.
Government Controls Money Creation, Murphy Argues
- Murphy emphasizes the government creates the money used in the economy and thus controls it.
- He treats that power as central to reconstructing Britain and rejecting funding myths.
