William Stanley Jevons podcast
This is from Economics in Ten podcast, season seven, episode three. Jevons was one of the architects of the Marginal Revolution and the economist who insisted that economics must be a mathematical science, a claim that reshaped the whole discipline. His development of marginal utility theory is foundational to how we explain demand curves and consumer behaviour, which makes this one of the more directly relevant episodes for early A-level micro content. He also has a bizarre
Robert Lucas Jr. podcast
This is from Economics in Ten podcast, season seven, episode two. Robert Lucas was the leader of the New Classical school and the man most associated with putting Keynesian economics on the back foot in the 1970s. His ‘rational expectations’ hypothesis (the idea that people anticipate government policy and adjust their behaviour accordingly, which limits its effectiveness) is a useful idea for evaluating demand-side policy. The episode also covers the Lucas critique, his wedg
Hyman Minsky podcast
This is from Economics in Ten podcast, season seven, episode one. When the Queen asked economists why nobody saw the 2008 financial crisis coming, the honest answer was that Hyman Minsky had, decades earlier. His ‘financial instability hypothesis’ and the idea of a ‘Minsky moment’ (the point at which a debt-fuelled boom tips into a crash) became suddenly fashionable after 2008. The episode covers why stability can paradoxically sow the seeds of instability, and why Minsky bel