This Reboot Republic talks to Professor Emeritus of Economics of Trinity College Dublin, PJ Drudy about a new economics for society wellbeing and home. PJ lectured Rory on economics in his degree, and reveals how Rory was as a student! He also discusses the limits to understanding housing through a market theory of economics, as aspects such as housing demand do not capture need, it is based on ability to pay, which leads to exclusion. PJ and Rory discuss how markets fail all the time, and investor funds deliver housing as a profit generating commodity and therefore do not provide for housing need. They also talk hope in solutions such as the state building cost rental, affordable homes on scale, housing for disabled people, treating housing as a human right, and a culture change and the need for people to raise their voice to persuade for real change. PJ outlines a vision for an economics for society that places caring central.
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I enjoyed your podcast and found some of the ideas very powerful. These ideas need to be communicated rigorously. I am left wondering whether you are up for making a serious contribution to that effort or if it is just another podcast for you. I have two comments. … First, the narrative is not sufficiently credible without acknowledging the crucial role of low interest rates in creating or exacerbating the problem. Second, the problem exists to a greater or lesser extent in many countries driven, in part, by the same forces.