The David McWilliams Podcast

By David McWilliams & John Davis

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 importa

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FAQs about The David McWilliams Podcast:

How many episodes does The David McWilliams Podcast have?

The podcast currently has 591 episodes available.

The David McWilliams Podcast episodes:

August 28, 2025 Germany, 10 Years After “Wir Schaffen Das”, What Really Happened? with Katja Hoyer
Ten years ago, Angela Merkel opened Germany’s doors to more than 1.1 million asylum seekers in a single year with the words “Wir schaffen das” (“We can do this”). Today, Germany has over 3.4 million asylum seekers, about 4% of its population, and politics, society, and culture have been transformed. In this episode, we dive into what really happened over the last decade. We talk with historian Katja Hoyer about the numbers, the culture clashes, the rise of the AfD from a fringe party to polling at 25%, and the everyday realities in towns where the refugee population doubled overnight. From schools where 80–90% of kids now have migrant backgrounds, to half of Germany’s welfare claimants being non-Germans, the story is as much about economics and integration as it is about politics. We pull it apart: the hopes, the backlash, and the future of immigration policy.
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37min
August 26, 2025 The Nationalisation of the New Home Market
The state has quietly become the biggest buyer of new homes. In fact, builders like Cairn Homes now have forward sales of nearly €946 million, much of it locked in by government deals. That means up to 80–85% of new builds are being bought by the state, at an average price of €382,000 per unit, while wages lag far behind rising house prices, which jumped 7.8% last year. So who’s being pushed out? First-time buyers. Instead of solving the housing crisis, the state is inflating prices, nationalising the property market by stealth, and creating what could be the most expensive council houses in the world. In this episode, we join the dots between Dutch disease, tax windfalls, political PR, and the future of Irish society. Why are nurses, teachers and young couples emigrating when billions are gushing into Ireland? And how did estate agents, once kings of the market, become an endangered species? We break it all down, numbers, history, and politics, to show why the government itself is now the main culprit behind Ireland’s housing mess.
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34min
August 21, 2025 Ukraine at the Crossroads: From Donetsk to the Garrison State
After nearly 11 years of war, Putin’s maximalist demands have shrunk to a sliver of land in Donetsk, a pyrrhic victory after countless lives lost and millions displaced. But while the Kremlin clings to a symbolic scrap of territory, we explore whether Ukraine’s true future lies not in NATO membership but in becoming what political economist Harold Laswell once called a “garrison state.” What does that mean? Think of countries like Israel, Taiwan, South Korea, or even Finland in 1940: highly militarised, heavily armed by allies, but able to survive and rebuild under constant threat. Could this be Ukraine’s path, a nation of 40 million people with a vast agricultural base and heavy industry, rebuilt under an American security umbrella and billions in European aid? We pull apart the history: from the Treaty of Moscow (1940) that fixed Finland’s borders for decades, to Eisenhower’s warning of the military–industrial complex, to the Peloponnesian War’s clash of Sparta and Athens. Can democracy thrive in a garrison state? Is Europe ready to bankroll Ukraine’s reconstruction? And will turning Ukraine into a military bulwark finally secure peace, or only prepare the ground for the next war?
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42min
August 19, 2025 Ireland is a Hostage to Fortune
Have we caught a case of Dutch Disease? Ireland’s dependence on foreign multinationals looks less like a golden goose and more like Japanese knotweed, invasive, overwhelming, and slowly strangling everything around it. Yes, the jobs are plentiful and the tax coffers are bulging, but the hidden costs are piling up: small businesses being elbowed out, rents spiralling, public spending ballooning, and a state increasingly captured by the very companies it courts. We trace how multinationals now pay almost 90% of our corporate tax, how graduates are sucked into big tech rather than start-ups, and how housing and wages are being distorted in the process. Ireland’s economy, once sold as nimble and entrepreneurial, is bending instead to the whims of boardrooms in California and Basel rather than Leinster House. Along the way we draw comparisons to the Premier League eclipsing Irish football, Trump’s short-term deal-making on the world stage, and even brothel keepers in Saigon.
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39min
August 14, 2025 America’s Dutch Disease: How Debt Became the World’s Hottest Export
We’ve always known Dutch Disease as what happens when a country strikes oil or gas and accidentally hollows out the rest of its economy. But what if the United States’ great “resource discovery” wasn’t energy, it was debt? This week we talk to Brendan Greeley about his brilliant framework for understanding America’s political economy: the world’s insatiable appetite for U.S. Treasuries has turned debt into a commodity tap Washington can turn on at will. We explore how this constant borrowing props up the dollar, guts manufacturing, swells Wall Street, and fuels a political scramble for control of the spigot, with eerie parallels to Ireland’s own multinational tax windfall. Along the way, we ask why old economic theories can’t explain the dollar’s resilience, why quality of spending matters more than quantity, and what history says about how this all might end.
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41min
August 12, 2025 From The Godfather to the Blockchain: How Easy Money Seduced Wall Street (and the White House)
We’ve always said to understand the economy, you have to understand human nature, and nothing reveals that better than watching the biggest players do a Godfather-style U-turn for easy money. In this episode, we connect the dots between Marlon Brando’s Don Corleone and Jamie Dimon’s pivot from calling crypto “a fraud” to using it as loan collateral, all while the President of the United States holds stakes in coins of his own. We unpack how the $2 trillion crypto market has morphed from anti-Wall Street rebellion to one of the most powerful lobby groups in America, funnelling cash to Congress to rewrite the rules. Along the way, we lift the lid on stablecoins, explain why money is a public good (not a private printing press for the TikTok age), and ask what happens if the dollar’s last line of defence, the Fed, gets taken out. Life imitating art imitating life… and the ending might not be pretty.
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27min
August 07, 2025 Japan: Lost in Translation Part Two
We all love a boom story, until it turns into a 40‑year hangover. In 1995, Japan’s nominal GDP hit its high‑water mark. It took until the 2020s to get back there. Debt has exploded to 250% of GDP. The population is shrinking so fast that by 2070, one in three Japanese will have vanished, down from 128 million in 2010 to just 87 million. What went wrong? A bursting property bubble, a banking system in denial, and a culture where shame trumps change. For four decades, Japan has been the economic equivalent of a superstar striker refusing to retire; still wearing the jersey, but stuck on the bench.
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42min
August 05, 2025 Japan: From Feudal Isolation to Economic Superpower
This week marks 80 years since the atomic bombings of Hiroshima and Nagasaki, and we’re taking a deep dive into Japan’s extraordinary economic story. In part one of our two-part series, we explore how Japan went from a feudal, isolated society to one of the most powerful economies in the world. With our guest Russell Jones, a brilliant economist and my old boss, we look at the Meiji Restoration, post-war reconstruction under America’s wing, and the wild property and stock market bubble of the 1980s. Along the way, we chat about Trump’s war on economic statistics, a touch of Cold War nuclear tension, and even a special Electric Picnic-related announcement!

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44min
July 31, 2025 Generation Rent: How Housing Costs Are Exporting Ireland's Future
This week we talk to Matthew Ruddy, a young Dublin entrepreneur who did everything right - built his first business at 17, worked alongside the lads at Dogpatch Labs. Except he's now living in Brisbane, not Dublin. Matthew's story captures what's happening to an entire generation. These aren't traditional emigrants heading to London building sites, they're highly educated risk-takers who desperately want to stay home but can't afford to take entrepreneurial risks when rent costs two grand a month. The statistics are staggering: home ownership among 25-34 year olds has fallen by 48% since the mid-90s; the highest decline in the world. This housing catastrophe is causing a mental health crisis among young adults in English-speaking countries, with Ireland leading the pack. It's creating a vicious cycle where young talent either takes safe multinational jobs or emigrates entirely, starving Irish startups of the people they need. Meanwhile, we're left wondering where all the young entrepreneurs have gone. They're everywhere but home.

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34min
July 29, 2025 Did Europe Just Surrender to Trump?
Not so fast! We unpack the surprise EU-US trade deal that has everyone shouting sellout but we see it differently. In this episode, we take a deeper look at what really went down in the Trump-triggered tariff negotiations. The headlines scream defeat: Europe folds, Trump wins, 15% tariffs slapped on all EU goods while the US gets full access to the European market. But is that the full story? We break it down, the EU runs a $200 billion trade surplus with the US. So why would they agree to this? Because sometimes in poker, the smartest move is folding a bad hand to fight another day. We also lift the lid on the civil war brewing within Europe: the Commission vs. the member states, nationalism vs. federalism, free trade idealism vs. geopolitical realism. Germany wants to protect its cars. France its booze. Ireland? Our pharma sector’s now hanging in the balance. We talk street-fighting Trump vs. rulebook Europe, why this deal might actually be good news for investment in Ireland.

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33min

FAQs about The David McWilliams Podcast:

How many episodes does The David McWilliams Podcast have?

The podcast currently has 591 episodes available.

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