Why our obsession with money is keeping us poor (and why changing interests rates won't make us richer)

In this episode, the host discusses the concept of 'money centrism,' which refers to the fixation on money as the solution to economic problems, rather than addressing the underlying real resources and their distribution. He highlights how this obsession leads economists and policymakers to respond to crises, such as the 2008 financial crisis and the COVID-19 pandemic, with monetary policies like slashing interest rates and quantitative easing.

The host recounts experiences with economists who insist that further adjustments to monetary policies could resolve issues, demonstrating a collective failure to recognize the significance of real resource management. He argues that this pattern ignores the consequences of wealth redistribution and results in declining living standards.

Furthermore, he explores the historical parallels with past religious debates, suggesting that society's current worship of money distracts from acknowledging the importance of tangible resources. He offers examples from COVID where the expectation of economic revival based on monetary distribution failed to materialize, instead leading to inflation and asset price inflation without real resource increase.

The episode concludes by asserting that economic growth cannot happen without accounting for real resources' distribution and emphasizes that the wealthy, who own the majority of resources, must be addressed through taxation or other means to allow genuine economic growth for the broader population.