The David McWilliams Podcast - podcast cover

The David McWilliams Podcast

David McWilliams & John Daviswww.davidmcwilliams.ie

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 important to all of us and yet, it’s made inaccessible and complicated by so many.

I’ve always thought what is complicated is rarely important and what is important is rarely complicated.


That will be our motto.


Every week we are going to tease out some big economic or political issue facing us, not just here in Ireland but in Europe and further afield. Globalisation has brought us all together. We all face similar challenges whether you live in Dublin, London, Minnesota or Milan.


If you would like to enjoy all of our content ad-free and have early access to episodes, subscribe to DMCW+ on Apple Podcast.


Want to join our crew? Join at davidmcwilliams.ie/crew, where you can enjoy ad-free listening, as well as exclusive bonus content such as premium episodes, our macroeconomics course, early access to episodes and pre-sale access to tickets for Dalkey Book Festival & Kilkenomics.

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Episodes

Can Europe’s “Hidden Continent” Finally Break Free?

Broadcast from Serbia, this episode dives into the Balkans, the most misunderstood, most underestimated corner of Europe, and one with the biggest upside if it can ever stop tripping over its own history. We look at why Serbia sits so close to Russia, why Kosovo still blocks the country’s European future, and how war, sanctions, hyperinflation, and decades of bad leadership turned a natural crossroads into an economic cul-de-sac. A new generation is pushing back against corruption and state capt...

Feb 26, 202640 minSeason 2026Ep. 17

Can You Prosper Without Building Proper Cities?

This episode begins at the ancient seven-arch bridge in Killaloe, the crossing point where Clare, Tipp and Limerick collide, and jumps to Višegrad in eastern Bosnia, where Ivo Andrić’s The Bridge on the Drina uses one structure to tell a five-century story of tribes, trade, love, and conflict. Back in Ireland, the row over closing the old Killaloe bridge is about suburban sprawl swallowing once-separate towns and turning them into commuter satellites. Ireland has built a low-density model that f...

Feb 24, 202638 minSeason 2026Ep. 16

Revenge of the Nerds

For forty years, the software engineer was the hero of the modern economy. That era may now be ending, fast. In this episode, we argue that software engineers are becoming the horses of the 21st century. Just as the steam engine replaced animal labour, AI is now eating the lunch of human coders, automating what was once seen as elite, technical, and irreplaceable. Stock markets are already reacting, wiping value from software-heavy firms as investors realise that AI’s economic value will be meas...

Feb 19, 202637 minSeason 2026Ep. 15

What Happens to an Economy When Credit Stops Flowing?

Credit is the lifeblood of a modern economy. When it expands, ideas turn into companies, small builders become employers, and innovation compounds. When it contracts, the damage is slower, quieter, and far harder to see. In this episode, we trace what happens when banks stop lending and money stops doing its real work. Using Ireland as a case study, we show how domestic credit has collapsed since the crash, from banks lending 160% of deposits at the peak of the Celtic Tiger to barely 40% today, ...

Feb 17, 202640 minSeason 2026Ep. 14

Can the New Fed Boss Shrink QE Without Crashing Everything?

If central banks “control money,” why do we still get credit booms, banking crises, and bubbles, and what can a new Fed chair actually do about it? Who actually controls money, the central bank, commercial banks, or the markets? We break money into two parts: currency and finance . Once you see that split, a more unsettling reality appears: central banks can set the price of money (interest rates), but they don’t directly control the quantity, because commercial banks create new money every time...

Feb 12, 202644 minSeason 2026Ep. 13

Why Did Bitcoin Crash Again? The Scam That’s Been Around Since Dante

Not even “thermodynamically sound energy through time and space” makes Bitcoin money. In this episode, we take another hammer to the sacred cow of crypto and ask a simpler question: what does money actually have to do to count as money? We revisit our infamous chat with Michael Saylor at peak crypto-poetry, then go where all good monetary debates should go; back to the original forgers and the original punishments. Dante put counterfeiters near the bottom of hell for a reason: mess with money an...

Feb 10, 202640 minSeason 2026Ep. 12

Swipe Left on Society: Singledom, Sexless Men, and the New Politics of Loneliness with Aideen McQueen

We think the biggest cultural shift of the last 15 years is inflation, immigration, or housing. It isn’t. It’s singledom, a shockwave moving through Western societies since the smartphone slid into our pockets and quietly rewired how we meet, desire, commit, and build a life. On today’s episode, we unpack the numbers that should make policymakers sit upright: around half of men and 43% of women aged 25–35 now have no partner, and the trend has worsened sharply in just the past decade. If couplin...

Feb 05, 202649 minSeason 2026Ep. 11

Stop Wasting Your Talent and Start Making a Difference with Rutger Bregman

In a world where “might is right” is having an ugly little renaissance, Rutger Bregman returns as the perfect antidote: a stubborn, data-backed case that humans are cooperative, that culture is malleable, and that your career doesn’t have to be a slow-motion betrayal of your ideals. We talk about his new book Moral Ambition , and the “Bermuda Triangle of talent” of consulting, finance, and corporate law. Along with the quietly shocking stat that one in four people doubts their job is socially me...

Feb 03, 202648 minSeason 2026Ep. 10

Ireland’s American Problem: The Jockey, the Horses, and the End of the Easy Money Era

Ireland stands at a crossroads, having long benefited from its unique position as a US economic bridgehead into Europe. As the "Pax Americana" era wanes and a potential US-Europe rupture looms, Ireland's financial reliance on American corporations poses a significant risk. The podcast advocates for a proactive strategy: utilizing the current corporate tax windfall to accelerate public infrastructure projects and establish a Schumpeter-style startup fund to foster a new generation of Irish entrepreneurs, thereby transforming the country into an innovation hub to navigate this global shift.

Jan 29, 202638 minSeason 2026Ep. 9

The Great Global Rebalancing: How Trump's America is Losing its Grip on the World's Capital with Sony Kapoor

Everyone watched Trump at Davos and thought they were seeing American power. We think they were seeing something else: a flashing warning light. The core idea of this podcast is simple: diversification is the oldest rule in investing, and the world has ignored it. We’ve funnelled a staggering share of global capital into the United States, treating U.S. markets and Treasuries like the default “safe” option. But now, with Trump openly threatening tariffs on anyone who dares to sell U.S. assets, t...

Jan 27, 202645 minSeason 2026Ep. 8

The old order is not coming back. We should not mourn it. Nostalgia is not a strategy!

This episode is a deep dive into a simple claim: This is the year the mask slipped. The United States has decided that the grand bargain it presided over since 1945 is finished, and the consequences are immediate for markets, alliances, and Europe’s security. We begin in Japan, where a sharp move in long-term government bond yields is forcing a rethink of the global carry trade, and shaking risk assets worldwide. Then we go to Davos, where Mark Carney frames the moment as a “rupture, not a trans...

Jan 22, 202649 minSeason 2026Ep. 7

Trump vs. The Fed: Sabotage, Showdown, or Economic Revolution?

Donald Trump is taking aim at the most powerful, and most opaque, institution in the global economy: the Federal Reserve. By moving to oust Jay Powell through a criminal investigation, Trump has triggered a battle that cuts to the heart of who really controls money in America, and by extension, the world. Is this an unprecedented act of economic sabotage? A dangerous authoritarian power grab? Or is Trump simply calling the bluff of a self-regarding central banking elite who’ve been pulling the l...

Jan 20, 202640 minSeason 2026Ep. 6

The Great Uncoupling & Fiscal Crisis: America, Europe & the Bond Market Reckoning

America and Europe are drifting apart, not just politically, but philosophically. In this episode, we dig into the consequences of that split, comparing today’s transatlantic rupture to one of the most overlooked geopolitical divorces of the 20th century: China’s break from the Soviet Union in the 1960s. We explore how competing worldviews, liberal restraint versus autocratic power are reshaping global alliances, leaving Europe disoriented and exposed. Drawing on history, geopolitics and economi...

Jan 15, 202654 minSeason 2026Ep. 5

The Bipolar Economy: Trump, Oil & the End of Balance with Carole Nakhle

In a single week, Donald Trump goes after the Federal Reserve, criminalises Jerome Powell, and shakes the idea of central bank independence, the quiet pillar holding the global financial system together. At the same time, two oil superpowers, Venezuela and Iran, slide into fresh instability. Coincidence? Not quite. We unpack a world that feels wildly out of balance. In the U.S., markets are booming while consumer confidence collapses. The top 10 stocks now make up 40% of the S&P 500, profits...

Jan 13, 202649 minSeason 2026Ep. 4

Venezuela Falls, Cuba Trembles with Marla Dukharan

Washington moved on Venezuela, and the shockwaves are racing across the Americas. Oil, refugees, collapsed regimes, back-room deals: this may spell the beginning of the end for Cuba’s 65-year experiment, and the most dramatic geopolitical reset in the region since 1989. We head to the Caribbean to ask who wins, who loses, and who has been quietly complicit all along. Economist Marla Dukaran joins us from Trinidad with jaw-dropping numbers: Caribbean states racked up debts to Venezuela worth 20–5...

Jan 08, 202646 minSeason 2026Ep. 3

After Maduro: Who Really Runs Venezuela Now? with Juan Tokatlian

Broadcasting from the streets of Medellín, we dive into Latin America’s reaction to the stunning removal of Nicolás Maduro, and the strange new reality taking shape in Caracas. Is this regime change, an oil grab, or something far more experimental? We’re joined again by Latin America analyst Juan Gabriel Tokatlian, who argues this is the birth of something unprecedented: a U.S.-managed protectorate where Washington negotiates directly with whoever actually holds power,the military and the Chavis...

Jan 06, 202644 minSeason 2026Ep. 2

What If 2026 Is the Year America Leaves Us Behind?

It’s 2026, and Ireland is skating on a thin economic edge. With the US retreating from Europe, American industry is stalling here, no new labs, no new factories. Our entire model of tax-light, job-rich multinational growth might be reaching its sell-by date. The housing crisis rages, younger people emigrate, and a risk-averse political class hides behind admin. We break down the "known knowns" for Ireland’s year ahead, from capacity crunches to a society shaped by contentment, not ambition. And ...

Jan 01, 202642 minSeason 2026Ep. 1

What's Really Going on In Venezuela? Oil, Empire & the Next Proxy War

Venezuela once rivalled Switzerland in wealth, today it’s produced more refugees than Syria. What happened? We go straight to Buenos Aires to talk to leading Latin American analyst Juan Gabriel Tokatlian about how a petrostate collapsed without a war, why US policy is pushing the region to the edge, and what might really be behind American naval deployments off the Venezuelan coast. Is regime change in the air? And if Venezuela falls, is Cuba next? Latin America may be Washington’s backyard, but...

Dec 30, 202546 minSeason 2025Ep. 105

2025: China’s Year

For 2,000 years, China has played a different game. While Europe fragmented, fought, and conquered outward, China focused inward, on standardisation, stability, and turning a vast empire into a single nation. In this episode, we explore why China emerged from 2025 stronger than any other power, why it has no interest in ruling the world, and why that restraint may be its greatest strength. From the invention of a shared written language to state exams, from imperial bureaucracy to modern supply ...

Dec 23, 202543 minSeason 2025Ep. 104

Was Genghis Khan the World’s First Globalist?

We usually remember Genghis Khan as history’s ultimate destroyer but what if he was also its first great economic integrator? In this episode, we rethink the Mongol Empire not as pure terror, but as the largest continuous free‑trade zone the world has ever seen, stretching from Korea to Ukraine. By reopening the Silk Road after a thousand years, the Mongols allowed ideas, technologies, and capital to flow from China to Europe; paper, gunpowder, money, insurance, trade associations, even early gl...

Dec 18, 202538 minSeason 2025Ep. 103

Can Wind Power Make Us Rich Again?

Ireland controls seven times more sea than land, and with the Atlantic blowing 25% stronger winds than the North Sea, we sit on one of the greatest untapped energy jackpots on Earth. This episode dives into the staggering 600 gigawatt potential of offshore wind off Ireland’s coast, enough to power every home and factory in the EU, several times over. So why haven’t we built a new offshore wind farm in 20 years? From floating turbines to fiscal unions, Dutch perpetual bonds to data centres in the...

Dec 16, 202543 minSeason 2025Ep. 102

Europe Under Threat: Can the Centre Hold?

Europe is under pressure militarily, economically, and politically. NATO spending is up 45% since 2014. Germany’s exports to China have dropped 11% in a single year. France is bracing for a possible far-right presidency. Here in Ireland, neutrality suddenly feels less like a principle and more like a liability. In this episode, we ask: is Europe still a power bloc, or just a museum with great croissants? From Russian disinformation to Chinese green tech dominance, we break down the numbers behin...

Dec 11, 202547 minSeason 2025Ep. 101

The Great Affordability Lie?

Around the world, people feel poorer, even when the numbers say we’ve never been richer. In Ireland, GDP is soaring, household wealth has more than doubled since 2014, and yet most families are pinned to their collar. Why? Because the official poverty line is €33,600, but it now takes at least €52,000 a year just to stay afloat. That’s a 40% gap between what’s measured and what’s felt. Rent has passed €2,000 a month, groceries are up 16% in a year, childcare can cost over €1,000 monthly, and sti...

Dec 09, 202536 minSeason 2025Ep. 100

Petty Lines in the Sand

We’re diving into the economics of borders, the lines we pretend are ancient but were mostly scratched into the earth by soldiers, surveyors and empire-builders with rulers. From Ukraine’s shifting frontlines to Dublin’s Herzog Park, to Northern Ireland’s uneasy edges, we trace how geography becomes politics. Then we go back to the original culprit: William Petty, Cromwell’s cartographer, the man who mapped Ireland in 13 months and turned land into an asset class. His Down Survey redrew Ireland ...

Dec 04, 202537 minSeason 2025Ep. 99

China Explained with Dan Wang

We talk to writer and analyst Dan Wang, whose book Breakneck argues that China is an engineering state, run by people who build, while America, Ireland and the wider Anglosphere have become lawyer states, run by people who litigate. China lays highways and high-speed rail at warp speed; common-law countries file objections and environmental reports. Europe, meanwhile, risks turning into a mausoleum economy with great croissants, beautiful cities, and a shrinking industrial base. We ask does Chin...

Dec 02, 202550 minSeason 2025Ep. 98

Is Central Asia the Next Front Line of Global Power? with Peter Frankopan

Leaving the US after weeks on the road, we zoom out from New York and Washington and asks a question we almost never ask in Europe: what if the real future of geopolitics isn’t in Brussels, Beijing or DC, but in Central Asia? To get there, we bring in historian Peter Frankopan, author of The Silk Roads , to map the region we lazily call “the Stans”; Kazakhstan, Uzbekistan, Tajikistan, Kyrgyzstan and Turkmenistan, plus Afghanistan, Iran and their neighbours. Together we unpack why this vast strip...

Nov 27, 202539 minSeason 2025Ep. 97

Why Can’t the West Build Anymore?

Reporting from New York, with a Bitcoin slump at his heels and the Hollywood-launch buzz of Money: A Story of Humanity still in the air, we dive into one of the most important economic questions of 2025: why can America, Ireland, and Britain no longer build the infrastructure that made them great? From the riveted, soot-stained genius of the New York subway to China’s ability to throw up a hospital in ten days, we explore a new way of understanding global power: engineers vs. lawyers. Guided by ...

Nov 25, 202539 minSeason 2025Ep. 96

Is $4,000 Gold the First Crack in the Fiat Era?

Broadcasting from under the Hollywood sign in the middle of a rare Californian downpour, we follow the water straight into the gold. Starting with LA as a city built on pure imagination, we jump back to the original gold rushes that reshaped the map: California in 1849, the Australian fields, the Klondike, and the deep shafts of South Africa. We meet Johann Sutter and the prospector who accidentally ruined his carefully built New Helvetia, the pioneers who turned empty coasts into booming econom...

Nov 20, 202532 minSeason 2025Ep. 95

Hollywood, Soft Power & Ireland’s Anti-American Left?

Reporting from West Hollywood, in a rock ’n’ roll hotel with no parties and no drugs as house rules. We take a walk down Sunset Boulevard and into the strange engine of L.A.: a city built almost entirely on imagination, storytelling and constant reinvention. From Mulholland’s aqueduct to the studios that wrote America’s myths, we asks: what does a place like this tell us about capitalism, churn and the Uber-ised, gigged-out modern economy? From there, we fly back into something touchier: Ireland...

Nov 18, 202548 minSeason 2025Ep. 94

Vibecession, AI Mania & The New Casino Economy with Kyla Scanlon

Live at Kilkenomics, we welcome Roscommon's own economics star Kyla Scanlon author of In This Economy for a fast, funny, and razor-sharp tour of where money and mood collide. We get into her “vibecession” idea on why feelings beat spreadsheets, the AI splash that’s propping up markets, and why America is drifting from a work economy to a casino economy. Why are unprofitable companies dominating the stock market? What happens when a whole generation treats the economy like a casino? And how did s...

Nov 13, 202538 minSeason 2025Ep. 93
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