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The David McWilliams Podcast

Economics in a Tent: Live at Electric Picnic 2025

The David McWilliams Podcast

David McWilliams

News & Politics

4.6643 Ratings

🗓️ 4 September 2025

⏱️ 47 minutes

🧾️ Download transcript

Summary

We took economics to a music festival, and somehow packed the tent. In this Electric Picnic highlights episode from Mindfield, we rock up bleary-eyed and buzzing, then dive straight into the big stuff: what Trump’s assault on America’s institutions means for money, markets, and the rest of us. We map the new super-cycle from post-war social democracy to Reagan-Thatcher finance, to today’s populist reboot, and why we think the US is flirting with a fiscal, monetary, and dollar crunch. Closer to home, we ask why Ireland looks rich on paper but feels poor in reality. In between, we tell the story of the 1992 currency crisis, a lo-fi mission to the Dorchester, and accidentally swapping the Central Bank for UBS and because we were literally in a field surrounded by stages, we tackle the music economy: streaming’s winner-takes-all logic, Daniel Ek’s “music costs almost zero,” algorithms that feed nostalgia over novelty, and why culture only renews when the young can afford to create. 

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Transcript

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0:00.0

Just a reminder, dear listener, if you were going to Electric Picnic,

0:03.8

John and I are doing a live podcast in Mindfield,

0:09.2

5 o'clock Friday the 29th in the middle of a field in County Leash,

0:14.7

live podcast.

0:15.7

We will talk to you and see you there.

0:17.5

It'd be a humdinger.

0:19.0

To understand the economy, you have to understand human nature.

0:25.2

This podcast is powered by ACAST.

0:30.9

How you doing there?

0:32.2

Hope all as well.

0:33.7

Today's podcast is the highlights of the live podcast that John and I did in Mindfield at the electric picnic.

0:42.1

It was a brilliant, fantastic weekend.

0:44.2

Did you enjoy it, Charlie Boy?

0:45.2

I loved it.

0:46.0

Full house and all.

0:47.2

Absolutely.

0:48.0

And as you said, economics in a music festival, who knew?

0:53.1

Who knew?

0:54.0

Exactly. It's a reflection of the paucity and

0:56.7

pathetic degradation of popular culture that economics has elbowed its way in to a live music festival.

1:03.0

Do you rock and roll, Mac? Do you rock and roll? We saw lots of bands. We stayed up very late,

1:08.1

far too late. But this podcast goes out to three particularly

...

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