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Phil Armstrong

Phil Armstrong

Dr Phil Armstrong is a UK heterodox economist and MMT scholar, author of "Can Heterodox Economics Make a Difference? Conversations With Key Thinkers" (Edward Elgar, 2020).

Sep 23, 2026

16:38
Phil, if you were on a TV show as an economist and you were asked to comment on Burnham's economic vision, how would you go about maybe trying to change that framing of the government as a borrower of private sector's money?
16:53
Well, of course, if I was just going to tell the truth, say we had Andy Burnham with us on the show and he trusted us, that's a big thing.
17:01
And we told him how the system works.
17:04
And then he said, yeah, I get it.
17:06
Now, he might have to then say, well, how am I going to tell people what I'm doing? Because people are so hardwired to think the national debt is private sector's debt somehow.
17:18
They don't understand two sides of a balance sheet.
17:20
So there are political difficulties.

13 MINS LATER

29:52
So do you have any thoughts on that? Does that maybe constitute advice for policy activists?
25:41
Is that worth unpacking a little bit?
25:43
Yeah, I mean, a lot of it comes from my naivety, Christian.
25:47
So if you can imagine, I'd been obviously teaching for a long time.
25:52
I got back into sort of studying economics again.
25:55
I did a master's in the 80s, as possibly mentioned, and I got into post-Keynesianism.
26:01
And I was really interested in economics when I did the master's.
26:04
And it was a part-time at Leeds.

11 MINS LATER

37:04
And if you had the chance to speak to that, what would you say?

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