What if everything you knew about supply and demand was a lie?
In this episode, heterodox economics student Kent Getsinger introduces us to Fred Sterling Lee—the greatest economist you’ve never heard of. Lee didn't just question mainstream economics; he mathematically proved that the "law" of supply and demand does not exist.
Stripping away orthodox ideology, this episode reveals the radical truth: the prices we pay aren't natural laws, they're the result of raw class power.
Tune in for an economic reality check that’s like telling the Pope there is no God.
Public Money Public Good (PMPG)
Fred Lee's 'grandiose' project: Towards a unified heterodox model? (presentation Kent Getsinger)
Modern Money Lab (MML)
Fred Lee's Last Graduate Heterodox Micro of 2013/2014 (video)
Microeconomic Theory: A Heterodox Approach (book)
By Frederic S. Lee, Tae-Hee Jo
Post Keynesian Price Theory (book)
by Frederic S. Lee
Frederic Sterling Lee (economist)
The Code of Capital: How the Law Creates Wealth and Inequality (book)
by Katharina Pistor
Inquiry into Price Gouging and Unfair Pricing Practices (report, 2024)
Findings of the Inquiry chaired by Professor Allan Fels AO –
former chairman of the Australian Competition and Consumer Commission (ACCC)
Other economists mentioned, in order of appearance:
Pleading Ignorance, by Ed Kuepper, from the album Starstruck.
Too Many Things, by Ed Kuepper, from the album Starstruck.
Hey Yaba by Djawarray
from the album Magayin (Stand & Rise)
Wulman Wulman by Djawarray
from the album Magayin (Stand & Rise)
Anne Maxwell & Kevin Gaynor
