Economist, writer, broadcaster and founder of Kilkenomics, David McWilliams joins Bruce Whitfield to explore the role of money in human decision-making. From ancient Mesopotamia to modern geopolitics, David unpacks how money—entirely fictional yet deeply influential—shapes our behaviours, decisions, and societies. Why does traditional economics miss the mark? How can humor democratize economic literacy? Why is investing in yourself the most liberating financial decision you can make?

Chapters

00:00 – 01:52 | The Nature of Economics
Why economics is about humanity, not numbers. Money as a made-up but powerful force.

01:53 – 05:45 | What Economists Get Wrong
The plumbing analogy: why economists understand mechanics but not meaning. The limits of academic jargon.

05:46 – 06:40 | The Origins of Money
Mesopotamia, the move from barter to symbols, and how money emerged as a trust technology.

06:41 – 09:10 | Commerce, Counting, and Religion
How commerce required writing, courts, laws, and even religion to underpin trust at scale.

09:10 – 14:11 | Weaponized Economics & Global Decisions
How money disciplines power—particularly in US politics. Financial markets as democracy’s silent opposition.

14:12 – 17:54 | Supercycles and Global Volatility
Understanding the big turning points in modern economic history and the new age of economic nationalism.

17:55 – 21:08 | Kilkenomics & Humor as a Lens
How comedy disarms economic elitism. Making economic insight accessible through laughter.

21:09 – 24:52 | The Ultimate Decision: Invest in Yourself
Why the most powerful financial move is personal investment—and why time always wins over money.

Key Takeouts

• Economics is about people, not equations.
  McWilliams repositions economics as a human science, not a mathematical one.
• Money is a trust technology.
  It’s not just for transactions—money enables society-wide collaboration and exchange.
• The origins of money are rooted in societal complexity.
  Writing, religion, and legal systems all emerged alongside money to manage new forms of human connection.
• Money disciplines power.
  Markets react faster and more decisively than politics, curbing megalomania through economic consequences.
• We are entering a new supercycle.
  The era of globalization is ending, and a more nationalist economic era is emerging.
• Humor can teach economics.
  Kilkenomics proves that removing jargon and adding laughs makes financial knowledge more democratic.
• Invest in yourself.
  The single most powerful decision is to put your energy and resources into your own growth.

 Memorable Quotes

“Economics is the study of humanity.”

“Money is a dangerous and beautiful substance.”

“Money is putting manners on megalomaniacs”

“The beautiful thing about money is it’s entirely made up. It doesn’t exist.”

“In the battle between time and money—time always wins.”

“Never outsource investment decisions about your life to others.”

“Economics is what happens inside our ears.”

“Kilkenomics is about breaking down the barriers between economic expertise and everyday understanding—through comedy.”
— Bruce Whitfield

References & Mentions

• David McWilliams’ book: Money: A Story of Humanity
• Kilkenomics Festival – An economics and comedy festival in Kilkenny, Ireland
• Paul Krugman – Nobel laureate economist and Kilkenomics speaker
• Reagan & Thatcher Era – Markers of the last economic supercycle
• Xi Jinping and U.S. politics – Case studies in economic decision-making under global flux