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Contra Krugman

Join Bob Murphy and Tom Woods in this weekly libertarian podcast as they teach economics by refuting Paul Krugman's New York Times column. Plus, expect special guests like Ron Paul, David Stockman, and more!
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Contra Krugman
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Mar 16, 2019

Krugman can't get over the stupid things his opponents get upset about, and how full of irrational rage they are -- quite unlike today's left, you understand.

Show notes for Ep. 180

Mar 9, 2019

This week, although we do cover Krugman a bit, we use a recent Caitlin Johnstone article as a springboard for discussion. With social media and traditional media in swarm mode against perpetrators of thoughtcrime, what is the best approach to maintain one's good name?

Show notes for Ep. 179

Mar 4, 2019

This week Krugman endorses Elizabeth Warren's plan for subsidized child care at the federal level. It's so cheap, and it would help so many people! Meh.

Show notes for Ep. 178

Feb 23, 2019

Modern Monetary Theory (MMT) is picking up steam (thanks to Alexandria Ocasio-Cortez and Bernie Sanders), to the point that even Krugman is alarmed. Yes, he says, you will have to raise taxes to pay for what progressives want. This is the episode folks have been asking us for.

Show notes for Ep. 177

Feb 14, 2019

Socialism isn't all that radical, insists Krugman. Plus: virtually all people who call themselves socialists just want to be like Denmark, not Venezuela or the Soviet Union. They just want poor people cared for! Anyone who thinks nicey-nice socialism like this could lead to bad outcomes is crazy and unreasonable, he says. So, as usual, we respond.

Show notes for Ep. 176

Feb 8, 2019

Krugman says nobody really supports free-market (what he calls "conservative") economics. Racists tolerate it because it's the only way they can get their racism fix; the Republicans, who give them the racism they seek, cling to "conservative" economics, so racists grudgingly accept it. But most Americans are far left on economics, which is why Howard Schultz, who's trying to combine some kind of fiscal restraint with social liberalism, is encountering so much hostility. It's a nutty column, but it yielded a great, punchy episode.

Show notes for Ep. 175

Feb 2, 2019

The proposals to tax the rich much more heavily are coming fast and furious from Democratic presidential candidates. We examine the ideas and so-called economics behind it all.

Show notes for Ep. 174

Jan 26, 2019

Krugman says that the case for putting the government directly in charge of approximately one-third of the economy is very strong. We're not so sure it's quite so strong.

Show notes for Ep. 173

Jan 19, 2019

Krugman points out that even though Republicans have been calling for limited government for as long as anyone can remember, now that the federal government shutdown is upon us they're desperate to get emergency funding for various government functions. In this episode, we discuss this argument, as well as whether the shutdown is really a "big libertarian experiment," as Krugman claims.

Show notes for Ep. 172

Jan 12, 2019

Paul Krugman loves Alexandria Ocasio-Cortez, and says her suggestion for a much higher top marginal income tax rate is actually well founded and economically sound. Now if the column were just about that, it'd make for a great episode of Contra Krugman. But the way Krugman speaks of "the rich" is downright sinister, and we hit that head on as well.

Show Notes for Ep. 171

Jan 7, 2019

Krugman can't believe that the same people warning about expansionary monetary policy under Barack Obama are suddenly concerned about contractionary monetary policy under Donald Trump. You already know part of the answer: Krugman is as inconsistent as the folks he criticize are. But we have much more for you, particularly: what's so bad about the Federal Reserve's intervention into the economy?

Show Notes for Ep. 170

Dec 23, 2018

Why can't Krugman be a plain old economist who speaks in a nonpartisan way? That's what supporters asked after hearing him speak dispassionately about trade on a recent podcast. His answer: people who oppose me on fiscal and monetary policy are partisan cranks with no scientific standing, so they deserve to be smashed. In this episode, we do the smashing.

Show Notes for Ep. 169

Dec 18, 2018

Newly elected member of Congress Alexandria Ocasio-Cortez has been calling for a "Green New Deal," which she says will at once confront the dangers of climate change and also provide good jobs at living wages and overturn racial and gender injustices. We are unconvinced.

Show notes for Ep. 168

Dec 12, 2018

We take on additional hard questions for libertarians: quarantines (for infectious/incurable diseases), terrorism, Somalia, and climate change.

Show notes for Ep. 167

Dec 1, 2018
Krugman took questions last week on Quora, and they spanned a wide range:
 
-- Has Keynesian economics failed America?
-- What are the causes of inequality?
-- What will Trump's long-term economic legacy be?
-- Why haven't wages increased alongside corporate profits?
-- Would universal basic income work?
-- Can Krugman refute "trickle-down" economics?
-- and a whole bunch more.
 
In this episode, we critique Krugman's answers and offer our own.
 
Show notes for Ep. 166
Nov 19, 2018

Brazil's economy was booming and everything looked great, and then it suffered a severe slump. What the heck happened? Well, whether or not you're interested in Brazil you'll be interested in Krugman's attempted answers and our replies. (You'll also be shocked to learn that Krugman has quietly changed his position on Brazil, hoping no one would notice. No such luck, Paul.)

Show notes for Ep. 165

Nov 10, 2018

Krugman laments that the Senate disproportionately represents people he obviously dislikes. we use that as a springboard for a lively discussion of the recent midterm elections and what's really going on in American politics.

Show notes for Ep. 164

Nov 5, 2018

The apparent murder of journalist Jamal Khashoggi at the hands of the Saudis was the subject of this Krugman column, which discusses and criticizes the Trump response. Foreign-policy expert Scott Horton joins us for this chilling episode.

Show notes for Ep. 163

Oct 27, 2018

Aboard our third Contra Cruise, we take on some of the hardest questions libertarians have to answer: roads, the poor, defense, and more.

Show notes for Ep. 162

Oct 20, 2018

During and after the financial crisis the Fed increased the monetary base to an unprecedented extent. Everyone hailed it for its wisdom. but that alleged solution is now a major problem hanging over the economy. What if anything can the Fed do now?

Show notes for Ep. 161

Oct 15, 2018

The media is delighted that William Nordhaus shared this year's Nobel Prize in economics. Why, he warns about the damage likely to be caused by climate change, just as we do! Not so fast, alarmists. Not so fast.

Show notes for Ep. 160

Oct 8, 2018

Krugman insists that the Brett Kavanaugh controversy is all about entitled, envious white men terrified of losing their status and privilege. We SLIGHTLY disagree. SLIGHTLY.

Show notes for Ep. 159

Sep 29, 2018

Bob and Tom discuss the work of Bob's favorite economist, Eugen von Böhm-Bawerk. Böhm-Bawerk refuted many an economic fallacy in his day, including Marxism itself. We discuss the arguments he made as well as how he made them.

Show notes for Ep. 158

Sep 22, 2018

Krugman surprises us by writing about economics. He tells us that in the wake of the financial crisis, the public and even other economists have drawn the wrong lessons. Contrary to what you've heard, says Krugman, the Keynesian macro model did great during the crisis, while microeconomics is overrated. Well yes, we agree that Krugman's model did great...if we overlook all the times it blew up in his face.

Show notes for Ep. 157

Sep 14, 2018

This week's column, which makes hysterical claims about Supreme Court nominee Brett Kavanaugh, is a combination of baseless assertion and historical ignorance. Joining us for this week's dismantling is special guest and James Madison biographer Kevin Gutzman, professor of history at Western Connecticut State University.

Show notes for Ep. 156

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