Krugman argues that the GOP tax plan, even on its own terms, would blow up the trade deficit and lead to millions of lost manufacturing jobs. We teach the economics behind his argument, but also mention--get ready for this--that Krugman leaves out two big factors that completely undercut his case.
Krugman says Republicans are expecting too much from the corporate income tax rate cut they're proposing. Is he right?
This week, Krugman disputes the claim that reductions in corporate tax rates help anyone but the super-rich. So we explain to him how they work.
Krugman is a fan of Richard Thaler, winner of the Nobel Prize in economics, and speaks in favor of Thaler's argument that real people often don't act like the calculating robots of neoclassical lore. Thaler is right about that, but we've got a bunch of punchy responses to his more dubious claims -- responses that are all the more fun to listen to because delivered before a live audience aboard the Contra Cruise!
Krugman complains that what we know so far about a potential Trump tax reform plan is not good -- it would give most relief to millionaires and billionaires. We discuss Rand Paul's opposition to the plan, and what genuine tax reform should really do.
The Graham-Cassidy bill is yet another version of Obamacare repeal -- but is that what it does? We cover the ongoing debate, with plenty of the usual fun.
Krugman observes the anniversary of the attacks of September 11, 2001, with a column about the unique wickedness of the Republicans, and no acknowledgment of the bipartisan War Party. Scott Horton joins us for some real history from those terrible days.
Bob flies solo in this episode, as Tom & Family evacuate for the hurricane. Krugman makes some good observations about the economics of immigration, but (as usual) he misrepresents his opponents (while accusing them of being liars). Bob offers his own views on how libertarians might better approach this controversial subject.
Krugman blames the destructiveness of the hurricane partly on climate change and partly on Houston's lack of zoning. We take these on, and also defend the "price gouger," who genuinely saves lives.
Even if Republicans don't get their way on taxes or spending, don't be fooled, says Krugman: they have lots of other ways to make workers miserable.
Ron Paul joins us as our special guest on episode 100! We cover health care, the Trump foreign policy, trade, the splintering of the “liberty movement,” and more. Enjoy!
Krugman claims the downturn of 2008 was caused by inadequate "demand." The Austrians claim the downturn was more complicated: it involved problems in particular sectors that had been artificially expanded, not a system-wide problem of not enough spending.
Thankfully, we can resolve this dispute swiftly enough -- and we do, in this episode.
Republicans are incorrigibly wrong on issue after issue, from taxes to health care, says Krugman. They have no respect for experts, for data, or for the truth itself.
And yet it turns out that the guy who's wrong is...(you'll never guess).
How do central banks hurt the common man? That's the theme of our discussion in this episode, recorded live at the Mises Institute's annual week-long instructional program for students. Professor Jeffrey Herbener of Grove City College and Ph.D. candidate Louis Rouanet join us.
On his blog, Krugman responds to fellow columnist Bret Stephens, who argues that the conservative movement has fallen a long way since the days of William F. Buckley. Krugman responds that the conservative movement was never any good, and never had any kind of golden age.
Believe it or not, we get more worked up in this episode than probably any episode thus far. You won't want to skip this one.
Krugman reviews economic ideas that he says no longer apply today. Is there anything wrong with his thinking?
Is a trade war in the offing? There's plenty of protectionist talk coming from the White House. Will it "save jobs"?
The official study commissioned by the city of Seattle is painting a grim picture of the consequences of the minimum wage increase in that city thus far.
Well well well, in a splash of serendipity, the one week Tom leaves the show in Bob's hands, Krugman devotes his column to zombies--and vampires. Specifically, the GOP idea that tax cuts on the rich are great for the economy is an idea that just won't die. And the Republican plan for health insurance reform must be kept hidden from the sunlight. (Just like a vampire, get it?)
Bob brings on Cato Senior Fellow Dan Mitchell to talk about the alleged supply-side failure in Kansas.
Krugman wrote two columns in a row on Donald Trump's withdrawal from the Paris Accord and the abdication of American leadership on climate change, and we reply to them both in this episode.
Our thanks to Marcus Brown for the Contra Cruise jingle! Check out his comedy podcast, Make My Day.