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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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Now displaying: March, 2018
Mar 31, 2018

Krugman insists on the validity of the Phillips Curve, which purports to show an inverse relationship between unemployment and inflation, but the causal mechanism Krugman sees between them is straight out of Keynesian la-la land.

Show notes for Ep. 132

Mar 23, 2018
Krugman says Trump is surrounded by people who are wrong on trade: first, the neo-mercantilists, who view trade as a zero-sum game of winners and losers, and second, "neo-goldbugs," who favor a strong dollar and won't concede the merits of a weak currency.
 
Krugman isn't wrong about the neo-mercantilists, but he's wrong about plenty else....
 
Show notes for Ep. 131
Mar 19, 2018

Today we branch out a bit and take on one of Robert Reich's popular (but obviously simplistic) videos about what's gone wrong with the economy. Why, we once had strong labor unions, education, and health care, and then big money corrupted politics and we don't have any of these things, and that's where our problems come from. We're further told that the financial crisis was caused by banks "gambling," and by fraud. (He never asks why the banks should suddenly have started gambling at a particular moment, as opposed to 50 years ago; there certainly was no "deregulation" that artificially encouraged "gambling," contrary to popular belief.)

Show notes for Ep. 130

Mar 14, 2018

Trump's tariffs are bad economics, so Krugman isn't entirely wrong, but his cheerleading for some of the well-known trade agreements needs the gentle correction we're known for on this show....

Show notes for Ep. 129

Mar 5, 2018
Modern Monetary Theory (MMT) is gaining traction. Its adherents think it's just common sense, but it's actually destructive nonsense. Why, governments can never "run out of money," because they have a printing press! OK, it's a little more sophisticated than that, but not nearly as much as they think it is.
 
More inanities smashed courtesy of Contra Krugman.
 
Show notes for Ep. 128
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