Contra Krugman

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

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

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

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

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

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

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

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

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

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

We take a listener question -- early-bird registrants for the Contra Cruise got this as a bonus -- about what would happen if one country went completely stateless, but the rest of the world stayed the same. Lots of potential consequences here, and we do our best to sort them out! Plus the usual fun. Show notes for Ep. 155

The Cato Institute recently issued a ranking of economic freedom in the 50 U.S. states. Krugman thinks they're defining freedom too narrowly, for surely workers in New York, where they have many protections, feel freer than workers elsewhere. He further suggests a positive correlation between economic freedom and infant mortality. These and other Krugman claims are ground into sausage. Show notes for Ep. 154

Senator Warren has proposed sweeping changes to how corporations would be allowed to operate in the United States -- no longer will they cater to stockholders only, but they will have to take into account the needs of a wide range of "stakeholders" (workers, communities, etc.). Special guests Gene Epstein and Peter Klein join Tom. Show notes for Ep. 153

Krugman calls Nancy Pelosi "by far the greatest speaker of modern times," and says she "surely ranks among the most impressive people ever to hold that position." He credits her with helping push along financial reform, Obamacare, the stimulus, etc. -- and that gives us a chance to smash all those things. Show notes for Ep. 152

Krugman advances two main arguments against cryptocurrency. One of them, it turns out, applies equally well to the U.S. dollar, a point Krugman fails to acknowledge. Neither argument carries much sting, and in fact cryptocurrencies can parry Krugman's criticisms without breaking a sweat. Show notes for Ep. 151

There's been plenty of discussion of Supreme Court nominee Brett Kavanaugh, says Krugman, but it's been focused mainly on his views of presidential power, and not on his opinions on business and workers. On this, too, he's atrocious, says Krugman. We say: Krugman is leaving out 95% of the argument. Show notes for Ep. 150

Krugman is on vacation this week, so we take a topic suggestion from someone who's joining us on this year's Contra Cruise: how to unwind the welfare state peacefully as the fiscal crisis becomes impossible to evade. Show notes for Ep. 149

We recorded this episode before a live audience at the Mises Institute's Mises University summer program. What a blast! Show notes for Ep. 148

During the 2016 campaign Krugman was critical of Bernie Sanders, but all of a sudden he can't see anything wrong with "radical Democrats" like Alexandria Ocasio-Cortez. We help him see more clearly. Show notes for Ep. 147

The economy may be doing well, says Krugman, but when you look closer at what Trump touts as his great economic victories, they've been neutral to negative. (Also: winners of the Contra Cruise contest announced!) Show notes for Ep. 146