Ep. 117 How Bob Smacked Down Krugman on the Financial Crisis

17 December 2017     |     Tom Woods     |     8

Krugman is claiming that everything he said regarding housing and the financial crisis has been vindicated. The problem, he says, was a general collapse in “demand.” Contra Krugman co-host Bob Murphy, on the other hand, has shown in his own writing that in fact the crisis was not caused by a problem with “demand” in general, but with problems in particular sectors, brought about during the inflationary boom.

Krugman Blog Post

Pessimism and Paralysis in the Aftermath of the Financial Crisis” (December 9, 2017)

Contra Columns

Can Austrian Theory Explain Construction Employment?,” by Bob Murphy
What Economic Research Says About Fiscal Austerity and Higher Tax Rates,” by Bob Murphy
Graphs to Accompany Bob’s Commentary During Contra Krugman Episode 117,” by Bob Murphy

Need More Episodes?

Tom and Bob have their own podcasts! Check out the Tom Woods Show and the Lara-Murphy Report.