Krugman evaluates the claims of market monetarists, who blame the Fed for the crisis because its policy was allegedly too timid. Krugman doesn’t agree (and on that he’s correct!), and he also finds it weird that “free-market” economists would say the Fed “caused” the crisis by not intervening. Isn’t not intervening what free-market economists are supposed to favor?

Krugman Blog Post

“The Anti-Fed Two-Step” (January 29, 2016)

Books Mentioned

America’s Great Depression, by Murray N. Rothbard
Meltdown, by Tom Woods
The Politically Incorrect Guide to the Great Depression and the New Deal, by Bob Murphy
The Austrian Theory of the Trade Cycle and Other Essays, ed. Richard Ebeling

Video Mentioned

The video above is a selection from the full video below:

Murphy Column

“Did “Tight” Fed Policy Cause the Financial Crisis?,” by Bob Murphy

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