Ep. 23 Krugman: You’re Stupid If You Oppose Stimulus

19 February 2016     |     Tom Woods     |     15

We couldn’t pass up this column, called “On Economic Stupidity.” If you want to rein in the Fed or not run deficits during a recession, you’re just stupid. Here’s our reply.

Krugman Column

On Economic Stupidity” (February 12, 2016)

Book Mentioned

Choice: Cooperation, Enterprise, and Human Action, by Bob Murphy

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Articles Mentioned

Bill Woolsey, “Who Owns the Fed?
Paul Krugman, “The Obama Boom
Paul Krugman, “The Political Economy of Interest Rates Revisited

Related Articles

The Follies of the Modern Greenbacker Movement,” by Bob Murphy
Why the Greenbackers Are Wrong,” by Tom Woods

Related Episodes

Ep. 13 Krugman’s Lame Defense of the Obama Economy
Ep. 3 Trump Is Right About Economics, Says Krugman

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  • Austin Butcher

    Industrial engineers view overproduction as one of the largest, if not the largest, sources of waste. This view is so prevalent that there are entire manufacturing systems based around the concept of eliminating it, so called “pull manufacturing”. Somehow I don’t think that Krugs has any experience in manufacturing system design.

  • Lucien

    You two, Tom and Bob, should just make a movie about Paul Krugman.

  • Lucien

    I think Bernie Sanders should be the Fed Chairman. He understands the economy guys. He is like so smart.

  • Joakim Book

    Thanks for a great show guys! Equally enjoyable reading Krugman’s rubbish and listen to you completely tear him apart.

    I was surprised you didn’t respond to his claim about interest rates;
    “And super-low interest rates, which mainly reflect market forces, not policy […]”

    Any particular reason?


  • Luke Sacher

    Well call me STOOPID! 🙂

  • JimD

    Liked the master builder parable – I think you two do well when you do not respond to Krugman’s snark and oversimplification with snark and oversimplification.

    I was wondering how far the builder story can be pushed. Suppose the bricks are there but a home buyer will not sign a contract because interest rates are too high? Somewhat related I thought the problem from 2010 on was that corporate profits recovered (the bricks were there) but businesses opted to sit on them rather then invest.

  • Fred

    What joy this podcast brings to the soul!

  • JD Bertron

    Check all the links. None of them worked for me. I’m not on iTunes/Stitcher.

    • http://www.TomWoods.com Tom Woods

      I’m not sure what you mean. You mean the links on this page? They all seem to work for me.

      • JD Bertron

        Now they work. Sorry for the trouble.

  • Matthew Kloskowski

    Has Trump went on record against gold & silver?

  • Matthew Kloskowski

    I thought Trump was open to gold standard.

  • H.r. Gross

    Is there a link to the video Tom mentioned about redistributing the income of middle class America to the world? He mentioned it but I can’t find it.

  • Kristian

    My elementary school had a Gazebo what does that say about the state of public education! 0_o

  • bogart1

    I am stupid because I dislike being robbed? That’s very nice of Krugman.