Ep. 38 When Businessmen Are Clueless About the Economy
This week, Krugman makes one decent point: successful businessmen aren’t necessarily any good on economics. No argument there. Krugman doesn’t quite get why his insight is true, but at least it’s something. Bob and Tom discuss (1) why government can’t be run like a business, (2) why falling wages need not be a catastrophe for “aggregate demand,” (3) whether it makes sense to speak of a “manager” of the economy, and more.
“Trump’s Delusions of Competence” (May 27, 2016)
Get three free issues of the Lara-Murphy Report, Bob Murphy’s financial publication! Click here.
Get a free, 22-lecture, non-government-worshiping course on the U.S. presidents from Tom’s Liberty Classroom at FreeHistoryCourse.com.
“Why Wage Cuts Are Good for Aggregate Demand,” by Bryan Caplan
Bureaucracy, by Ludwig von Mises
The Contra Cruise
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