Ep. 38 When Businessmen Are Clueless About the Economy

5 June 2016     |     Tom Woods     |     6

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.

Krugman Column

Trump’s Delusions of Competence” (May 27, 2016)

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Contra Column

Why Wage Cuts Are Good for Aggregate Demand,” by Bryan Caplan

Book Mentioned

Bureaucracy, by Ludwig von Mises

Related Episodes

Ep. 37 Our Most Brutal Takedown Yet: Krugman on the Clinton Economy
Ep. 33 Krugman and Hamilton Sitting in a Tree
Ep. 8 Does the Economy Perform Better Under Democrats?

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