Ep. 95 Do Economic Laws Have Expiration Dates?

16 July 2017     |     Tom Woods     |     5

Krugman reviews economic ideas that he says no longer apply today. Is there anything wrong with his thinking?

Krugman Post

Formerly True Theories (Wonkish and Self-Indulgent),” July 10, 2017

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  • Lysander Spooner

    Regarding the timing of the industrial revolution in Britain & whether that was linked to cultural attitudes, I’m not so sure. The upper classes in Britain at that time were staggeringly snobbish towards ‘trade’, and did their best to freeze out the ‘nouveau riche’ from ‘polite’ society and political power.

    So it is hard for me to imagine that it was a favourable attitude to entrepreneurs that kick started the massive increase in wealth in Britain.

  • Robert

    Hi Tom and Bob,

    I love the History of Economic Thought course, and I am happy about Part 2 being released. I hate to impose, but it would be nice to create a “download all audio” link.

    Bob Murphy mentioned something in the History 1 course about smart people studying the history of their field out of curiosity, and honestly, that thought hadn’t occurred to me before. I have been reading about the history of biochemistry and protein crystallization, going back to the 1940’s with the amino acid sequence of insulin. Turns out biochemists, in general, are terrible, tedious writers, and don’t have much interest in history, even though all of the major developments occurred less than 100 years ago. I might have to end up writing the History of Biochemistry book to make up for this deficiency.

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

      Thanks. All the courses have a link to download all the audio: in two formats, in fact. Scroll down to the bottom of the list of lectures.

      For this one we’re going to wait until the entire course is up first

    • Greg Strebel

      Robert, you really must look up Isaac Asimov if you think there no good writers in the Biochemistry community.

      • Education Matters

        i loved Asimov’s Robots and Foundation series. They would make excellent movies, even without Will Smith’s distortion. Heck, even the spinoff novels from the Robot series would be terrific. So much of science fiction is owed to Asimov and to Herbert.