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Contra Krugman

Updated 3 days ago

Society & Culture
News
Business News
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Join Bob Murphy and Tom Woods in this weekly libertarian podcast as they teach economics by refuting Paul Krugman's New York Times column. Plus, expect special guests like Ron Paul, David Stockman, and more!

Read more

Join Bob Murphy and Tom Woods in this weekly libertarian podcast as they teach economics by refuting Paul Krugman's New York Times column. Plus, expect special guests like Ron Paul, David Stockman, and more!

iTunes Ratings

691 Ratings
Average Ratings
634
19
5
6
27

Episode 174 BEST SO FAR

By NH Dairy Farmer - Feb 02 2019
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This podcast is a great mix of learning & friendly banter.

New podcast idea

By Robert from ELP - Jan 26 2019
Read more
I think you guys are going have to make a ContraCortez podcast.

iTunes Ratings

691 Ratings
Average Ratings
634
19
5
6
27

Episode 174 BEST SO FAR

By NH Dairy Farmer - Feb 02 2019
Read more
This podcast is a great mix of learning & friendly banter.

New podcast idea

By Robert from ELP - Jan 26 2019
Read more
I think you guys are going have to make a ContraCortez podcast.

Listen to:

Cover image of Contra Krugman

Contra Krugman

Updated 3 days ago

Read more

Join Bob Murphy and Tom Woods in this weekly libertarian podcast as they teach economics by refuting Paul Krugman's New York Times column. Plus, expect special guests like Ron Paul, David Stockman, and more!

Ep. 137 Is Taxation Theft? Not If You're Not Entitled to Your Paycheck in the First Place, Says Philosopher

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Philip Goff argues that libertarians make a variety of unsupported and unsupportable assumptions when they claim that taxation is theft. We defend the libertarian claim against Goff. (What else did you expect us to do?)

Show notes for Ep. 137

May 07 2018

40mins

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Ep. 153 Elizabeth Warren's Accountable Capitalism Act

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Senator Warren has proposed sweeping changes to how corporations would be allowed to operate in the United States -- no longer will they cater to stockholders only, but they will have to take into account the needs of a wide range of "stakeholders" (workers, communities, etc.). Special guests Gene Epstein and Peter Klein join Tom.

Show notes for Ep. 153

Aug 26 2018

41mins

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Ep. 25 Krugman Says: You Racist Republicans Paved Way for Trump

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Bob and Tom use Krugman's column as a springboard from which to try to come to grips with the Trump phenomenon. Krugman does get a bit of it right this week, as it turns out, but whom are you going to look to on this, Krugman or Bob and Tom?

Show notes for Ep. 25

Mar 05 2016

33mins

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Ep. 18 Krugman on China: No Matter What Happens, He's Proven Right!

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This week's column is classic Krugman. No matter what happens, he can claim to have predicted it. Or when a country obviously follows his advice, he finds some loophole on which he can blame the ensuing disaster. In this column Krugman discusses the recent plunge in Chinese stock markets, and what if anything it portends for the rest of the world. Finally, a column about economics, at least!

Show notes for Ep. 18

Jan 15 2016

41mins

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

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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.

Show notes Ep. 23

Feb 19 2016

33mins

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Ep. 22 Fear Balanced Budgets and Sound Money, Warns Krugman

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Krugman accuses Establishment man John Kasich -- of all people -- of supporting hard money. Then he tells us that balancing budgets hurts depressed economies. A tone-deaf understanding of American politics, plus old-fashioned Keynesianism -- that's Krugman, and that's what we discuss today.

Show notes for Ep. 22

Feb 13 2016

34mins

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Ep. 16 George W. Bush Was for Small Government, Says Krugman

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Krugman says the GOP presidential candidates have all embraced the radical, anti-government views of George W. Bush. First, we were speechless. Then, we recorded an episode of Contra Krugman. Lew Rockwell joined us this week.

Show notes for Ep. 16

Jan 02 2016

43mins

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Ep. 27 Is Free Trade Good or Bad?

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Krugman discusses how economists should respond to the growth in sympathy for protectionism. Along the way, his Keynesian assumptions lead him to oddball conclusions. Bob and Tom also spend some time explaining the classical case for free trade and discussing whether that case has been vitiated in light of modern conditions.

Show notes for Ep. 27

Mar 18 2016

50mins

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Ep. 134 Liberals Are Honest, Aren't Bootlickers, and Admit Their Mistakes, Unlike Krugman's Stupid and Evil Enemies

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In this column Krugman suggests that the decline in the moral and scholarly rigor of conservative intellectuals has to do with the intellectual bankruptcy of the Republican Party, which has no interest in science or truth. So to get ahead or even to be heard, intellectuals have to say ridiculous things that the Party wants to hear.   Left-liberals, by contrast, are overwhelmingly committed to the dispassionate examination of evidence, are not sycophantic toward those in power, and readily admit their mistakes.   Sure.   And don't worry: there's real economics in here, too, as we discuss Krugman's claims about the predictive power of Keynesianism and the supposedly poor track record of its opponents.   Show notes for Ep. 134

Apr 12 2018

48mins

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Ep. 3: Trump Is Right About Economics, Says Krugman

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Paul Krugman says Donald Trump is right to question supply-side orthodoxy about taxation of the wealthy. And Krugman says it's a myth that cutting those taxes helps the economy.

Lots of great stuff in today's episode: even Keynesian researchers disagree with Krugman; it's not true that the job creation numbers under Obama are better than in the 1980s; and how Krugman can claim to be right no matter what happens.

Oct 01 2015

26mins

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Ep. 17 The Dramatic Consequences of American Elections, and Yes, We're Being Sarcastic

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Krugman reassures progressives that Barack Obama really has had some accomplishments. Think of how radically different America would be under Mitt Romney! Top marginal tax rates might differ by a few percentage points, and Obamacare might have been slightly modified! Oy vey.

Show notes for Ep. 17

Jan 09 2016

41mins

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Ep. 42 Without Government, Workers Are Doomed

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This week, Krugman is unhappy that Donald Trump has earned a reputation as a defender of workers. How can he be, wonders Krugman, if he doesn't support Obamacare, more privileges for labor unions, higher taxes on the rich, and so on?

Show notes for Ep. 42

Jul 09 2016

31mins

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Ep. 167 How Can a Free Society Handle Terrorism, Climate Change, and Quarantines?

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We take on additional hard questions for libertarians: quarantines (for infectious/incurable diseases), terrorism, Somalia, and climate change.

Show notes for Ep. 167

Dec 12 2018

46mins

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Ep. 149 How to Unwind the Welfare State

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Krugman is on vacation this week, so we take a topic suggestion from someone who's joining us on this year's Contra Cruise: how to unwind the welfare state peacefully as the fiscal crisis becomes impossible to evade.

Show notes for Ep. 149

Jul 30 2018

39mins

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Ep. 152 Krugman Hearts Pelosi for Giving Us Obamacare, Stimulus, Financial Reform

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Krugman calls Nancy Pelosi "by far the greatest speaker of modern times," and says she "surely ranks among the most impressive people ever to hold that position." He credits her with helping push along financial reform, Obamacare, the stimulus, etc. -- and that gives us a chance to smash all those things.

Show notes for Ep. 152

Aug 18 2018

42mins

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Ep. 154 The Economic Freedom of the States Proves Our Point, Not Krugman's

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The Cato Institute recently issued a ranking of economic freedom in the 50 U.S. states. Krugman thinks they're defining freedom too narrowly, for surely workers in New York, where they have many protections, feel freer than workers elsewhere. He further suggests a positive correlation between economic freedom and infant mortality. These and other Krugman claims are ground into sausage.

Show notes for Ep. 154

Sep 01 2018

42mins

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Ep. 28 Income Mobility Really Does Exist, Paul Krugman

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We managed to dig out some economics from yet another standard Krugman attack on the Republican Party. This time it's his skepticism about the existence of very much income mobility in America. We'll say this: if government programs had the record of success in this area that the (hampered) market economy has, Krugman would never let us hear the end of it.

Show notes for Ep. 28

Mar 26 2016

33mins

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Ep. 144 How to Answer Climate Alarmists? Read Their Own Reports

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In this episode, Bob flies solo and fields another Contra Cruiser request. Specifically, he explains the standard Austrian approach to air pollution, and then talks about the risks of catastrophic climate change. Do libertarians just have to hope nothing really bad happens? 

Show notes for Ep. 144

Jun 23 2018

48mins

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Ep. 177 Semi-Sensible Krugman vs. Modern Monetary Theory (MMT)

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Modern Monetary Theory (MMT) is picking up steam (thanks to Alexandria Ocasio-Cortez and Bernie Sanders), to the point that even Krugman is alarmed. Yes, he says, you will have to raise taxes to pay for what progressives want. This is the episode folks have been asking us for. Show notes for Ep. 177

Feb 23 2019

41mins

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Ep. 206 Are You Deranged for Opposing Regulation?

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Krugman says people on the political right get inordinately worked up over minor regulations that have a clear public benefit, and that such people now have a champion in the White House. Could there be a reason other than derangement for why people get upset about various kinds of regulation? Bob and Tom discuss. Show notes for Ep. 206

Sep 21 2019

32mins

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Ep. 211 LIVE FROM VIENNA: Is Europe an Example for the U.S.?

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We recorded this episode before a live audience at -- of all places -- the Austrian central bank in Vienna, where the Austrian Economics Center held a two-day academic conference. We respond to Krugman's key claim: namely, that Eurosclerosis is long over, and that Europe can no longer be cited with any plausibility as evidence that significant social spending and regulation retard employment. Show notes for Ep. 211

Nov 25 2019

42mins

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Ep. 210 Elizabeth Warren's Fiscal Fantasies

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Krugman is impressed by the detail and alleged seriousness of Elizabeth Warren's Medicare for All plan and how it will be paid for. Bob and Tom, by contrast, are not so impressed. Show notes for Ep. 210

Nov 09 2019

32mins

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Ep. 209 Robots Aren't the Problem

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Krugman criticizes Democrats who think automation is behind American job losses. But just when he's sounding sensible, he jumps back into "inadequate spending" being the problem. Show notes for Ep. 209

Oct 27 2019

30mins

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Ep. 208 Debt Is Money We Owe to Ourselves, Idiot!

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We got a lot of requests for an episode on debt after Krugman tweeted that "debt is money we owe to ourselves." What's the real truth? Show notes for Ep. 208

Oct 13 2019

30mins

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Ep. 207 Krugman Embraces Warren, Discards Economics

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Historian and podcast host Brion McClanahan joins Bob to discuss Krugman's defense of Elizabeth Warren against the big bad plutocrats, who apparently are threatening to support Trump if she's the Democratic nominee. Krugman dismisses the possibility that these wealthy people might oppose Warren's wealth tax, and instead suggests that the real reason they hate Warren is that she hurt their feelings. Show notes for Ep. 207

Oct 05 2019

44mins

Play

Ep. 206 Are You Deranged for Opposing Regulation?

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Read more

Krugman says people on the political right get inordinately worked up over minor regulations that have a clear public benefit, and that such people now have a champion in the White House. Could there be a reason other than derangement for why people get upset about various kinds of regulation? Bob and Tom discuss. Show notes for Ep. 206

Sep 21 2019

32mins

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Ep. 205 Is This Evidence of an Authoritarian Regime?

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Krugman argues that an undemocratic, authoritarian regime is being built in the United States, and cites Sharpiegate and Trump's treatment of the auto industry as prime examples. Show notes for Ep. 205

Sep 14 2019

31mins

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Ep. 204 Krugman's Worst Blunders

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We take listener questions in this episode, from Krugman's worst blunders, to how the Fed might return interest rates to their natural level, to a former Fed official's implication that the Federal Reserve ought to make Trump's reelection more difficult. Show notes for Ep. 204

Sep 08 2019

37mins

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Ep. 203 Deeper Economic Analysis of Slavery, Free Trade vs. Welfare, and Debt Repudiation

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Because Krugman is a bore, Tom and Bob field questions from the listeners. They handle objections about their recent arguments concerning the economics of slavery, clear up apparent contradictions in the libertarian handling of free trade and the welfare state, and explain Rothbard's view of debt repudiation. Show notes for Ep. 203

Aug 31 2019

38mins

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Ep. 202 David Stockman on Western Regimes Entering Cuckoo Land

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David Stockman, director of the Office of Management and Budget under Ronald Reagan, joins Tom (Bob is on vacation) to explain what's really happening with the current inverted yield curve, as well as how to tell real growth from phony growth, and a lot more. Show notes for Ep. 202

Aug 23 2019

28mins

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Ep. 201 The White Nationalist Hoax

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The ordinarily serene Bob Murphy is genuinely outraged in this episode, in which we cover Krugman's casual claim that Donald Trump is trying to establish an "authoritarian, white nationalist regime." Needless to say, it does not matter what your opinion of Trump is. This idea is out of some sort of alternate reality that in no way corresponds to the real world, but which in classic Orwellian style is presented as if all reasonable people just know it to be true. Show notes for Ep. 201

Aug 17 2019

37mins

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Ep. 200 Krugman on Bonds & Uncertainty: Interesting, But Still Wrong

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Bob minds the store and explains what is interesting about Krugman's discussion on bonds vs. stocks as ways to forecast recession, how an inverted yield curve signals problems, and the precise way that Trump could be depressing investment. Yet even though these abstract discussions are instructive, Bob argues that they don't really work in the cases where Krugman deploys them. Show Notes for Ep. 200

Aug 10 2019

47mins

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Ep. 199 Krugman: Trump's Tax Cuts Make the 1% -- and Rich Foreigners -- Richer

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Krugman says that since Trump's tax cuts amounted to nothing but a giveaway to wealthy shareholders, and since many of those are foreigners, the tax cuts amounted to a perverse foreign aid program. Show notes for Ep. 199

Aug 03 2019

34mins

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Ep. 198 Should We Prevent the Rich from Living Longer?

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In an "op-ed from the future," Krugman speculates about a world in which "the rich" have access to life-extending technology. Should they be allowed to have it if not everyone can afford it? This episode gets to the heart of the left-liberal worldview. Show notes for Ep. 198

Jul 26 2019

33mins

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Ep. 197 Is Privatization (Including Prisons) Expensive and Evil?

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Krugman suggests that although it makes sense for much of the economy to be in private hands, there are some sectors where private control would yield perverse results. He devotes particular attention to so-called private prisons. So we set him straight. After all, that's why we're here. Show notes for Ep. 197

Jul 21 2019

33mins

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Ep. 196 There Aren't Any Socialists in the Democratic Party?

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There aren't any real socialists running in the Democratic Party, says Krugman, because none of them want to abolish private ownership of the means of production. Republicans level the accusation because they're ignorant idiots. Krugman wonders what would happen if Republicans began to be routinely referred to as fascists (as if isn't happening every day). Show notes for Ep. 196

Jul 10 2019

34mins

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Ep. 195 Trump Demands Lower Interest Rates; Krugman's Head Explodes

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Krugman is horrified at Trump's pressure on the Federal Reserve to lower interest rates. Yet he thinks a case can be made for doing precisely that. What is Krugman to do? Show notes for Ep. 195

Jun 28 2019

35mins

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Ep. 194 Elizabeth Warren Has Some Great Ideas

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Krugman is very impressed by Elizabeth Warren, who he thinks has a whole bunch of very good, detailed policy proposals. This is precisely what the world needs more of, he says: public policy proposals based on the best scholarly literature. He proceeds to misrepresent that literature. We nail him. Show notes for Ep. 194

Jun 22 2019

35mins

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Ep. 193 How Dare Trump Criticize Britain's National Health Service

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Krugman is horrified that Donald Trump has been critical of the National Health Service (NHS) in Britain. Why, the NHS is doing a great job! We put Krugman's arguments under a microscope. Show notes for Ep. 193

Jun 15 2019

37mins

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Ep. 192 Your Deepest Questions About the Fed Answered

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We do another Q&A episode this week, a good portion of which revolves around the Federal Reserve: the best ways to undermine it, how we might transition away from it, whether a reckoning has to come even if the Fed never raises interest rates, and a lot more. Plus: would we rather debate ten duck-sized Krugmans or one Krugman-sized duck? Show notes for Ep. 192

Jun 08 2019

33mins

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