Ep. 289 Gene Epstein Takes Bob to the Woodshed Over Dubious Wage Data
Gene Epstein is disappointed in Bob’s kid-glove treatment of Oren Cass’ critique of American capitalism, and explains some of the problems with the data that Oren relied upon to make his case. Mentioned in the Episode and Other Links of Interest: The YouTube version of this interview. Oren Cass’ controversial interview on BMS ep. 283.…
Ep. 280 The Theory and History Needed to Refute Keynesianism and MMT
As a sequel to a recent Human Action podcast episode where Bob critiques a Warren Mosler interview, Bob here goes deeper into the analysis of how an economy can continue growing even if the government eliminates its budget deficit. Bob relies on both theory and history, citing in particular the fiscal turnaround of Canada in…
Ep. 245 Cutting Larry Summers Some Slack on His Labor Market Remarks
Bob provides a qualified defense of Larry Summers’ recent claim that high unemployment will be necessary to contain price inflation. Mentioned in the Episode and Other Links of Interest: The Summers interview featured in the audio clip. The Bloomberg article quoting Summers on how unemployment is necessary to fight inflation. Robert Lucas’ Nobel Prize lecture…
Ep. 243 To Understand (Price) Inflation Then and Now, Follow the Money
Bob seeks to explain why the Fed’s extraordinary monetary inflation following the 2008 financial crisis didn’t result in $5/gallon gasoline, while the Fed’s extraordinary monetary inflation following the 2020 coronavirus panic did. Mentioned in the Episode and Other Links of Interest: Bob’s newspaper op ed laying out his explanation. Bob’s blog post summarizing what happened…
Ep. 217 Murphy Critiques MMT TED Talk
Bob provides a running refutation of Stephanie Kelton’s recent TED talk on Modern Monetary Theory (MMT). Mentioned in the Episode and Other Links of Interest: Stephanie Kelton’s TED Talk. Bob’s review of Kelton’s book explaining MMT. Kelton’s intro to MMT, The Deficit Myth. #Commissions Earned (As an Amazon Associate I earn from qualifying purchases.) Bob’s…