Ep. 128 The Destructive Idiocy of "Modern Monetary Theory"

Contra Krugman

Tom Woods

News, News & Politics, Business News

4.7 • 822 Ratings

🗓️ 5 March 2018

⏱️ 34 minutes

🔗️ Recording | iTunes | RSS

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Summary

Modern Monetary Theory (MMT) is gaining traction. Its adherents think it's just common sense, but it's actually destructive nonsense. Why, governments can never "run out of money," because they have a printing press! OK, it's a little more sophisticated than that, but not nearly as much as they think it is.

More inanities smashed courtesy of Contra Krugman.

Show notes for Ep. 128

Transcript

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0:00.0	Contra Krugman, episode 128.
0:05.2	Welcome to the podcast that takes apart Paul Kruikman's New York Times column.
0:10.0	Join us as Tom Woods and Bob Murphy teach economics by uncovering and dissecting the arrows of Krugman.
0:15.9	Nobel Prize winner, newspaper columnist, and Destroyer of Nations.
0:19.9	It's time for Contra Krugman.
0:24.1	Folks, like many of us, there's a good chance you were probably a victim of educational
0:28.5	malpractice. Well, undo all that over at libertyclassroom.com, where we teach you the history
0:35.1	and economics you didn't get in school.
0:38.7	Hey folks, Bob Murphy here.
0:40.5	You may have heard that over the years I've been working in what's called the Infinite Banking
0:44.4	concept or IBC.
0:46.4	And perhaps you wanted to learn more about it, but you thought, I'm just so busy.
0:49.2	I don't have time for this.
0:50.8	Well, guess what?
0:51.9	Nelson Nash, Carlos, Laura, and myself, we have a new book out called The Case for IBC.
0:57.5	It shows how households and business owners can effectively secede from our current banking system.
1:04.1	Check it out at the case for IBC.com.
1:08.8	Hey, everybody, Tom and Bob here, another episode of Contra Krugman.
1:11.9	It was just the typical Krugman columns this week, so we decided, let's do something fresh.
1:17.1	Let's do something a little bit different, but that is still in the general spirit of Contra Krugman.
1:21.9	Let's cover a topic people are interested in.
1:24.1	So I solicited, I got suggestions from the private group that I have for my show.
	...

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