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The Tom Woods Show

Ep. 1737 Bob Murphy on How Money Works, and Against MMT

The Tom Woods Show

Tom Woods

Politics, Economics, Libertarian, Government, News

4.83.3K Ratings

🗓️ 19 September 2020

⏱️ 34 minutes

🧾️ Download transcript

Summary

The great economist Bob Murphy joins me to overturn misconceptions about money, including the particular misunderstanding popular among Bernie Sanders supporters.

Transcript

Click on a timestamp to play from that location

0:00.0

The Tom Wood Show, episode 1737, prepared a set fire to the index card of allowable opinion.

0:08.0

Your daily dose of liberty education starts here. The Tom Wood Show.

0:14.4

Hi everybody, Tom Woods here talking about Bob Murphy. So great to talk to Bob Murphy. Bob and

0:19.6

I used to have our own podcast together. We did that for about five years and then we thought

0:24.8

I'm sick and tired of talking to you. And that's not really the case. Bob had his own show all of a

0:28.9

sudden the Bob Murphy show and then he was doing three podcasts and something had to give. So

0:34.5

we're doing our own shows now, but we have each other on. Well, I think he's had me on once.

0:41.2

I've had him on about 117 times, but all the same. Bob is back on the show. We remember all

0:48.1

Bob's credentials, PhD in economics from New York University written a million books,

0:53.3

including his widely acclaimed book, Choice, Cooperation, Enterprise, and Human Action,

1:00.3

which is kind of a distillation of the ideas in Ludwig van Mee's book, Human Action,

1:05.7

but it really is a wonderful, smaller treatise in its own right. And when I say widely acclaimed,

1:11.8

you should look at the pages and pages and pages of blurbs for this book. It's amazing. I mean,

1:18.4

it's people who can't stand each other all agree that Bob's book is fantastic. I've never seen

1:23.6

anything like it. It's absolutely great. So Bob's got all these tremendous credentials. And among

1:29.2

many other things, he's the host of the Bob Murphy show, which you can check out at bobmerfyshow.com.

1:34.5

Bob, welcome back. Thanks for having me, Tom. It's been a long time, especially with no

1:39.5

contract recruitment anymore. It has. I was going to say to you, I noticed in my life, I'm sure

1:43.9

you have as well that I don't miss the fact that I don't read Truman's column every week. I don't

1:49.2

miss that, but I do miss our frantic efforts to throw something together at the last minute. That

1:54.4

was always fun. Anyway, let's talk about your understanding money mechanics series for the Mee's

2:00.0

Institute, where people are basically watching you write a book in real time. And why was it a

...

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