Ep. 48 What's Wrong with the Economy?

The Tom Woods Show

Tom Woods

Politics, Government, News

4.8 • 3.4K Ratings

🗓️ 27 November 2013

⏱️ 28 minutes

🔗️ Recording | iTunes | RSS

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Summary

Is there something fundamentally wrong with the U.S. economy? Bob Murphy explains. Bob is the author of The Politically Incorrect Guide to Capitalism, The Politically Incorrect Guide to the Great Depression and the New Deal, and other books, and he blogs at Free Advice.

Transcript

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0:00.0	I've abandoned free market principles to save the free market system.
0:09.9	In a world of conventional confusion, there will be time for them to make profits.
0:14.9	Now's not that time.
0:16.5	Daddy, what do taxes pay for?
0:18.3	Oh, why everything?
0:19.7	Policemen, trees, sunshine.
0:21.9	And let's not forget the folks who just don't feel like working, God bless them.
0:25.9	Don't be afraid.
0:26.7	I'll be afraid of you, dad.
0:28.3	Prepare to unshackle your mind.
0:31.3	An idea whose time has come cannot be stopped by any army or any government.
0:36.9	Your professor has arrived.
0:41.1	Tom Woods.
0:46.8	Beware, citizen, you are now departing from the world of allowable opinion.
0:52.3	The Tom Woods Show.
0:57.6	Welcome, everybody. It is Wednesday, November 27, 2013, the very cusp of Thanksgiving,
1:03.7	and we are joined today by economist Robert P. Murphy. Bob Murphy is here to talk to us about
1:09.4	some of the statements we've been hearing in
1:12.2	recent weeks by people like Paul Krugman and Larry Summers about the condition of the economy
1:17.8	and the future of the economy. So we're going to talk today about bubbles. We're going to talk about
1:22.3	inflation. We're going to talk about business cycles, negative interest rates, and all this crazy
1:27.1	stuff that we're hearing
	...

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