MMT champion Warren Mosler claims that Fed rate hikes lead to larger government interest expenses and hence support economic growth and inflation. Bob presents both theoretical and empirical evidence against Mosler's claims.
Professor Quinn Slobodian believes that free markets must lead to tyrannical worker exploitation, and socialism is the only solution. In truth, market competition is the answer.
The "distributist" theorists Chesterton and Belloc imagined that economic interventionism could make life easier and more free. Yet their proposed system is neither moral nor practical.
Patrick Newman joins Bob to discuss a recent tweet from Stephanie Kelton, which argued that the government's "red ink makes our black ink possible."
One of the standard doctrines of mainstream economics is that the assumptions of a model do not have to reflect reality. Austrian economics vociferously disagrees.
University of Rochester economist Steve Landsburg joins Bob to discuss the abysmal performance of ChatGPT on his undergraduate exam.
Modern mainstream neoclassical economics is constructed on utilitarianism. Murray Rothbard challenged that worldview on many fronts.
Per Bylund joins Bob to discuss his new paper at the QJAE, which points out several flaws in the MMT claim that money is valued in order to pay taxes.
Bob and Brian Albrecht discuss rational expectations, real business cycle theory, and how Alchian cracked the military's top secrets.
Conservative icon William F. Buckley wanted a "totalitarian bureaucracy within our shores" to combat the communist threat. Far too many modern Chinaphobes are embracing a similarly deranged policy.
