
Ep. 280 The Theory and History Needed to Refute Keynesianism and MMT
Bob Murphy Show
00:00
The Importance of Cutting Spending
Sally Kohn: A recent empirical case for fiscal austerity came from the June bulletin of the European Central Bank. The ECB report stressed that what governments need to do, at least if we're going to have history as a guide, is cut spending rather than raise taxes. She says Keynesians don't normally say, oh, yes, that probably would work. It's just that if all the governments around the world try to do that, then it wouldn't work they did simultaneously when unemployment was already 10%.Kohn: If you go to bibomorphyshow.com slash contribute, you'll see some interesting offers there and you know what to do.
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