The Nobel Prize Is a Technical Definition of a Recession

Bob first pushes back on Tim Pool's recent commentary on interstate labor mobility, then turns to address whether the US is currently in a recession. He explains the role that inventories play in conventional GDP accounting.

Mentioned in the Episode and Other Links of Interest:

• The YouTube source of the Tim Pool clip.
• Bob's article on GDP inventory adjustments.
• Scott Sumner explains problems with using the data to argue for a recession in early 2022.
• Bob and Ryan Griggs on the "predictive" power of the yield curve, and how to reconcile it with Austrian business cycle theory.
• Bob's study (with Fraser co-authors) on Michigan's economic reforms.
• Help support the Bob Murphy Show.

The audio production for this episode was provided by Podsworth Media.