Ep. 276 Even Milton Friedman Slipped in His Defense of Trade Deficits
Bob Murphy Show
00:00
Crusoe and the Fallacy of Saving and Investing
CNN's John Sutter says the idea that some households are living below their means is a logical fallacy. He argues that if there were 100 Robinson Crusoe-like people on an island, they could all be saving and investing in order to raise their real income over time. "If he can pick 10 coconuts a day...he can go get 30," Sutter writes.
Transcript
Play full episode
