The Tom Woods Show Ep. 2581 Contra Krugman Returns! Krugman Retires
Dec 13, 2024
Celebrate the retirement of a famous economist with a mix of humor and nostalgia. Reflect on evolving critiques of economic thought, from inflation debates to social security comparisons. Dive into the clash between austerity and fiscal stimulus, highlighting real-world examples like Canada in the '90s. Discover amusing hypotheticals including alien invasions that illustrate complex theories. Finally, join the farewell tour as the hosts reminisce about their podcast journey and its impact on economics discourse.
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Krugman's Reaction to Contra Krugman
- Paul Krugman, upon learning of the Contra Krugman podcast, found it flattering.
- He appreciated the attention devoted to critiquing his work.
Transitory Inflation
- Krugman consistently labeled inflation as "transitory," dismissing concerns.
- He eventually admitted being wrong but later claimed "Team Transitory" was ultimately correct.
Hoover's Spending
- Krugman misrepresented Herbert Hoover's actions during the Great Depression.
- He claimed Hoover cut spending when, in reality, both spending and the deficit increased.
