praxeologist

We have 9+ examples of govts cutting spending in crises & not hitting recession. Canada (1995-97) didn't just avoid it—it outdid all the G7 in GDP, unemployment, deficits, inflation over the next decade. Krugman calls them exceptions which were due to low interest rates and/or net export booms, but as it turns out those two so-called "exceptions" actually came from slashing spending! Bob also covers why Hoover’s 1932 tax hike (not cutting spending) tanked the economy. Finally he goes through different scenarios to see if all these still hold, from today's floating exchange rate's system up until a 100% reserve #Bitcoin standard.

Bob Murphy Show

Ep. 280 The Theory and History Needed to Refute Keynesianism and MMT

As a sequel to a recent Human Action podcast episode where Bob critiques a Warren Mosler interview, Bob here goes deeper into the analysis of how a...

#grownostr #libertarianism #fiat #history

#Mises explains: "The abolition of slavery and serfdom is to be attributed neither to the teachings of theologians and moralists nor to weakness or generosity on the part of the masters…. Servile labor disappeared because it could not stand the competition of free labor; its unprofitability sealed its doom in the market economy." The logic is simple, a slave-hunting business, can not operate in a free market since they're paying the price of coercion on top of other expenses. The price of war and guarding can only be paid by the #state. and doesn't that make sense now? #grownostr #libertarianism #capitalism