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Arguing With Zombies by Paul Krugman – Book Summary and Analysis. Bob Murphy and Keith Knight

by | Jun 12, 2020

… Keynes ignored the various stages of production; ignored changes in capital value and neglected the identity between entrepreneurs and capitalists; took replacement of the capital structure for granted; neglected price differentials in the stages of production as the source of interest; and did not realize that, ultimately, the question faced by businessmen is not whether to invest in consumer goods or capital goods, but whether to invest in capital goods that will yield consumer goods at a nearer or later date.


Murray N. Rothbard
America’s Great Depression, p. 37n1

0:00 – Murray Rothbard quote

1:46 – Did deregulation cause the 2008 crisis? 

6:30 – Deregulation Myth Debunked once and for all:

12:34 – Do ‘public goods’ justify a state?

Chaos Theory by Bob Murphy:

19:15 –

20:33 – Why do libertarians ALWAYS say government is the problem and the market is ALWAYS the solution?

24:51 – Libertarian issue with the police force

25:50 – What is ‘the State’ or ‘the Government’? –

27:58 – The 5 Points of Keynesianism – Summary 

Jonathan Gruber: 

51:49 – Do externalities justify the state?

59:00 – Babysitting Co-Op: Krugman’s ultimate real world justification for Keynesianism 

1:08:00 – The Ultimate Zombie – Tax cuts create wealth

The 91% Myth:

1:14:09 – Why not tax at 100%?





Keith Knight

Keith Knight

Keith Knight is Managing Editor at the Libertarian Institute, host of the Don't Tread on Anyone podcast and editor of The Voluntaryist Handbook: A Collection of Essays, Excerpts, and Quotes.

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