Jon Schwarz wrote an article for the Intercept last month that stirred up quite a buzz. In the piece, Schwarz makes the argument that, because it’s hurting creditors and shrinking the real value of debt, inflation should be viewed as good news for most people. Scott brought Schwarz on together with Austrian economist Bob Murphey to have a discussion about Schwarz’s argument and monetary policy more broadly.
Discussed on the show:
- “Inflation Is Good for You” (The Intercept)
- Understanding Money Mechanics by Bob Murphy
- Secrets of the Temple: How the Federal Reserve Runs the Country by William Greider
Jon Schwarz is a writer for The Intercept, and has written for the New Yorker, the New York Times, The Atlantic, the Wall Street Journal, “Saturday Night Live,” and many others. Find him on his blog, A Tiny Revolution, or on Twitter @schwarz.
Bob Murphy is an economist with the Institute for Energy Research, a research fellow with the Independent Institute, and a senior fellow at the Ludwig von Mises Institute. He is the author of The Politically Incorrect Guide to Capitalism and Choice: Cooperation, Enterprise, and Human Action. Find him on Twitter @BobMurphyEcon and listen to his podcast The Bob Murphy Show.
This episode of the Scott Horton Show is sponsored by: The War State and Why The Vietnam War?, by Mike Swanson; Tom Woods’ Liberty Classroom; ExpandDesigns.com/Scott; EasyShip; Free Range Feeder; Thc Hemp Spot; Green Mill Supercritical; Bug-A-Salt; Lorenzotti Coffee and Listen and Think Audio.