According to new data released Wednesday by the Bureau of Labor Statistics, price inflation in December rose again to a new multidecade high, rising to the highest level recorded in nearly forty years. According to the Consumer Price Index for December, year-over-year...
With the recent rise in inflation—with subsequent increases in both consumer and producer price levels—one suspects that sooner or later people on the left either would downplay it or find a way to spin the bad news into something positive like an alchemist would want...
Fed chairman Jerome Powell is increasingly under fire for his apparently inability to take inflation seriously or admit it may be more than “transitory.” There’s been much talk of tapering the Fed’s enormous asset purchases, yet—as is typical for the Fed, actual...
Many intellectuals and philosophers have suggested that society would be better ruled if political power was concentrated citizens according to their knowledge. For instance, Plato proposed a system of governance, called Noocracy, where decision making is in the hands...
In the wake of February’s tragic power outages in Texas, during which 4.5 million households suffered service interruptions, partisans on both sides have been quick to interpret the events as confirmation of their preferred energy policies. With news images of...
Scott talks to Bob Murphy about the economic side of all the covid policies this past year. Most obvious are the huge spending bills, which dwarf even the stimulus measures taken after the 2008 recession. Murphy reminds us that this kind of rampant spending really...
The federal government’s program of supplemental unemployment benefits of up to $600 per week, as provided for in the CARES Act, is set to expire at the end of July. Whether or not to extend this program is setting up to become a contentious political battle mere...
56 Minutes Safe for Work In a flashback episode, Pete welcomes his favorite economist to the show, Dr Robert P Murphy. Pete throws a whole bunch of economic fallacies Dr Murphy's way, and Bob deftly takes them apart so that the listener can know how to answer when...
The economic fallout of the government’s shutdown in response to the coronavirus pandemic has been unprecedented. Nearly ten million people have filed for unemployment benefits in just two weeks. The 6.6 million claims from the last week of March doubled the previous...
Scott has Bob Murphy on the show to explain the Austrian School's view of the boom and bust cycle in the American economy. Murphy explains why the Keynesians are wrong to assert that booms and busts are simply an inherent feature of capitalism. In fact, it is...
Economist Robert P. Murphy and I discuss Krugman's take on leftism, the morality of the state, welfare, economic cycles, inequality, the great depression and much more! In short, Krugman fails to explain why the state has a moral right to do things (initiate violence...
So more big Fed cash floods into the market? Back during QE2 you had partisan hack Krugman rationalizing it all (though QE had little to do with his Keynesian philosophy). Guys like Bob Murphy were saying, "Yep, this is it, get ready for the inflation." And then it...
Bob Murphy joins the show to discuss his work on the economics of climate change. He explains that even according to the science cited by the UN and the Obama administration, the economic costs of the proposed plans to slow down global warming would be wildly more...
Wise alecks on social media noted with amusement how Beto O’Rourke recently claimed humans had only ten years to act on climate change, thus one-upping Alexandria Ocasio-Cortez who had previously gone out on a limb by putting the deadline at twelve years. Snark aside,...
[playlist artists="false" images="false"...
