Not only are Modern Monetary Theory (MMT) cultists dishonest about the role of money, they also are dishonest about money‘s history. By taking issue with Carl Menger‘s historical version, they expose their own ignorance of how money came about.
Why do mainstream economists suddenly think clearly when it comes to tariffs—but abandon logic elsewhere? Mark Thornton unpacks why even Krugman and Marx agree with Austrians on free trade.
As Trump challenges Powell and the Fed’s authority, Dr. Joe Salerno joins Bob to dive into whether "central bank independence" really protects the economy—or just shields elite power.
Despite its many logical flaws, Marxism remains popular in many academic and political circles. However, Marx‘s Labor Theory of Value still undergirds the entire Marxian structure, and debunking it destroys his entire system.
“It is ideas that group men into fighting factions, that press the weapons into their hands, and that determine against whom and for whom the weapons shall be used.”
The Modern Monetary Theory (MMT) crowd prides itself on fidelity to actual history. But Murphy shows how leading MMT guru Randall Wray completely distorts his discussion of two historical episodes in his college lecture.
Bob challenges the conventional wisdom around Triffin’s dilemma, arguing that persistent U.S. trade deficits aren’t necessary for dollar dominance—and that Ron Paul had it right all along.
In The General Theory, J.M. Keynes allegedly “discredited” Say‘s Law. Of course, Keynes actually debunked a straw man that was a caricature of what Say actually wrote. It‘s time to set the record straight.
Jonathan Newman joins Bob to explore the archaeological evidence for silver as money in ancient Mesopotamia, challenging Modern Monetary Theory and affirming Menger’s classic account of money’s market origins.
Patrick Newman joins Bob to discuss Simon Kuznets’ role in developing GNP and GDP metrics and Kuznets’ concerns over how government spending is accounted for in economic statistics.
