Contra Krugman, episode 177.

Welcome to the podcast that takes apart Paul Kruikman's New York Times column.

Join us as Tom Woods and Bob Murphy teach economics by uncovering and dissecting the arrows of Krookman.

Nobel Prize winner, newspaper columnist, and destroyer of nations.

It's time for Contra Krookman.

Hey, Contra Krugman listeners. Let me give another plug for my new podcast, The Bob Murphy Show.

The recent episode I recorded with David Gernowski in particular is very intriguing.

Whether you're a Christian or not, you want to hear David's view on how the

modern state is a vestigial organ of the propensity for humans to want to sacrifice scapegoats.

And then that has implications for how we should combat it. So go to bobmerfyshow.com slash 15.

Hey, everybody, Tom and Bob here with another episode of Contra Krugman. We've got two

blog posts for you. Are they blog posts? Or are they actually columns?

I think they were blog posts. Okay. All right. So one of them is called what's wrong with

functional finance, parentheses, wonkish. And then the other one is, how much does

heterodoxy help progressives? Also, parentheses, wonkish. And what we're going to be doing in this

episode is talking a little bit about something that no doubt many listeners have encountered already,

and certainly if they're longtime listeners of this show, they have encountered it on this here podcast. And that is something called modern monetary theory that we associate with a fellow

named Warren Mosler, but which, and maybe James Galbraith, but has really spread like wildfire

because sometimes we've said Keynesianism says what politicians want to hear. Well, this goes way beyond that.

This could not be more suited to what politicians want to hear. So we've heard Alexandria Ocasio-Cortez

tip her hat, if she wore one, to modern monetary theory, because it appears to answer the question, how are you progressives going to pay for all that stuff?

That's the issue.

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