Ep. 182 Hooray for the Minimum Wage? How Economists Went Off Track
Contra Krugman
Tom Woods
4.7 • 822 Ratings
🗓️ 30 March 2019
⏱️ 39 minutes
🧾️ Download transcript
Summary
In paying his respects to the recently deceased Alan Krueger, author of the widely discussed 1994 Card-Krueger study on the minimum wage, Krugman praises him for changing the way economists think about that subject. According to Krugman/Krueger, the labor market is more complicated than we thought, and increases in the minimum wage appear to have little to no effects on employment. Here's our reply to all this.
Show notes for Ep. 182
Transcript
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| 0:00.0 | Contra Krugman, episode 182. |
| 0:05.7 | Welcome to the podcast that takes apart Paul Krugeman's New York Times column. |
| 0:10.4 | Join us as Tom Woods and Bob Murphy teach economics by uncovering and dissecting the arrows of Krugman. |
| 0:16.3 | Nobel Prize winner, newspaper columnist, and Destroyer of Nations. |
| 0:20.4 | It's time for Contra Krukman. |
| 0:24.4 | Hey, Contra Krugman listeners. If you like Austrian economics and you want to get more |
| 0:29.3 | in-depth analysis and discussion, I'd point you to my podcast, the Bob Murphy Show. It's not a substitute |
| 0:36.3 | for contra Kruberman. It's in addition to. |
| 0:38.6 | You get more, not an alternative. |
| 0:41.2 | Go to Bob Murphy Show.com. |
| 0:43.7 | A recent interview with Peter Klein is going to be right up your alley. |
| 0:47.2 | Hey, everybody, Tom and Bob here with another episode of Contra Krugman. |
| 0:50.4 | We are looking at a column March 19, 2019, mourning the loss of Alan Kruger. |
| 0:58.6 | Is that how we say his name? How else could you say it? |
| 1:01.7 | I think that's how I say it. |
| 1:03.3 | Yeah. Okay. This is a column about Alan Kruger, who had been a professor. |
| 1:08.8 | I know for sure. It's not Krugman. That's wrong. |
| 1:11.1 | Yeah, that we know. |
| 1:13.2 | He'd been a professor at Princeton. |
| 1:15.4 | And did he have any kind of advisory role in any White House, Bob? |
| 1:20.2 | I don't know about his background. |
| 1:22.3 | I had assumed you as the summarizer would take care of that sort of housekeeping detail. |
... |
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