In one of the most heated episodes ever, Bob and Tom take apart Krugman's apologies for not fully appreciating the extent of his "white privilege," and for the things he says he once appreciated about America that are now disappearing: toleration (no, he's not criticizing people who shout down speakers), environmental protection, respect for truth and evidence, respect for intellectuals, etc. It's brutal.

Show notes for Ep. 115

No Krugman column this week for us; instead we step back and look at the big picture: what exactly do Keynesians get wrong in their understanding of the economy?

Show notes for Ep. 114

Krugman argues that the GOP tax plan, even on its own terms, would blow up the trade deficit and lead to millions of lost manufacturing jobs. We teach the economics behind his argument, but also mention--get ready for this--that Krugman leaves out two big factors that completely undercut his case.

Show notes for Ep. 113

Krugman says Republicans are expecting too much from the corporate income tax rate cut they're proposing. Is he right?

Show notes for Ep. 112

This week, Krugman disputes the claim that reductions in corporate tax rates help anyone but the super-rich. So we explain to him how they work.

Show notes for Ep. 111

Krugman thinks everyone who disagrees with him on monetary policy has been decisively refuted and ought to be ridiculed or ignored. The Fed has done great work, he says. He also insists that unlike him, we refuse to admit our mistakes.   That's a lot of fodder for one episode. Enjoy!   Show notes for Ep. 110

Krugman is a fan of Richard Thaler, winner of the Nobel Prize in economics, and speaks in favor of Thaler's argument that real people often don't act like the calculating robots of neoclassical lore. Thaler is right about that, but we've got a bunch of punchy responses to his more dubious claims -- responses that are all the more fun to listen to because delivered before a live audience aboard the Contra Cruise!

Show notes for Ep. 109

Krugman is concerned that Trump will appoint a hands-off Fed chairman who hasn't learned the lessons of history.   We challenge the hidden premise in there.   Show notes for Ep. 108

Krugman complains that what we know so far about a potential Trump tax reform plan is not good -- it would give most relief to millionaires and billionaires. We discuss Rand Paul's opposition to the plan, and what genuine tax reform should really do.

Show notes for Ep. 107

Krugman says: who cares if high marginal income tax rates make people work less, or lower rates would give them an incentive to make them work more? It's all a wash, says Krugman: if they work more they also earn more, so they get all the gains and society gets nothing.   This is smashed like nothing we've smashed before.   Show notes for Ep. 106