Bob Murphy on Krugman, QE3, the Liquidity Trap, and More

Tom Woods

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I talked to Bob last week while hosting the Peter Schiff Show.

zbyszanna

As for the plan, I’ve been recently thinking about the so called Lost Decade in Japan and what struck me was that they (central planners) managed to stifle all growth for the full 20 years. I am sure you’ve read 1984 by Orwell. One of the conditions of total control of the population was preventing the economy from making any growth whatsoever and perpetuating of a crisis and creating a feeling of constant danger. Don’t you think that this so called Lost Decade may look to some as the same thing that Orwell wrote about (he needed to waste production on war effort, but we are much more resourceful nowadays)?
As for the audition, it was definitely too short and Mr Murphy didn’t get even remotely enough time to explain his position. It is a shame really.
http://www.facebook.com/people/Zebram-Zee/100002539017006 Zebram Zee

I don’t know anything about that, but something else interesting. One of my professors is from Japan, and he said that the government schooling there is taking the country down. In Japan, you take a test to see which school you are going to go to, both high school and university. the top companies recruit from the top university (i forgot its name), including honda and toyota. But the people at the top schools are not necessarily the most creative, they have just memorized enough information to pass the tests and get the highest grades. He said that honda and toyota are declining because of this. He said the real creative thinkers in Japan are those who dropped out of school and are working in the video game industry.
Michael Mills

Hey Tom, you’re a delightfully bookish sort… Any book to the tune of “How to turn a socialist backwater into a thriving free market in 10 easy steps”?

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