Bob Murphy Debates Modern Monetary Theory And Explains The Petro Dollar | Hn 215

On this crossover with Bob Murphy, Adam Haman asks the great economist all about the "petrodollar" and how foreign usage/holding of dollars affects domestic US price inflation. Also, Adam asks Bob some questions about a recent ZeroHedge debate he had with Professor Randall Wray about economics.00:00 — Intro. Adam makes an apology.01:27 — What is the "petrodollar" and what happens if it stops being a thing?19:18 — Bob's overview of his ZeroHedge debate with Randall Wray.20:57 — Clip 1: what "school" of economics does Wray work in?29:04 — Clip 2: Why can't mainstream economists see why their methodology is wrong?37:02 — Clip 3: Was the magnitude of the Fed's intervention in 2008 $29 trillion?40:43 — Clip 4: What's the difference between fiscal policy and monetary policy when the government responds to financial crises? 48:05 — Clip 5: What's the deal with "transitory inflation"? How should we think about inflation?58:12 — Clip 6: Heck, The government doesn't even need tax revenue to be able to spend money!1:10:25 — Outro and final thoughts. Thanks for watching Haman Nature! ZeroHedge debate mentioned:Bob's review of Stephanie Kelton's book: https://mises.org/quarterly-journal-austrian-economics/deficit-myth-modern-monetary-theory-and-birth-peoples-economySponsor mentioned: https://ScottHortonAcademy.com/crossoverHaman Nature Merch Store: https://shop.hamannature.comAdam on X: https://x.com/Rerazer Bob on X: https://x.com/BobMurphyEcon The Bob Murphy Show: https://www.bobmurphyshow.com/Adam's other show: https://naturalorderpodcast.com This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit hamannature.substack.com/subscribe