Introduction to Economics: Part 7 - a podcast by Murray N. Rothbard

Deficits are equal to expenditures minus taxes. Reagan spoke of cutting government spending, but meant only cutting the rate of growth of government spending. Stagflation appeared in 1957-58. Inflation during a recession was not supposed to happen. It happened again in 1973-75. 

Part seven of seven from Introduction to Economics: A Private Seminar with Murray N. Rothbard.

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