We have 9+ examples of govts cutting spending in crises & not hitting recession. Canada (1995-97) didn't just avoid it—it outdid all the G7 in GDP, unemployment, deficits, inflation over the next decade. Krugman calls them exceptions which were due to low interest rates and/or net export booms, but as it turns out those two so-called "exceptions" actually came from slashing spending! Bob also covers why Hoover’s 1932 tax hike (not cutting spending) tanked the economy. Finally he goes through different scenarios to see if all these still hold, from today's floating exchange rate's system up until a 100% reserve #Bitcoin standard. https://www.bobmurphyshow.com/episodes/ep-280-the-theory-and-history-needed-to-refute-keynesianism-and-mmt/ #grownostr #libertarianism #fiat #history