In this conversation, economist Bob Murphy joins the show to unpack what the 2008 financial crisis actually revealed about modern economics, central banking, and the structure of the global financial system. Rather than treating the crisis as an accident or policy failure, they examine whether instability is a built-in feature of the system itself. They explore how interest rate manipulation distorts markets, why debt-driven growth creates systemic fragility, and how economic models divorced from reality produce repeated boom-bust cycles. From Austrian economics and business cycle theory to moral hazard, inflation, and monetary illusion, this episode challenges the foundations of mainstream economic thinking. This is not partisan critique or hindsight analysis — it’s a structural examination of why modern finance repeatedly fails, who bears the cost, and whether an honest monetary system is even possible under current incentives. Bob Murphy is an economist, author, and senior fe...