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Robert P. Murphy



Articles by Robert P. Murphy

Lindsay Goldwert on Stand-up Comedy

3 days ago

Bob Murphy interviews Lindsay Goldwert on her years performing at and organizing stand-up comedy shows in NYC, the interaction between comedy and finance, and her new book, BOW DOWN. For more information, see BobMurphyShow.com. The Bob Murphy Show is also available on iTunes, Stitcher, Spotify, and via RSS.

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The History and Structure of the Federal Reserve System

10 days ago

[This article is part of the Understanding Money Mechanics series, by Robert P. Murphy. The series will be published as a book in late 2020.] This chapter will provide a brief sketch of the historical context in which the Federal Reserve was founded, summarize some of the major changes to the Fed’s institutional structure and …

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The History and Structure of the Federal Reserve System

10 days ago

[This article is part of the Understanding Money Mechanics series, by Robert P. Murphy. The series will be published as a book in late 2020.] This chapter will provide a brief sketch of the historical context in which the Federal Reserve was founded, summarize some of the major changes to the Fed’s institutional structure and …

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FBI Spying and the Gaslighting of America

14 days ago

Bob Murphy uses the media coverage of the December Inspector General (IG) report on the FBI to illustrate how the establishment is gaslighting America. Specifically, some of the FBI’s tactics when applying for permission to spy on the Trump campaign are jaw-dropping, and yet the corporate media have used the report to refute Trump’s “conspiracy …

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Why Trump’s Ukraine Call Was Small Potatoes

23 days ago

Bob goes through much more scandalous and corrupt activities from Presidents Clinton, Bush, and Obama, and why Hillary Clinton has a much worse record on self-dealing than Donald Trump. For more information, see BobMurphyShow.com. The Bob Murphy Show is also available on iTunes, Stitcher, Spotify, and via RSS.

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“Rules of Origin” Show Why Trade Agreements Aren’t Free Trade

24 days ago

Ludwig von Mises famously argued that people must choose between outright socialism and unfettered capitalism, because there is no coherent “middle ground” between the two. The allegedly reasonable compromise of a highly interventionist state — where the authorities retain nominal private property but issue edicts regulating how legal owners may use their property — is …

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A College Student Interviews Bob About How Libertarians View the World

December 7, 2019

Greta, a college student in New York, is working on an honor’s thesis covering libertarian thought in America. In this short interview, she asks Bob what libertarianism is, his perspective on voting, and how he views the American political system. For more information, see BobMurphyShow.com. The Bob Murphy Show is also available on iTunes, Stitcher, …

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Tactical Lessons for Libertarians

November 22, 2019

Bob Murphy evaluates four different campaigns where people pushed-back against the State: The National Opt Out Day in 2010, Free Keene’s “Robin Hood” parking meter approach, the “Taxation Is Theft” approach to tipping, and the “Epstein Didn’t Kill Himself” meme campaign. He then crystallizes his remarks into 7 Lessons for Libertarians. For more information, see …

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Justin Clark Explains the Baltic Strategy for Restoring the Republic of Texas

November 13, 2019

Justin Clark explains the intriguing strategy of a committed group of Texans to restore the sovereignty of their Republic: Like the Baltic states did with respect to the Soviet Union, argue to the UN that Texas has been occupied by a foreign power. For more information, see BobMurphyShow.com. The Bob Murphy Show is also available …

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Does Milton Friedman’s “Plucking Model” Refute Austrian Business Cycle Theory?

November 6, 2019

Noah Smith has a new Bloomberg column titled, “Milton Friedman Got Another Big Idea Right.” Specifically, Smith points to a new paper that apparently confirms Friedman’s famous “plucking model” of recessions. Here’s how Smith contrasts Friedman’s theory from others, including the Misesian theory of boom-bust: Some [business cycle] theories hold that booms cause busts, because good times …

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Dan Sanchez on How Jordan Peterson Could Help the Joker

October 29, 2019

Dan Sanchez discusses his provocative article for FEE, in which he explained how Jordan Peterson’s message could help the Joker deal with the genuine suffering in his life without turning to destructive outlets. Although seemingly fanciful, the conversation touches on very weighty matters that are of the utmost relevance in today’s charged political climate. For …

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Mark Thornton on How Government Propped Up Slavery in the American South

October 27, 2019

Economic historian Mark Thornton has published several peer-reviewed articles on the economics of slavery in the American South. In this episode, he and Bob Murphy discuss the various ways in which government intervention propped up slavery and masked its inefficiency. For more information, see BobMurphyShow.com. The Bob Murphy Show is also available on iTunes, Stitcher, …

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The Bogus “Consensus” Argument on Climate Change

October 23, 2019

One of the popular rhetorical moves in the climate change debate is for advocates of aggressive government intervention to claim that “97% of scientists” agree with their position, and so therefore any critics must be unscientific “deniers.” Now these claims have been dubious from the start; people like David Friedman have demonstrated that the “97% …

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Tough Questions for Conservatives

October 9, 2019

Bob Murphy asks a series of tough (but fair, he hopes) questions for conservatives, ranging from tariffs to impeachment to drug prohibition. For more information, see BobMurphyShow.com. The Bob Murphy Show is also available on iTunes, Stitcher, Spotify, and via RSS.

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Nicolas Cachanosky on Improving Austrian Business Cycle Theory

October 7, 2019

Economist Nicolas Cachanosky specializes in the overlap between capital theory in traditional economics and the capitalization of cash flows in finance. He explains the relevance of these concepts to understanding the business cycle. Then, Nicolas and Bob have a friendly disagreement over Mises’ views on fractional reserve banking. The conversation closes with Nicolas’ view on …

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Julie Borowski: Nobody Knows How to Make a Pizza

September 27, 2019

Julie Borowski (LibertyJunkies.com) has a very popular YouTube channel producing funny videos that teach free market economics and libertarian principles. She joins Bob Murphy to discuss her new children’s book, Nobody Knows How to Make a Pizza. For more information, see BobMurphyShow.com. The Bob Murphy Show is also available on iTunes, Stitcher, Spotify, and via …

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Tough Questions for Progressives

September 20, 2019

Bob Murphy asks a series of tough (but fair, he hopes) questions for progressives, ranging from abortion to the minimum wage to climate change. For more information, see BobMurphyShow.com. The Bob Murphy Show is also available on iTunes, Stitcher, Spotify, and via RSS.

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Dissecting Dave Chappelle’s New Netflix Special

September 20, 2019

Bob Murphy analyzes Dave Chappelle’s Netflix special, “Sticks & Stones.” Bob applauds one bit and criticizes another, but overall thinks Chappelle has done his duty as the court jester. For more information, see BobMurphyShow.com. The Bob Murphy Show is also available on iTunes, Stitcher, Spotify, and via RSS.

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Using World War I to Prove the Incompetence of State Militaries

September 12, 2019

Bob Murphy uses some samples from Dan Carlin’s amazing podcast, Hardcore History, to illustrate the flaws with state-provided military services. Bob concludes that minarchists have nothing to fear, and they should embrace the full vision of a voluntary society with no institutional coercion. Mentioned in the episode: Dan Carlin’s Hardcore History series on World War …

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How the Left and the Right Move the Goalposts in Economic Arguments

August 28, 2019

Bob Murphy explains a common rhetorical dodge that he’s encountered from both the progressive Left and the conservative Right. On the issue of slavery and reparations, the Left will argue that modern whites benefited from the institution. When someone like Murphy points out that slavery actually made the average white person poorer, the leftist may …

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Robby Soave: Breaking the Real Story on the Covington Students

August 26, 2019

Robby Soave, a writer at Reason, was the first journalist to shatter the original narrative about the Covington Catholic students caught in the infamous face-off with Native American Nathan Phillips. But Soave has also tried to correct the unfair coverage of Ilhan Omar. For more information, see BobMurphyShow.com. The Bob Murphy Show is also available …

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