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Bob Murphy (economist)

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Bob Murphy
Murphy at the 2017 Mises Circle
Born (1976-05-23) May 23, 1976 (age 48)
EducationHillsdale College (BA)
New York University (PhD)
Academic career
FieldFinancial Economics, Trade
InstitutionFree Market Institute of Texas Tech University
(2014–present)
Fraser Institute
(2013–present)
Pacific Research Institute
(2007–present)
Hillsdale College
(2003–2006)
Ludwig Von Mises Institute
(2003–present)
School or
tradition		Austrian School
Doctoral
advisor		Mario J. Rizzo[1]
InfluencesMurray Rothbard, Ludwig von Mises, Eugen Böhm von Bawerk, Hans-Hermann Hoppe, Joseph Salerno, Israel Kirzner, Richard Ebeling
Websiteconsultingbyrpm.com bobmurphyshow.com

Robert Patrick Murphy (born May 23, 1976) is an American economist. Murphy is research assistant professor with the Free Market Institute at Texas Tech University. He has been affiliated with Laffer Associates, the Pacific Research Institute, the Institute for Energy Research (IER), the Independent Institute, the Ludwig von Mises Institute, and the Fraser Institute.

Education

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Murphy received a BA in economics at Hillsdale College in 1998 and a Ph.D. in economics at New York University in 2003.[2]

Career

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Murphy is research assistant professor with the Free Market Institute at Texas Tech University.[3] He has been a visiting assistant professor at Hillsdale College, and a visiting scholar at New York University. He has been affiliated with Laffer Associates, the Pacific Research Institute,[4] the Institute for Energy Research (IER) as the senior economist focusing on climate change,[5] the Independent Institute,[6] the Ludwig von Mises Institute,[7] and the Fraser Institute in Canada.[8]

Murphy has written books such as Choice: Cooperation, Enterprise, and Human Action (Independent Institute, 2015),[9] Primal Prescription with Doug McGuff, MD regarding healthcare in the United States,[10] and Lessons for the Young Economist (Mises Institute 2010).[11] He has written study guides to works of Ludwig von Mises and Murray Rothbard.[5] Murphy authored the 2007 book The Politically Incorrect Guide to Capitalism. Murphy's book, The Politically Incorrect Guide to the Great Depression and the New Deal, published in 2009, blamed the Depression on government policies.[12][non-primary source needed]

Murphy has been criticized by economists Brad DeLong and Paul Krugman for predicting that the quantitative easing practiced by the Federal Reserve in the late 2000s would create high inflation by 2013, which did not materialize by that time.[13][14]

In 2013 Murphy challenged Krugman to a debate and unnamed supporters of Murphy promised to donate $100,000 to a charity if Krugman would debate Murphy on economic policy issues.[15] A promotional website was established for the challenge. In response to a radio show caller, Krugman rejected the proposed debate, saying that the subject “is not something to be settled by public circuses".[16][a][17]

Environmental policy

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Murphy has stated related to climate change that, "Many economists favor some form of government penalty on CO2 emissions because of the threat of climate change. However, the steps in the argument—going from computer simulations to a specific, numerical tax on economic activity today—are riddled with uncertainties".[18][19]

Murphy has additionally been quoted as saying, "Given the large uncertainties at each major step of the case for reliance on a carbon tax, economists should reconsider their current support for such a policy".[18]

Additionally, Murphy has been quoted as stating, "I reject the peak oil theory insofar as it refers to technological limits on human ingenuity".[18]

Religious views

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Murphy is a Christian and has stated in his writings that "my ethical beliefs are informed by my Christian faith, and I am a firm believer in natural law".[20]

Books

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  • Chaos Theory (2002) – Two essays on anarcho-capitalism; one discussing the production of defense services, and the other describing the provision of private criminal and civil justice.
  • The Politically Incorrect Guide to Capitalism (2007) – A volume in The Politically Incorrect Guide series published by Regnery Publishing. ISBN 978-1596985049 OCLC 79860752
  • The Politically Incorrect Guide to the Great Depression and the New Deal (2009). ISBN 978-1596980969 OCLC 315239348
  • Lessons for the Young Economist (2010) – available at Mises.org Library. ISBN 978-1933550886 OCLC 681711737
  • Murphy, Robert P. (2018). Contra Krugman: Smashing the Errors of America's Most Famous Keynesian. Paul, Ron (foreword); Woods, Thomas E. (preface). CreateSpace Independent Publishing Platform. ISBN 978-1722331795.

Notes

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  1. ^ Exchange occurs at the 20:30 mark in the episode.

References

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  1. ^ Clay (April 6, 2010). "Faculty Spotlight Interview: Robert Murphy". Mises Institute. Archived from the original on September 25, 2020. Retrieved August 4, 2020.
  2. ^ "Robert P. Murphy, Author at IER". IER. Archived from the original on August 15, 2020. Retrieved August 4, 2020.
  3. ^ "Robert P. Murphy". Mises Institute. June 20, 2014. Archived from the original on August 8, 2019. Retrieved July 22, 2019.
  4. ^ University, State of Texas and Texas Tech. "Free Market Institute – Our People – Robert Murphy, Ph.D." www.depts.ttu.edu. Archived from the original on September 24, 2016. Retrieved September 23, 2016.
  5. ^ a b Robert P. Murphy profile Archived 2013-08-10 at the Wayback Machine, Institute for Energy Research, accessed December 9, 2013,
  6. ^ Robert P. Murphy profile Archived 2013-12-14 at the Wayback Machine, Independent Institute, accessed December 5, 2013.
  7. ^ Robert P. Murphy profile Archived 2014-09-14 at the Wayback Machine at Ludwig von Mises Institute, accessed December 5, 2013.
  8. ^ "Robert P. Murphy". Archived from the original on September 24, 2016. Retrieved September 23, 2016.
  9. ^ "Free Market Institute - Our People - Robert Murphy, Ph.D. | Free Market Institute | TTU". Archived from the original on September 24, 2016. Retrieved September 24, 2016.
  10. ^ "The Primal Prescription". May 21, 2015. Archived from the original on August 26, 2016. Retrieved September 23, 2016.
  11. ^ "Lessons for the Young Economist". August 6, 2014. Archived from the original on September 24, 2016. Retrieved September 23, 2016.
  12. ^ Raymond J. Keating, "Book review: The Politically Incorrect Guide to the Great Depression and the New Deal Archived 2014-01-13 at the Wayback Machine", The Freeman, December 22, 2010.
  13. ^ Robert P. Murphy, "Killing the Currency" Archived 2013-06-30 at the Wayback Machine, The American Conservative, December 10, 2009.
  14. ^ "Reason". November 30, 2014. Archived from the original on September 6, 2015. Retrieved January 5, 2016.
  15. ^ Carney, John (October 25, 2010). "Will Paul Krugman be Shamed Into Debating an Austrian Economics Wunderkind?". CNBC website. Archived from the original on June 24, 2013. Retrieved April 19, 2013.
  16. ^ Lehrer, Brian (June 4, 2012). "The Brian Lehrer Show: Paul Krugman Weighs In." Archived 2014-02-03 at the Wayback Machine
  17. ^ "Krugmandebate.com". Archived from the original on May 12, 2013. Retrieved April 20, 2013.
  18. ^ a b c Grandia, Kevin. "Robert P. Murphy". DeSmog. Retrieved March 14, 2025.
  19. ^ HHRG-115-IF03-TTF-MurphyR-20170329.pdf
  20. ^ "Murphy, Robert P. "The Possibility of Private Law." Mises.org. 3 August 2005". July 22, 2005. Archived from the original on January 30, 2009. Retrieved September 13, 2014.
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