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{{short description|American economist}}{{For|other people named Bob Murphy|Robert Murphy (disambiguation){{!}}Robert Murphy}}{{BLP primary sources|date=March 2014}}
{{other people|Robert Murphy}}
{{BLP primary sources|date=March 2014}}
{{Use mdy dates|date=October 2022}}
{{Infobox economist
{{Infobox economist
| name = Robert P. Murphy
| name = Bob Murphy
| school_tradition = [[Austrian School]]
| school_tradition = [[Austrian School]]
| image = Robert Murphy (3x4 cropped).jpg

| image = Robert P. Murphy Head Shot 1.jpg
| caption = Murphy at the 2017 Mises Circle
| caption =
| birth_date = {{birth date and age|1976|05|23}}
| birth_date = {{birth date and age|1976|05|23}}
| birth_place = United States
| birth_place =
| death_date =
| death_date =
| death_place =
| death_place =
| institution = Free Market Institute of Texas Tech University<br><small>(2014–present)</small><br>[[Fraser Institute]]<br><small>(2013–present)</small><br>[[Pacific Research Institute]]<br><small>(2007–present)</small><br>[[Hillsdale College]]<br><small>(2003–2006)</small> <br>[[Ludwig Von Mises Institute]]<br><small>(2003-present)</small>
| institution = Free Market Institute of [[Texas Tech University]]<br /><small>(2014–present)</small><br />[[Fraser Institute]]<br /><small>(2013–present)</small><br />[[Pacific Research Institute]]<br /><small>(2007–present)</small><br />[[Hillsdale College]]<br /><small>(2003–2006)</small> <br />[[Mises Institute|Ludwig Von Mises Institute]]<br /><small>(2003–present)</small>
| field = [[Financial Economics]], [[Trade]]
| field = [[Financial Economics]], [[Trade]]
| website = {{URL|https://consultingbyrpm.com/}} {{URL|https://bobmurphyshow.com/}}
| alma_mater = [[New York University]] <small>([[Doctor of Philosophy|Ph.D.]]) 2003</small><br> [[Hillsdale College]] <small>([[Bachelor of Arts|B.A.]]) 1998</small>
| influences = [[Murray Rothbard]], [[Ludwig von Mises]], [[Eugen Böhm von Bawerk]], [[Hans-Hermann Hoppe]], [[Joseph Salerno (economist)|Joseph Salerno]], [[Israel Kirzner]], [[Richard Ebeling]]
| influences =
| influenced =
| influenced =
| contributions =
| contributions =
| awards =
| awards =
| signature = <!-- file name only -->
| signature = <!-- file name only -->
| repec_prefix =
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| repec_id =
| repec_id =
| doctoral_advisor = [[Mario J. Rizzo]]<ref>{{Cite web |last=Clay |date=2010-04-06 |title=Faculty Spotlight Interview: Robert Murphy |url=https://mises.org/wire/faculty-spotlight-interview-robert-murphy |access-date=2020-08-04 |website=Mises Institute |language=en |archive-date=2020-09-25 |archive-url=https://web.archive.org/web/20200925235826/https://mises.org/wire/faculty-spotlight-interview-robert-murphy |url-status=live}}</ref>
}}
|education=[[Hillsdale College]] ([[Bachelor of Arts|BA]])<br />[[New York University]] ([[Doctor of Philosophy|PhD]])}}


'''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 [[Arthur Laffer|Laffer Associates]], the [[Pacific Research Institute]], the [[Institute for Energy Research]] (IER), the [[Independent Institute]], the [[Mises Institute|Ludwig von Mises Institute]], and the [[Fraser Institute]].
'''Robert Patrick Murphy''' (born 23 May 1976) is an American economist, consultant and author. He is an economist with the [[Institute for Energy Research]] (IER) specializing in climate change<ref name=IERprofile>[http://www.instituteforenergyresearch.org/scholars/robert-p-murphy/ Robert P. Murphy profile], [[Institute for Energy Research]], ''accessed December 9, 2013'',</ref> and a research fellow with the [[Independent Institute]],<ref name=II-profile>[http://www.independent.org/aboutus/person_detail.asp?id=1114 Robert P. Murphy profile], [[Independent Institute]], ''accessed December 5, 2013.''</ref> He was a senior fellow in business and economic studies at the [[Pacific Research Institute]],<ref>http://www.pacificresearch.org/home/contact/scholars/robert-p-murphy-phd/</ref> and he is a senior fellow at the [[Ludwig von Mises Institute]].<ref name="Robert P. Murphy profile">[https://mises.org/daily/author/380 Robert P. Murphy profile] at [[Ludwig von Mises Institute]], ''accessed December 5, 2013.''</ref> In addition to economic subjects, Murphy writes about, and has presented an online video class in, [[anarcho-capitalism]] on the Mises Institute website.<ref>Robert P. Murphy, [https://mises.org/daily/6114/ Learn Anarcho-Capitalism Online], Mises Daily, July 24, 2012.</ref><ref name="But Wouldn't Warlords Take Over">Robert P. Murphy, [https://mises.org/daily/1855 But Wouldn't Warlords Take Over?], Mises Daily, July 7, 2005.</ref>


⚫
==Education==
Murphy is also noteworthy, and has been criticized by economists [[Brad DeLong]] and [[Paul Krugman]] for, repeatedly predicting that the [[quantitative easing]] practiced by the [[Federal Reserve]] in the late 2000s would create double-digit inflation and economic collapse—predictions that did not come to fruition.<ref name="Reason">[https://reason.com/archives/2014/11/30/whatever-happened-to-inflation/singlepage Reason]</ref> Murphy is a Christian, and has written articles expressing support for a literal interpretation of the Bible and skepticism of evolutionary theory.
Murphy received a BA in economics at [[Hillsdale College]] in 1998 and a Ph.D. in economics at [[New York University]] in 2003.<ref>{{Cite web |title=Robert P. Murphy, Author at IER |url=https://www.instituteforenergyresearch.org/about/robert-murphy/ |access-date=2020-08-04 |website=IER |language=en-US |archive-date=2020-08-15 |archive-url=https://web.archive.org/web/20200815002459/https://www.instituteforenergyresearch.org/about/robert-murphy/ |url-status=live}}</ref>


==Career==
⚫
==Education and affiliations==
Murphy received a BA in economics at [[Hillsdale College]] in 1998 and a Ph.D. in economics at [[New York University]] in 2003.<ref name="IERprofile"/> As explained by the Free Market Institute (FMI) website, "In his role as a research assistant professor with the FMI, Dr. Murphy contributes original research to the Institute's ongoing research program, ''Research on the Origins of Economic Freedom and Prosperity'', and works closely with FMI graduate research assistants on their efforts to develop original research.".<ref name=":1">https://www.depts.ttu.edu/freemarketinstitute/people/murphy.php</ref> Before to his employment at Texas Tech University, he was a visiting Assistant Professor at Hillsdale College, a visiting scholar at New York University, a Research Analyst at Laffer Associates, and a senior Fellow with the Pacific Research Institute.<ref>{{Cite web|url=https://www.depts.ttu.edu/freemarketinstitute/people/murphy.php|title=Free Market Institute - Our People - Robert Murphy, Ph.D. {{!}} Free Market Institute {{!}} TTU|last=University|first=State of Texas and Texas Tech|website=www.depts.ttu.edu|access-date=2016-09-23}}</ref> He is a Senior Economist with the [[Institute for Energy Research]] (IER) specializing in climate change<ref name="IERprofile" /> and a research fellow with the [[Independent Institute]],<ref name="II-profile"/> He is an associated scholar at the [[Ludwig von Mises Institute]],<ref name="Robert P. Murphy profile"/> and a Senior Fellow with the [[Fraser Institute]] in Canada<ref name=":3">{{Cite web|url=https://www.fraserinstitute.org/content/dr-robert-p-murphy|title=Robert P. Murphy|access-date=2016-09-23}}</ref>
Murphy is research assistant professor with the Free Market Institute at Texas Tech University.<ref>{{Cite web |url=https://mises.org/profile/robert-p-murphy |title=Robert P. Murphy |date=2014-06-20 |website=Mises Institute |language=en |access-date=2019-07-22 |archive-date=2019-08-08 |archive-url=https://web.archive.org/web/20190808201734/https://mises.org/profile/robert-p-murphy |url-status=live}}</ref> 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,<ref>{{Cite web |url=https://www.depts.ttu.edu/freemarketinstitute/people/murphy.php |title=Free Market Institute – Our People – Robert Murphy, Ph.D. |last=University |first=State of Texas and Texas Tech |website=www.depts.ttu.edu |access-date=2016-09-23 |archive-date=2016-09-24 |archive-url=https://web.archive.org/web/20160924100534/https://www.depts.ttu.edu/freemarketinstitute/people/murphy.php |url-status=live}}</ref> the [[Institute for Energy Research]] (IER) as the senior economist focusing on climate change,<ref name="IERprofile">[http://www.instituteforenergyresearch.org/scholars/robert-p-murphy/ Robert P. Murphy profile] {{Webarchive|url=https://web.archive.org/web/20130810233357/http://www.instituteforenergyresearch.org/scholars/robert-p-murphy/ |date=2013-08-10 }}, [[Institute for Energy Research]], ''accessed December 9, 2013'',</ref> the [[Independent Institute]],<ref name="II-profile">[http://www.independent.org/aboutus/person_detail.asp?id=1114 Robert P. Murphy profile] {{Webarchive|url=https://web.archive.org/web/20131214112810/http://www.independent.org/aboutus/person_detail.asp?id=1114 |date=2013-12-14 }}, [[Independent Institute]], ''accessed December 5, 2013.''</ref> the [[Ludwig von Mises Institute]],<ref name="Robert P. Murphy profile">[https://mises.org/daily/author/380 Robert P. Murphy profile] {{Webarchive|url=https://web.archive.org/web/20140914004059/https://mises.org/daily/author/380 |date=2014-09-14 }} at [[Ludwig von Mises Institute]], ''accessed December 5, 2013.''</ref> and the [[Fraser Institute]] in Canada.<ref name=":3">{{Cite web |url=https://www.fraserinstitute.org/content/dr-robert-p-murphy |title=Robert P. Murphy |access-date=2016-09-23 |archive-date=2016-09-24 |archive-url=https://web.archive.org/web/20160924110223/https://www.fraserinstitute.org/content/dr-robert-p-murphy |url-status=live}}</ref>


Murphy has written books such as ''Choice: Cooperation, Enterprise, and Human Action'' (Independent Institute, 2015),<ref name=":1">{{Cite web |url=https://www.depts.ttu.edu/freemarketinstitute/people/murphy.php |title=Free Market Institute - Our People - Robert Murphy, Ph.D. &#124; Free Market Institute &#124; TTU |access-date=2016-09-24 |archive-date=2016-09-24 |archive-url=https://web.archive.org/web/20160924100534/https://www.depts.ttu.edu/freemarketinstitute/people/murphy.php |url-status=live}}</ref> ''Primal Prescription'' with Doug McGuff, MD regarding healthcare in the United States,<ref>{{Cite web |url=http://www.primalblueprintpublishing.com/books/the-primal-prescription/ |title=The Primal Prescription |date=2015-05-21 |language=en-US |access-date=2016-09-23 |archive-date=2016-08-26 |archive-url=https://web.archive.org/web/20160826203811/http://www.primalblueprintpublishing.com/books/the-primal-prescription/ |url-status=live}}</ref> and ''Lessons for the Young Economist'' (Mises Institute 2010).<ref>{{Cite web |url=https://mises.org/library/lessons-young-economist |title=Lessons for the Young Economist |date=2014-08-06 |access-date=2016-09-23 |archive-date=2016-09-24 |archive-url=https://web.archive.org/web/20160924111717/https://mises.org/library/lessons-young-economist |url-status=live}}</ref> He has written study guides to works of [[Ludwig von Mises]] and [[Murray Rothbard]].<ref name="IERprofile" /> 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.<ref>Raymond J. Keating, [http://www.fee.org/the_freeman/detail/the-politically-incorrect-guide-to-the-great-depression-and-the-new-deal "Book review: ''The Politically Incorrect Guide to the Great Depression and the New Deal''] {{Webarchive|url=https://web.archive.org/web/20140113203351/http://www.fee.org/the_freeman/detail/the-politically-incorrect-guide-to-the-great-depression-and-the-new-deal |date=2014-01-13 }}", ''[[The Freeman]]'', December 22, 2010.</ref>{{primary source inline|date=December 2021}}
He also is the president of Consulting By RPM, where he specializes in economic analysis for a lay audience.<sup>[[Robert P. Murphy#cite note-IERprofile-1|[1]]][[Robert P. Murphy#cite note-USATrust-9|[9]]][[Robert P. Murphy#cite note-10|[10]]]</sup> In addition to economic subjects, Murphy writes about and has presented an online video class on an introduction to [[anarcho-capitalism]], made available through [[Ludwig von Mises Institute]] website.<ref>Robert P. Murphy, [https://mises.org/daily/6114/ Learn Anarcho-Capitalism Online], Mises Daily, July 24, 2012.</ref><ref name="But Wouldn't Warlords Take Over"/> Murphy discussed climate change and energy-related topics, on behalf of IER, in testimony before a US Congressional committee.<ref>[https://web.archive.org/web/20140610081505/http://www.highbeam.com/doc/1P1-217814163.html Climate Change: Robert P. Murphy, Congressional Testimony, July 18, 2013], Federal Document Clearing House, Inc., ''accessed via [[Highbeam]]''</ref><ref>[https://web.archive.org/web/20140610075853/http://www.highbeam.com/doc/1P1-154624785.html Oil Prices and the Weak Dollar: Robert P. Murphy, Congressional Testimony, July 24, 2008], Federal Document Clearing House, Inc., ''accessed via [[Highbeam]]''</ref><ref>[https://web.archive.org/web/20140610075905/http://www.highbeam.com/doc/1P1-193046726.html Impact of Federal Reserve Policies on Gas Prices:robert P. Murphy, Congressional Testimony, May 25, 2011], Federal Document Clearing House, Inc., ''accessed via [[Highbeam]]''.</ref><ref>[http://www.epw.senate.gov/public/index.cfm?FuseAction=Files.View&FileStore_id=d742 Written Testimony] of Robert P. Murphy, Senior Economist, Institute for Energy Research, Before the Senate Committee on Environment and Public Works On the Matter of "The 'Social Cost of Carbon': Some Surprising Facts" July 18, 2013; Senate Committee website ''accessed December 8, 2013.''</ref>


⚫
===Erroneous inflation predictions===
==Publications==
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 double-digit inflation and economic ruin by 2013, and notes that he lost the bet.<ref name="Killing the Currency">Robert P. Murphy, [http://www.theamericanconservative.com/articles/killing-the-currency/ "Killing the Currency"] {{Webarchive|url=https://web.archive.org/web/20130630080146/http://www.theamericanconservative.com/articles/killing-the-currency/ |date=2013-06-30 }}, [[The American Conservative]], December 10, 2009.</ref><ref name="Reason">{{Cite web |url=https://reason.com/archives/2014/11/30/whatever-happened-to-inflation/singlepage |title=Reason |date=November 30, 2014 |access-date=2016-01-05 |archive-date=2015-09-06 |archive-url=https://web.archive.org/web/20150906072910/http://reason.com/archives/2014/11/30/whatever-happened-to-inflation/singlepage |url-status=live}}</ref>
Dr. Murphy has written and co-written multiple books. His most recently published book is ''Choice: Cooperation, Enterprise, and Human Action'' (Independent Institute, 2015).<ref name=":1" /> He also co-authored ''Primal Prescription'' with Doug McGuff, MD regarding healthcare in the United States.<ref>{{Cite web|url=http://www.primalblueprintpublishing.com/books/the-primal-prescription/|title=The Primal Prescription|date=2015-05-21|language=en-US|access-date=2016-09-23}}</ref> He wrote a textbook for junior high students titled ''Lessons for the Young Economist'' (Mises Institute 2010), which is offered free of charge.<ref>{{Cite web|url=https://mises.org/library/lessons-young-economist|title=Lessons for the Young Economist|last=anne|date=2014-08-06|access-date=2016-09-23}}</ref>


⚫
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.<ref>{{cite news |last=Carney |first=John |title=Will Paul Krugman be Shamed Into Debating an Austrian Economics Wunderkind? |url=https://www.cnbc.com/2010/10/25/will-paul-krugman-be-shamed-into-debating-an-austrian-economics-wunderkind.html |access-date=April 19, 2013 |newspaper=CNBC website |date=October 25, 2010 |archive-date=June 24, 2013 |archive-url=https://web.archive.org/web/20130624002310/http://www.cnbc.com/id/39832879 |url-status=live}}</ref> 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" and added, "Why should I dignify that totally-wrong doctrine — that doctrine that's gotten everything wrong — by giving them a platform?", pointing to the erroneous inflation predictions.<ref>Lehrer, Brian (June 4, 2012). [http://www.wnyc.org/story/213836-paul-krugman-weighs/ "The Brian Lehrer Show: Paul Krugman Weighs In."] {{Webarchive|url=https://web.archive.org/web/20140203201903/http://www.wnyc.org/story/213836-paul-krugman-weighs/ |date=2014-02-03 }}</ref>{{efn|Exchange occurs at the 20:30 mark in the episode.}}<ref>{{Cite web |url=http://www.krugmandebate.com/ |title=Krugmandebate.com |access-date=2013-04-20 |archive-date=2013-05-12 |archive-url=https://web.archive.org/web/20130512090127/http://krugmandebate.com/ |url-status=live}}</ref>
Murphy has also written numerous works for lay audiences, including study guides to works of [[Ludwig von Mises]] and [[Murray Rothbard]].<ref name="IERprofile" /> Murphy is author of the 2007 book ''[[The Politically Incorrect Guide to Capitalism]]''. Murphy's Mises Institute colleague<ref>[https://mises.org/faculty "Senior Fellows, Faculty Members, and Staff."] Mises.org</ref> [[Gene Epstein]] wrote in ''[[Barron's Magazine]]'' that "Murphy makes a compelling case for the unfettered free market, or what his intellectual antagonists would call "[[market fundamentalism|free-market fundamentalism]]", but writes Murphy is sometimes too irreverent.<ref>{{cite web |last=Epstein |first=Gene |authorlink=Gene Epstein|title=Nine Good Reasons to Hit the Beach |work=Barron's Magazine |date=9 July 2007 |url=http://online.barrons.com/article/SB118377522237259874.html}}</ref> Murphy's book, ''The Politically Incorrect Guide to the Great Depression and the New Deal'', published in 2009, blamed the Depression on government policies.<ref>Raymond J. Keating, [http://www.fee.org/the_freeman/detail/the-politically-incorrect-guide-to-the-great-depression-and-the-new-deal "Book review: ''The Politically Incorrect Guide to the Great Depression and the New Deal'']", ''[[The Freeman]]'', December 22, 2010.</ref>{{POV statement|date=January 2014}}

Additionally, Murphy has written for ''[[The Washington Times]]'',<ref>Robert P. Murphy, [https://www.questia.com/read/1G1-219331413 Are Real Economists Bears?], ''[[The Washington Times]]'', February 19, 2010, ''accessed via [[Questia Online Library]]''.</ref> ''[[Forbes]]''<ref>Robert P. Murphy, [https://www.forbes.com/home/opinions/2008/03/16/fed-inflation-rates-oped-cx_rmlh_0317fedinflation.html Memo To The Fed: Stop Those Rate Cuts], ''[[Forbes]]'', March 16, 2008.</ref> and ''[[Barron's Magazine]]''.<ref>Robert P. Murphy, [http://online.barrons.com/article/SB121037306551481743.html Capitalism is validated by "mechanism-design" theory], ''[[Barron's Magazine]]'', May 12, 2008</ref> Murphy's writings have also been published in ''[[The American Journal of Economics and Sociology]]'', ''[[The Review of Austrian Economics]]'',<ref name="IERprofile" /> the ''[[Quarterly Journal of Austrian Economics]]''<ref>[http://consultingbyrpm.com/resumecv Resumé/CV], Robert P. Murphy website, ''accessed December 6, 2013''.</ref> and the ''[[Journal of Private Enterprise]]''.<ref>Robert P. Murphy, [http://journal.apee.org/images/a/af/Spring_2010_6.pdf Coordination: A Critique of Daniel Klein], The ''[[Journal of Private Enterprise]]'', 25(2), 2010, 117-127, 117.</ref> He has written for ''[[The Freeman]]'',<ref>[http://www.fee.org/authors/the_freeman/robert-p-murphy#axzz2mqwsDsM0 Robert P. Murphy archives] at ''[[The Freeman]]'' website.</ref> ''[[The American Conservative]]''<ref>[http://www.theamericanconservative.com/author/robert-p-murphy/ Robert P. Murphy archives] at ''[[The American Conservative]]'' website.</ref> and [[LewRockwell.com]].<ref>[http://archive.lewrockwell.com/murphy/murphy-arch.html Robert P. Murphy archives] at [[LewRockwell.com]].</ref> He previously wrote a column for both [[Townhall.com]]<ref>[http://www.townhall.com/columnists/RobertMurphy/ Robert Murphy columns archive], [[Townhall.com]], ''accessed December 6, 2013.''</ref> and [[Antiwar.com]]<ref>[https://original.antiwar.com/author/robert_murphy/ Robert Murphy column archive], [[Antiwar.com]].</ref>

===Contra Krugman===
In 2015, Murphy began ''Contra Krugman'', a weekly [[podcast]], with [[New York Times Best-Seller|New York Times Best-Selling]] author and historian [[Thomas Woods]] that critiques the [[New York Times]] columns of Nobel Prize winning economist [[Paul Krugman]]. The podcasts seek to teach economics "by uncovering and dissecting the errors of Krugman."<ref><nowiki>{{</nowiki>https://voicesofliberty.com/2015/09/15/paul-krugman-your-worst-nightmare-is-real-and-its-coming/<nowiki>}}</nowiki></ref><ref>http://contrakrugman.com/</ref>

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==Erroneous inflation predictions==
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 hyperinflation and economic ruin—predictions that did not come to fruition.<ref name="Reason"/>
In 2009, Murphy discussed various economic policies of the [[Presidency of George W. Bush|Bush]] and [[Presidency of Barack Obama|Obama]] administrations, which he called "incredible assaults on the private sector from the central government". He stated that the policies of [[Federal Reserve]] chairman [[Ben Bernanke]] and President Obama would lead to double-digit inflation with high unemployment and could facilitate the abandonment of the US Dollar by the end of the Obama Presidency. Murphy warned that soaring prices for gasoline and imported products sold at Wal-Mart might be blamed by Obama Administration officials on "an attack on the Dollar by foreign speculators" and used by them to replace the Dollar with the Amero or some other currency "issued by a supranational organization". Murphy urged investors to purchase an "emergency stockpile" of physical gold and silver, and predicted double-digit inflation.<ref name="Killing the Currency">Robert P. Murphy, [http://www.theamericanconservative.com/articles/killing-the-currency/ "Killing the Currency"], [[The American Conservative]], December 10, 2009.</ref> In July 2009, Murphy proclaimed that the economy would be "in the toilet for a decade" and predicted "20+ percent price inflation."<ref name="consultingbyrpm.com">Murphy, Robert P. (January 2, 2013). [http://consultingbyrpm.com/blog/2013/01/learning-from-brad-delong-and-paul-krugman.html "Learning from Brad DeLong and Paul Krugman."]</ref>

In a series of articles on his personal website, Murphy states that he agreed to a bet that there would be a year/year increase in the seasonally adjusted [[United States Consumer Price Index|Consumer Price Index]] of over 10% by 2013, and notes that he lost the bet.<ref name="consultingbyrpm.com"/>

In a column criticizing economists "who stick with their ideology no matter how badly it performs in practice", [[Paul Krugman]] noted that [[University of California, Berkeley]] Professor of Economics [[J. Bradford DeLong]] had attacked Murphy for "predicting double-digit inflation for years but remain[ing] absolutely committed to his framework" despite the predictions being unfulfilled.<ref>{{cite web | url=https://krugman.blogs.nytimes.com/2012/12/30/is-our-austerians-learning/ | title=Is Our Austerians Learning? | work=[[New York Times]] | date=December 30, 2012 | accessdate=1 November 2013}}</ref> In December 2012 Krugman again addressed Murphy's failed inflation predictions, criticizing Murphy's belief that "his failed inflation forecast is OK" because it is attributable to "huge deflationary downdraft that offset the inflationary impact of Fed expansion." Krugman wrote that if that was true, "we should be hailing Ben Bernanke for preventing a catastrophic deflation."<ref>Paul Krugman, [https://krugman.blogs.nytimes.com/2012/12/31/on-not-learning-continued/?_r=0 On Not Learning, Continued], New York Times, December 31, 2012.</ref> Murphy replied on his blog to Krugman and DeLong's criticisms, saying "my price inflation wager has ''nothing'' to do with Austrian business cycle theory" and that Krugman was using a "macro model" which does not apply to Austrian theory which relies on "heterogeneous capital goods" and artificially low interest rates distortion of investment flows into various sectors. He admitted he was not sure why his inflation prediction was wrong.<ref>[http://consultingbyrpm.com/blog/2013/01/learning-from-brad-delong-and-paul-krugman.html Learning From Brad DeLong and Paul Krugman], Robert P. Murphy blog, January 2, 2013.</ref> In a May 2013 piece published by ''[[The American Conservative]]'', Murphy wrote about Krugman's predictions regarding fiscal austerity and the [[Budget sequestration in 2013|2013 U.S. government budget sequestration]].<ref>Robert P. Murphy, [http://www.theamericanconservative.com/articles/heads-krugman-wins-tails-austerity-loses/ Heads Krugman Wins, Tails ‘Austerity’ Loses], [[The American Conservative]], May 23, 2013.</ref>

⚫
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.<ref>{{cite news|last=Carney|first=John|title=Will Paul Krugman be Shamed Into Debating an Austrian Economics Wunderkind?|url=https://www.cnbc.com/id/39832879|accessdate=19 April 2013|newspaper=CNBC website|date=October 25, 2010}}</ref> A promotional website was established for the challenge. Krugman called the proposed debate a "public circus" and stated "Why should I dignify that totally-wrong doctrine — that doctrine that's gotten everything wrong — by giving them a platform?"<ref>Lehrer, Brian (June 4, 2012). [http://www.wnyc.org/story/213836-paul-krugman-weighs/ "The Brian Lehrer Show: Paul Krugman Weighs In."]</ref><ref>[http://www.krugmandebate.com/ Krugmandebate.com]</ref>

==Foreign policy and maintaining an empire==
In addition to opposing the [[Iraq conflict (2003–present)|War in Iraq]],<ref>https://www.mises.org/library/critique-invasion-iraq</ref> Murphy has been critical of [[Neoconservatism|neoconservatives]] and their [[Interventionism (politics)|interventionist]] foreign policy views,<ref>https://www.mises.org/library/yellow-journalism-weekly-standard</ref> especially their views on economics.<ref>https://www.mises.org/library/david-frum-neoconservative-new-dealer</ref>

In 2008 Murphy wrote in a column, in response to [[Michael Kinsley]] on libertarianism, that "we shouldn't trust the government with military affairs after the [[Presidency of George W. Bush|Bush administration]]."<ref>https://www.mises.org/library/correcting-kinsley-libertarianism</ref> In 2014 Murphy wrote that "if Americans want a free society at home, then they must convince the U.S. government to give up its global empire." He goes on to state that the current aggressive U.S. foreign policy has been destructive to domestic liberties and concludes that "if you allow your government to maintain an empire abroad, then you can't possibly expect a free and open society at home."<ref>https://original.antiwar.com/robert_murphy/2014/08/29/a-free-society-must-give-up-empire/</ref> In 2017 Murphy made the case that "a free society will be far more defensible than a state-controlled analog, and by its very nature may avoid military conflict altogether because peaceful solutions are much more efficient."<ref>http://libertarianpapers.org/wp-content/uploads/2017/09/post/2017/09/lp-9-2-3-1.pdf</ref>

==Skepticism of Evolution==
In two [[LewRockwell.com]] articles entitled "Well, I'll be a Monkey's Nephew" and "More Monkey Business", Murphy expressed skepticism about evolution, in particular the claims of biologist [[Douglas J. Futuyma]]. <nowiki/> Futuyma makes the statement "How has Darwin’s challenge fared? No one has ever found a case of a species altruistically serving another, without any gain for itself."<ref>Futuyma, D. (1983). Science on Trial (p. 123). N.p.: Sinauer Associates</ref> Murphy argues that he can point to examples of human beings which disprove this claim. Murphy later disclaims, "To clarify, I am not saying that my examples refute Darwin's argument. I am claiming that my examples refute the much bolder claims of Futuyma in the block quotation."<ref>Murphy, Robert P (September 20, 2003). [http://web.archive.org/web/20060220204209/http://www.lewrockwell.com/murphy/murphy75.html "Well, I'll be a Monkey's Nephew."] LewRockwell.com</ref><ref>Murphy, Robert P (November 24, 2003). [http://web.archive.org/web/20060220204219/http://www.lewrockwell.com/murphy/murphy76.html "More Monkey Business."] LewRockwell.com</ref>


==Religious views==
==Religious views==
Murphy is a [[Christianity|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]]."<ref>Murphy, Robert P. "The Possibility of Private Law." ''Mises.org''. 3 August 2005. https://www.mises.org/story/1874</ref>
Murphy is a [[Christianity|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]]".<ref>{{Cite web |url=https://www.mises.org/story/1874 |title=Murphy, Robert P. "The Possibility of Private Law." ''Mises.org''. 3 August 2005. |date=July 22, 2005 |access-date=September 13, 2014 |archive-date=January 30, 2009 |archive-url=https://web.archive.org/web/20090130022246/http://www.mises.org/story/1874 |url-status=live}}</ref>


==Books==
==Books==
⚫
* ''[https://web.archive.org/web/20141216184521/http://library.freecapitalists.org/books/Robert%20P%20Murphy/Chaos%20Theory.pdf Chaos Theory]'' (2002) – Two essays on [[anarchocapitalism]]; one discussing the production of defense services, and the other describing the provision of private criminal and civil justice.
* [http://www.independent.org/publications/books/summary.asp?id=116 Choice: Cooperation, Enterprise, and Human Action] (July 1, 2015 - A concise and updated retelling of the magnum opus of Ludwig Von Mises, Human Action.
⚫
* ''[[The Politically Incorrect Guide to Capitalism]]'' (2007) – A volume in ''[[The Politically Incorrect Guide]]'' series published by [[Regnery Publishing]]. {{ISBN|978-1596985049}} {{OCLC|79860752}}
* [http://www.primalblueprintpublishing.com/books/the-primal-prescription The Primal Prescription] (2015) - Co-authored with Dough McGuff, MD. The authors utilize their expertise in separate fields of economics and medicine to offer a shocking and enlightening view into America's health care system.
⚫
* ''The Politically Incorrect Guide to the Great Depression and the New Deal'' (2009). {{ISBN|978-1596980969}} {{OCLC|315239348}}
* [https://mises.org/library/lessons-young-economist Lessons for the Young Economist] (Oct 28, 2010) - Lessons for the Young Economist is easily the best introduction to economics for the young reader, covering both pure economic theory and also how markets work.
* ''Lessons for the Young Economist'' (2010) – available at [https://mises.org/library/lessons-young-economist Mises.org Library]. {{ISBN|978-1933550886}} {{OCLC|681711737}}
⚫
* ''[http://library.freecapitalists.org/books/Robert%20P%20Murphy/Chaos%20Theory.pdf Chaos Theory]'' (2002) – A short work composed of two essays on [[anarchocapitalism|market anarchy]]; one discussing the production of defense services, and one describing the provision of private criminal and civil justice.
* {{cite book |title=Contra Krugman: Smashing the Errors of America's Most Famous Keynesian |author=Murphy, Robert P. |others=[[Ron Paul|Paul, Ron]] (foreword); [[Thomas Woods|Woods, Thomas E.]] (preface) |year=2018 |isbn=978-1722331795}}
⚫
* ''[[The Politically Incorrect Guide to Capitalism]]'' (April 2007) – A volume in ''[[The Politically Incorrect Guide]]'' series published by [[Regnery Publishing]]. {{ISBN|978-1-5969-8504-9}} {{OCLC|79860752}}
⚫
* ''The Politically Incorrect Guide to the Great Depression and the New Deal'' (April 2009) {{ISBN|978-1-5969-8096-9}} {{OCLC|315239348}}
* ''[http://wiki.mises.org/wiki/Lessons_for_the_Young_Economist Lessons for the Young Economist]'' (2010) {{ISBN|978-1-9335-5088-6}} {{OCLC|681711737}}
* ''How Privatized Banking Really Works – Integrating Austrian Economics with the Infinite Banking Concept'' (2010) co-written with L. Carlos Lara


==Notes==
==Notes==
{{reflist|30em}}
{{notelist}}

==References==
{{reflist}}


==External links==
==External links==
* [http://consultingbyrpm.com/ Robert P. Murphy website]
* [http://consultingbyrpm.com/ Robert P. Murphy website]
* [http://contrakrugman.com/ Robert P. Murphy at Contra Krugman]
* [http://contrakrugman.com/ Robert P. Murphy at Contra Krugman (podcast)]
* Robert P. Murphy at [[Institute for Energy Research]]: [http://www.instituteforenergyresearch.org/scholars/robert-p-murphy Profile]
* Robert P. Murphy at [[Institute for Energy Research]]: [http://www.instituteforenergyresearch.org/scholars/robert-p-murphy Profile]
* Robert P. Murphy at [[Mises.org]]: [https://mises.org/literature.aspx?action=author&Id=380 Literature archives], [https://mises.org/articles.aspx?AuthorId=380 Daily Article archives], [http://blog.mises.org/12387/faculty-spolight-interview-robert-murphy/ Faculty Spotlight Interview: Robert Murphy]
* Robert P. Murphy at [[Mises.org]]: [https://mises.org/literature.aspx?action=author&Id=380 Literature archives], [https://mises.org/articles.aspx?AuthorId=380 Daily Article archives], [http://blog.mises.org/12387/faculty-spolight-interview-robert-murphy/ Faculty Spotlight Interview: Robert Murphy]
* {{C-SPAN|robertpmurphy}}
* {{C-SPAN|1024976}}


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Latest revision as of 21:29, 30 December 2024

For other people named Bob Murphy, see Robert Murphy.

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

[edit]

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

[edit]

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]

Erroneous inflation predictions

[edit]

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 double-digit inflation and economic ruin by 2013, and notes that he lost the bet.[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" and added, "Why should I dignify that totally-wrong doctrine — that doctrine that's gotten everything wrong — by giving them a platform?", pointing to the erroneous inflation predictions.[16][a][17]

Religious views

[edit]

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".[18]

Books

[edit]
  • Chaos Theory (2002) – Two essays on anarchocapitalism; 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). ISBN 978-1722331795.

Notes

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

References

[edit]
  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. ^ "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.
[edit]
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