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Robert P. Murphy

Tags Legal SystemAustrian Economics OverviewBusiness Cycles

Works Published inThe Journal of Libertarian StudiesQuarterly Journal of Austrian EconomicsMises ReviewThe Free MarketReview of Austrian Economics, Volumes 1-10The AustrianSpeeches and PresentationsMises Daily ArticleArticles of Interest

Robert P. Murphy is a Senior Fellow with the Mises Institute and Research Assistant Professor with the Free Market Institute at Texas Tech University. He is the author of many books including Choice: Cooperation, Enterprise, and Human Action (Independent Institute, 2015) which is a modern distillation of the essentials of Mises's thought for the layperson. Murphy is co-host, with Tom Woods, of the popular podcast Contra Krugman, which is a weekly refutation of Paul Krugman's New York Times column.

Chaos Theory

Political Theory

Working within a Rothbardian framework, Murphy takes up the challenge of Hans Hoppe regarding the role of market insurance in property security to extend the analysis to the security of person.

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Lessons for the Young Economist

EducationAustrian Economics Overview

Murphy's textbook prepares the student for both conventional economic studies in the future, and provides the logical rigor and policy clarity that only the Austrian School perspective can offer.

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All Works

Socialism: The Calculation Problem Is Not the Knowledge Problem

Calculation and Knowledge


This market process is what allows a capitalist system to efficiently allocate resources, whereas a socialist system cannot—not even “in principle.”

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Trade Deficits and Fiat Currencies

03/09/2018Mises Daily Articles
A trade deficit per se is not a sign of a bad economy. Indeed the trade deficit might blossom if the US ever returned to the gold standard.

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A Gas Tax Hike Is the Wrong Way to Fund Highways

Taxes and Spending

Using the federal gas tax to fund infrastructure is at best a very blunt instrument, and at worst an invitation to wasteful spending.

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On Universities, Krugman, and the State of Austrian Economics

EducationU.S. EconomyAustrian Economics Overview

02/22/2018The Austrian
In his usual engaging way, Robert Murphy explains what's wrong with the economics profession — it might have something to do with Paul Krugman.

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Paul Krugman Should Love President Trump’s Infrastructure Plan

U.S. EconomyOther Schools of Thought

If President Trump’s infrastructure proposal works out exactly as Paul Krugman has described it, Krugman should be applauding it.

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