Academic Work

Robert P. Murphy
Cell: (212) 748-9095


Ph.D. Economics, New York University, Spring 2003
B.A. Economics, Hillsdale College, Magna Cum Laude, 1998


Climate Change, Interest Theory, Financial Economics, Trade, Game Theory


Law & Economics, Political Economy, Public Choice


Title: Unanticipated Intertemporal Change in Theories of Interest

Committee: Mario Rizzo (chair), Alberto Bisin, Boyan Jovanovic


Senior Fellow, Bus. & Econ. Studies, Pacific Research Institute, Sept. 2007 – present.

Economist, Institute for Energy Research, May 2007 – present.

Research Analyst, Laffer Associates, September 2006 – June 2007.

Visiting Scholar, New York University, June 2006 – August 2006.

Visiting Assistant Professor of Economics, Hillsdale College, August 2003 – May 2006.


Principles of Microeconomics / Macroeconomics

Intermediate Microeconomics

Game Theory

History of Economic Thought I and II

Austrian Economics I and II

Honors Seminar on “Spontaneous Order”


“Are Residual Economic Relationships Normally Distributed? Testing an Assumption of Neoclassical Economics” (with Thomas Bundt). The Review of Austrian Economics, forthcoming.

“Interest and the Marginal Product of Capital: A Critique of Samuelson.” Journal of the History of Economic Thought, forthcoming.

“Cantor’s Diagonal Argument: An Extension to the Socialist Calculation Debate.” The Quarterly Journal of Austrian Economics, Vol. 9, No. 2 (Summer 2006), pp. 3-11.

“A Note on Walter Block’s Defending the Undefendable: The Case of the ‘Heroic’ Counterfeiter.” American Journal of Economics and Sociology, Vol. 65, Issue 2 (April 2006), pp. 463-467.

“Hans-Hermann Hoppe’s Argumentation Ethic: A Critique” (with Gene Callahan). The Journal of Libertarian Studies, Vol. 20, No. 2 (Spring 2006), pp. 53-64.

“The Labor Theory of Value: A Critique of Carson’s Studies in Mutualist Political Economy.” The Journal of Libertarian Studies, Vol. 20, No. 1 (Winter 2006).

“Dangers of the One-Good Model: Böhm-Bawerk’s Critique of the ‘Naïve Productivity Theory’ of Interest.” Journal of the History of Economic Thought, Vol. 27, No. 4 (December 2005), pp. 375-382.

“The Economics of the Very Long Run” (with Walter Block). Homo Oeconomicus, Vol. 19, No. 4 (2003), pp. 507-517.


The Politically Incorrect Guide to Capitalism, Regnery 2007.

Study Guide for Ludwig von Mises’ Human Action, Ludwig von Mises Institute, forthcoming.

Study Guide for Murray Rothbard’s Man, Economy, and State with Power and Market, Ludwig von Mises Institute, Summer 2006.


Nigel Lawson, An Appeal to Reason: A Cool Look at Global Warming. Reviewed in Economic Affairs, forthcoming.

Peter Boettke and Peter Leeson (eds.), The Legacy of Ludwig von Mises: Theory and History. Reviewed in The Journal of the History of Economic Thought, forthcoming.

Richard Nelson (ed.), The Limits of Market Organization. Reviewed in The Independent Review, Vol. 11, No. 1 (Summer 2006).

Steve Keen, Debunking Economics. Reviewed in Review of Austrian Economics, Vol. 16, Issue 4 (December 2003), pp. 381-384 (with Gene Callahan).

Leland Yeager, Ethics as Social Science. Reviewed in The Journal of Libertarian Studies, Vol. 16, No. 1 (Winter 2002), pp. 106-114.

Butler Shaffer, In Restraint of Trade: The Business Campaign Against Competition. Reviewed in The Journal of Libertarian Studies, Vol. 15, No. 4 (Fall 2001), pp. 113-116.

Ingo Pellengahr, The Austrian Subjectivist Theory of Interest: An Investigation into the History of Thought. Reviewed in The Quarterly Journal of Austrian Economics, Vol. 4, No. 1 (Spring 2001), pp. 85-89.


“Rolling the DICE: Nordhaus’ Dubious Case for a Carbon Tax.” (Submitted to Southern Economic Journal.)

“The Rational Expectations Objection to Austrian Business Cycle Theory: Prisoner’s Dilemma or Noisy Signal?”

“The Sraffa-Hayek Debate: Natural Rates of Interest and Lessons for Modern Austrians.” (Submitted to History of Economic Ideas.)

“Radical Subjectivism and Mixed Strategies: A Comment on O’Driscoll and Rizzo.”

“Large Voter Turnout in Two-Candidate Elections.”

“Private Solutions to Positive Externalities: Military Expenditures, Insurance, and Call Options.”


History of Political Economy
The Journal of the History of Economic Thought
The Quarterly Journal of Austrian Economics
Review of Austrian Economics
The Independent Review
Human Rights Review