Bob Murphy

Author Archive

Net Foreign Debt Bask

A Keynesian refrain that has arisen in the last few years is that a country that issues its own currency can only have a debt crisis if its institutions have a lot of net debt denominated in foreign currencies. For example, today Paul Krugman says Russia is in trouble for just this reason (even though […]

Jeff Tucker and I Talk Bitcoin

The updated version of my guide co-authored with Silas Barta (which fixed a slight mistake in a footnote, as well as some typos) is here. Jeff has a forthcoming book on peer-to-peer technology, of which Bitcoin is simply the most developed example.

Ecclesiastes Doesn’t Exactly Endorse Hedonistic Economics

The book of Ecclesiastes (reputedly written by Solomon though some dispute this) is pretty depressing at times. From Chapter 1: 12 I, the Teacher, was king over Israel in Jerusalem. 13 I applied my mind to study and to explore by wisdom all that is done under the heavens. What a heavy burden God has […]

Rothbard on Torture

Every once in a while, someone who wants to stick it to Rothbardians will pull up this passage: “We may qualify this discussion in one important sense: police may use such coercive methods provided that the suspect turns out to be guilty, and provided that the police are treated as themselves criminal if the suspect […]

Potpourri

==> In case you didn’t have the stomach to investigate, at least check out these excerpts from the Senate torture report. If you just watched Fox News, you would think they poured some water on Bin Laden’s head. But no, their methods included prisoners losing an eye and literally freezing to death, and the interrogators […]

How Did the West Abolish Slavery?

This is a neat interview Tom Woods had with Jim Powell:

Jon Stewart Admits His Error

I know you guys think I’m too soft on him, but I really like how Jon Stewart handled this. In particular, he could’ve, in a jokey way, blamed it on his staff without coming off like a total jerk. (E.g. “In retrospect, perhaps I shouldn’t have given my researchers shots of Jagermeister that day…” as […]

Every Citizen Must Know Basic Economics

Near the end of his treatise on economics, Ludwig von Mises wrote: There is no means by which anyone can evade his personal responsibility. Whoever neglects to examine to the best of his abilities all the problems involved voluntarily surrenders his birthright to a self-appointed elite of supermen. In such vital matters blind reliance upon […]