Bob Murphy

Author Archive

Daniel Dennett’s “User Illusion”

Back when I was a materialist, I loved Daniel Dennett’s theory that consciousness was an evolutionarily driven “user illusion.” Gene Callahan actually pulled me out of that by asking the simple question: Who is the user being fooled? Gene’s question was so poignant that it either was devastating (if you agree with him) or childish […]

Yellen and the End of QE3

Although it has been dubbed “surprisingly hawkish” by the financial press, the Fed’s announcement today fulfilled its original plan to wind up QE3 asset purchases this month. Going forward, the Fed will continue to reinvest the principal on its maturing bonds, but it won’t add assets on net to its balance sheet. In my view, […]

“Breaking Bad: Can Regulation Be Fixed?”

My latest article in the Freeman. An excerpt: The whole schtick of the regulatory State is that we can trust a group of technocrats in Washington, DC, to guard the interests of the people by standing up to the greedy and soulless business tycoons who — left to their own devices — would lie, cheat, […]

Focus on “Co-Benefits” Shows Flaw in Carbon Tax Case

My latest at IER. An excerpt: First of all, consider the title of the new IMF study: “How Much Carbon Pricing is in Countries’ Own Interests? The Critical Role of Co-Benefits.” I hope the reader’s Spidey Sense is tingling at this point. The IMF study’s entireraison d’étre is that without co-benefits—which we must remember, is a concept enjoying relatively recent attention […]

I Pity the Fool Who Thinks Money Measures Value

A follow-up post at Mises CA: [L]et’s try a different thought experiment. As before, suppose the government locks in the dollar-price of gold, thinking that this will provide a “stable ruler of fixed length” by which people can measure market values. Yet a sudden resurgence of interest in Mr. T causes most Americans to want […]

Murphy on Sound Money

I’ll be speaking at the Acton Institute next week (November 4) if you are in the Grand Rapids area and want to stop by…

Potpourri

==> Bill Kauffman has no love for the U.S. empire. ==> Martin Wolf writes in the FT that we’re trapped in a cycle of credit booms. ==> If you’re into Bitcoin, catch me in the second hour of this show or here again. ==> If you’re into the Mandelbrot Set (the cover image of my […]

Well It May Be the Devil, Or It May Be the Lord

…but you’re gonna have to serve somebody. Since I am relatively new to this stuff, I thought some of you–whether believers are not–would be interested to hear of it as well. As I’m sure you can imagine, I have a circle of friends/acquaintances who are Bible-believing Christians, and I have a circle who share my […]