Bob Murphy

Author Archive

Accounting for Capital and Income

In my latest EconLib article, I first walk through the basics of income and capital accounting. (Even if you think this is standard stuff, you might want to skim it because there are some subtleties.) Then I give three examples of how people often get mixed up about what the empirical evidence means. In particular, […]

Murphy vs. Hank Paulson on Climate Change

I am working on a post that gets into the specifics, but my first reaction to Henry Paulson et al.’s recent evangelism on climate change policy. An excerpt: In a sense, Henry Paulson actually is a great guy to be spearheading the movement to get the federal government heavily involved in the energy sector. He […]

The Legendary Pat Murphy

My dad had back-to-back gigs while I visit for the holiday, so I made a medley.

The Founding Fathers and Moral Courage

My latest LibertyChat article. The stirring conclusion: So as I reflect this Fourth of July on the men we are taught to revere as our “Founding Fathers,” I celebrate not the willingness to kill for liberty, but instead the willingness to do what is right, regardless of the effects on popularity or even personal safety. […]

Mises Institute USA and Canada Events

From July 20 – 26 I will be in Auburn AL at the original Mises Institute for the famous “Mises University.” This is the flagship event for the Mises Institute in which we provide a comprehensive introduction to Austro-libertarian thought. I realize a week in Alabama in July doesn’t sound appetizing, but it is truly […]

The Fed Flirted With Insolvency in December

For a while now I have been warning people that even a slight rise in interest rates could render the Fed technically insolvent, because the market value of its assets would be lower than its outstanding liabilities. In terms of accounting, therefore, it would have negative shareholder equity. Now in early 2011, there was a […]

Getting My Hands Dirty in the Mud With Noah Smith

Here’s my response to Noah Smith. An excerpt: So note the contradiction: On the one hand, mainstream economists ridicule Misesians for their “medieval” approach to economic theory, in which they deduce results logically rather than producing falsifiable propositions. But then these same critics tell the world that the outcome of a CPI movement destroys the […]