Bob Murphy

Author Archive

Calling Noah Smith’s Bluff on Demand- Versus Supply-Side Recessions

I still intend to give a more thorough response to Karl Smith and Daniel Kuehn in light of their reactions to my “gnome” article. One of their main themes is to be shocked, shocked that we Austrians keep accusing the Keynesians of thinking in aggregate terms. Why, Karl’s middle name is “microdata,” and Daniel argues […]

Leveraging the EFSF Bailout Fund would Leave European Taxpayers More Vulnerable

This is such an obvious point, but I still haven’t seen anybody spell it out. So the context is the stabilization fund that the European powers are setting up to bail out the PIIGS: As Europe continues to battle its debt crisis, Timothy Geithner has a suggestion. The Treasury secretary today called on euro zone […]

Is Spending Money a Market Failure?

Steve Landsburg is trying to think through the implications of assuming sticky prices. But it’s the first part of his post that strikes me as fishy: [L]et me start with something I do understand — a world with flexible prices and (for simplicity) no inflation. (What follows is standard textbook material, which we all learned […]

MMT Reporter

This is making the rounds on Facebook.

I Hope Scott Sumner Is Happy

Over on his blog, Scott Sumner has been saying “I hope the inflation hawks are happy, this is what tight money looks like” after the big sell-off in the markets when “Operation Twist” turned out to be sterilized. That’s a bit like pointing out the heroin addict going through terrible withdrawal pains and saying to […]

Lawrence O’Donnell Surprisingly Bold on the NYPD

Who cares why he did it…LOD is surprisingly bold here:

My Favorite Newscaster in Slovakia

If someone can figure out how to embed this video, that would be cool.

Short Clip on Solyndra

I’d like to say I had a lot of input into this video, but alas my colleagues at IER did it all on their own. I had suggested that I take my shirt off and do an impression of Joe Biden while standing in the bathroom. But they thought it would be too esoteric for […]