Archive for Austrian School

Capital & Interest in the Austrian Tradition, Part 1 of 3

If you are a professional economist, you should at least give this a listen starting at 37:10. That’s the second half of the episode where I explain how Bohm-Bawerk’s critique of the “naive productivity theory of interest” can be correct, even though mainstream models routinely conclude that r=MPK. Of course, if you call yourself an […]

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Peter Klein Talks Entrepreneurship

And Christina Romer, Bill Clinton, and Israel Kirzner. The latest episode of the Bob Murphy Show. Incidentally, especially for young Austrian grad students / PhDs, Peter and I talk about shortcomings in standard Austrian theory at the tail end.

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Potpourri

Sorry for the radio silence. We had the 3rd annual Contra Cruise, and I also had a bunch of “day job” projects. Things should be getting back to normal around here… ==> Speaking of the cruise, this is the episode Tom and I recorded in front of the live audience. Good stuff–and don’t miss the […]

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Murphy vs. the Market Monetarists

It is a dirty rotten lie when people say I just go after Krugman. In my latest for Mises.org, I have a long critique of Scott Sumner and Kevin Erdmann’s narrative of the housing boom/bust. An excerpt: On the face of it, Erdmann is trying to demonstrate that if we use an objective measure, then […]

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Further Thoughts on Fractional Reserve Banking and Simple Theft

Again, it looks like I’m loading the deck by saying “FRB is like a mugger,” but that’s not the motivation for this analogy… If you haven’t already read it, you should check out my previous post, where I set up a thought experiment to work through the mechanics of FRB, and how it might (or […]

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Bursting Erdmann’s Bubble

[EDIT: I’ve added Erdmann’s second graph below.] In a previous post I was talking about Austrian business cycle theory and the housing bubble. Kevin Erdmann thought he blew us up by posting these two charts:   and Erdmann asked, “Would anyone care to make an ABC interpretation of those two graphs? Did low rates cause […]

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Where Monetarism Goes Wrong

Jeff Deist had me on “Mises Weekends” to talk about Vienna vs. Chicago. Speaking of which, we’ll be in Chicago next week, and then Seattle.

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Why Does Freedom Work?

This was my talk at the Independent Institute event in San Fransisco in April. What’s new here is my opening discussion of Carlos Lara.

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