Curriculum Vitae
Robert P. Murphy

Senior Fellow
Mises Institute


Ph.D. Economics, New York University, Spring 2003
B.A. Economics, Hillsdale College, Magna Cum Laude, 1998


Senior Fellow, Mises Institute, October 2017 –.

Research Assistant Professor, Free Market Institute at Texas Tech, August 2015 – June 2019.

Senior Economist, Institute for Energy Research, May 2007 – April 2010, September 2010 – March 2020.

Senior Fellow, Fraser Institute, July 2013 –.

Research Fellow, Independent Institute, August 2012 –.

Senior Fellow, Bus. & Econ. Studies, Pacific Research Institute, Sept. 2007 – August 2011.

Research Analyst, Laffer Associates, September 2006 – June 2007.

Visiting Scholar, New York University, June 2006 – August 2006.

Visiting Assistant Professor of Economics, Hillsdale College, August 2003 – May 2006.


Murphy, Robert P. (2019) “More Than Quibbles: Problems With the Theory and History of Fractional Reserve Free Banking.” Quarterly Journal of Austrian Economics, Vol. 22, No. 1, pp. 3-25, Spring 2019.

Manish, G.P. and Robert P. Murphy. (2018) “Monetary Misperception, Rational Expectations, and the Austrian Theory of the Business Cycle.” Journal of Private Enterprise, Vol. XXXIII, No. 2, Summer 2018, pp. 83-96.

Murphy, Robert P. (2018) “Removing the 1970s Crude Oil Price Controls: Lessons for Free Market Reform.” Journal of Private Enterprise, Vol. XXXIII, No. 1, Spring 2018, pp. 63-78.

Murphy, Robert P. (2018) “The Connection Between Entrepreneurship and Economic Prosperity: Theory and Evidence,” chapter 1 in Entrepreneurship and Prosperity (Fraser Institute).

Murphy, Robert P. (2017) “Is Garrison’s Notion of ‘Secular Growth’ Compatible With the Solow Growth Literature?” Quarterly Journal of Austrian Economics, Vol. 20, No. 4, pp. 336-353.

Murphy, Robert P. (2017) “Libertarian Law and Military Defense.” Libertarian Papers, Vol. 9, No. 2, pp. 213-232.

Murphy, Robert P. (2017) “Conclusion,” chapter in Robert M. Whaples, ed., Pope Francis and the Caring Society, Independent Institute, pp. 199-220.

Knappenberger, Paul, Pat Michaels, and Robert P. Murphy. (2016) “The Case Against a Carbon Tax.” Cato Policy Analysis #801, October 17, 2016.

Murphy, Robert P. (2016) “Review of The Midas Paradox: Financial Markets, Government Policy Shocks, and the Great Depression by Scott Sumner.” Quarterly Journal of Austrian Economics, Vol. 19, No. 1 (Spring 2016), pp. 101-111.

Magness, Phillip and Robert P. Murphy. (2015) “Challenging the Empirical Contribution of Thomas Piketty’s Capital in the Twenty-First Century. Journal of Private Enterprise, 2015 Vol. 30 (Issue 1), Spring.

Murphy, Robert P. (2014) “The Carbon Tax Win-Win: Too Good to Be True? The Tax Interaction Effect and Political Realities.” Macdonald-Laurier Institute (MLI) Report, October 2014, pp. 1-19.

Murphy, Robert P. (2013) “Energy Conservation Program for Consumer Products: Energy Conservation Standards for Residential Furnace Fans.” Mercatus Center Public Interest Comment submitted to Department of Energy, Office of Energy Efficiency and Renewable Energy, December 2013, pp. 1-9.

Clemens, Jason, Robert P. Murphy, and Niels Veldhuis. (2013) “The Economic Costs of Increased Marginal Tax Rates in Canada.” Fraser Institute, Studies in Budget and Tax Policy, October 2013, pp. 1-46.

Clemens, Jason and Robert P. Murphy. (2013) “Reforming Alberta’s Heritage Fund: Lessons from Alaska and Norway.” Fraser Institute, Alberta Prosperity Initiative, March 2013, pp. 1-42.

Murphy, Robert P. (2012) “Carbon ‘Tax Swap’ Deals: A Review and Critique.” Institute for Energy Research, November 2012, pp. 1-47.

Crowley, Brian Lee and Robert P. Murphy. (2012) “No Dutch Treat: Oil and Gas Benefits All Canadians” (with Brian Lee Crowley). MLI Commentary, No. 1 in the High Dollar Series of commentaries, May 2012, pp. 1-13.

Murphy, Robert P. (2010) “Coordination: A Critique of Daniel Klein.” Journal of Private Enterprise, Vol. 25, No. 2, pp. 117-127.

Michaels, Robert and Robert P. Murphy. (2009) “Green Jobs: Fact or Fiction? An Assessment of the Literature.” Institute for Energy Research, January 2009, pp. 1-19.

Barnett II, William, Walter Block, and Robert P. Murphy. (2009) “Testing Austrian Business Cycle Theory? A Rejoinder to Andrew T. Young.” Journal of Business and Economic Perspectives, Vol. XXXV, No. 2, Fall/Winter 2009.

Murphy, Robert P. (2009) “Rolling the DICE: Nordhaus’ Dubious Case for a Carbon Tax.” The Independent Review, Vol. 14, No. 2 (Fall 2009), pp. 197-217.

Bundt, Thomas and Robert P. Murphy. (2008) “Are Residual Economic Relationships Normally Distributed?  Testing an Assumption of Neoclassical Economics.” The Review of Austrian Economics, Vol. 21, No. 4 (December 2008), pp. 329-340.

Murphy, Robert P. (2008) “Oil Speculators: Bad or Good” EconLib Featured Article, August 4, 2008.

Westley, Christopher, Robert P. Murphy, and William L. Anderson. (2008) “Institutions, Incentives, and Disaster Relief: The Case of the Federal Emergency Management Agency Following Hurricane Katrina.” International Journal of Social Economics, Vol. 35, No. 7, pp. 501-511, Summer 2008.

Murphy, Robert P. (2008) “Ending the Revenue Rollercoaster: The Benefits of a 3% Flat Income Tax for California.” Pacific Research Institute, May 2008, pp. 1-61.

Murphy, Robert P. (2008) “Oil Prices.” EconLib Featured Article, April 7, 2008.

Murphy, Robert P. (2007) “Interest and the Marginal Product of Capital: A Critique of Samuelson.”  Journal of the History of Economic Thought, Vol. 29, No. 4, pp. 453-464.

Murphy, Robert P. (2006) “Cantor’s Diagonal Argument: An Extension to the Socialist Calculation Debate.” The Quarterly Journal of Austrian Economics, Vol. 9, No. 2 (Summer 2006), pp. 3-11.

Murphy, Robert P. (2006) “A Note on Walter Block’s Defending the Undefendable: The Case of the ‘Heroic’ Counterfeiter.” American Journal of Economics and Sociology, Vol. 65, Issue 2 (April 2006), pp. 463-467.

Murphy, Robert P. (2005) “Dangers of the One-Good Model: Böhm-Bawerk’s Critique of the ‘Naïve Productivity Theory’ of Interest.” Journal of the History of Economic Thought, Vol. 27, No. 4 (December 2005), pp. 375-382.


Murphy, Robert P. “Physical Capital and Financial Capital Are Different Things, and Why It Matters.” (Presented at the 2018 APEE meeting.)

Murphy, Robert P. “Inequality and the Gold Standard.”

Murphy, Robert P. and Michael Makovi. “How the Solow Model Misleads Economists in Cross-Country Comparisons.”

Murphy, Robert P. and Ryan Griggs. “Americans’ Choice of Assets Over Time.”

Murphy, Robert P. “Why Does An Inverted Yield Curve ‘Predict’ a Recession? Hayek vs. Harvey.” (To be presented at the 2018 SDAE meeting.)

Murphy, Robert P. “Secular Growth and ‘Real Liquidity’: Bridging Garrison and Salerno.”

Murphy, Robert P. and Gonzalo Macera. “Pitfalls in the ‘New’ Minimum Wage Literature: A Simulation Approach.” (Presented at 2016 SEA meeting.)

Murphy, Robert P. “A General Equilibrium Illustration of the ‘Tax Interaction Effect’ with a Carbon Tax.” (Presented at 2016 SEA meeting.)


Murphy, Robert P. and Doug McDuff, M.D. (2015). The Primal Prescription: Surviving the “Sick Care” Sinkhole. Primal Publishing, September 2015.

Murphy, Robert P. (2015). Choice: Cooperation, Enterprise, and Human Action. The Independent Institute, May 2015.

Clemens, Jason, Robert P. Murphy, Milagros Palacios, and Niels Velduis. (2015) Economic Principles for Prosperity. Fraser Institute.

Murphy, Robert P. (2009) The Politically Incorrect to the Great Depression and the New Deal. Regnery, 2009.

Murphy, Robert P. (2007) The Politically Incorrect Guide to Capitalism. Regnery, 2007.


Murphy, Robert P. (2017) “Federal Energy Related Tax Policy and Its Effects on Markets, Prices, and Consumers.” Testimony submitted before the House Committee on Energy and Commerce, Subcommittee on Energy, March 29, 2017.

Murphy, Robert P. (2013) “The ‘Social Cost of Carbon’: Some Surprising Facts.” Testimony submitted before the Senate Committee on Environment and Public Works, July 18, 2013.

Murphy, Robert P. (2011) “How Federal Reserve Policies Add to Hard Times at the Pump.” Testimony submitted before the Subcommittee on Regulatory Affairs, Stimulus Oversight, and Government Spending, May 25, 2011.

Murphy, Robert P. (2008) Testimony submitted at House Financial Services Committee hearing entitled, “Implications of a Weaker Dollar for Oil Prices and the U.S. Economy,” July 24, 2008.


Murphy, Robert P. (2015) “New Study on ‘Unburnable’ Energy Belies Carbon Tax Rhetoric.” IER post, January 9, 2015.

Murphy, Robert P. (2014) “Prices Are Dropping, But Gas Is Still Historically Expensive.” IER post, December 17, 2014.

Murphy, Robert P. (2014) “The Oil Export Ban: Time to Unleash American Producers.” IER post, December 10, 2014.

Murphy, Robert P. (2014) “The Case for a Carbon Tax Is Much Weaker Than You Think.” IER post, December 1, 2014.

Murphy, Robert P. (2014) “Milton Friedman and Climate Change.” IER post, October 14, 2014.

Murphy, Robert P. (2014) “Australians Repeal Carbon Tax and CASE for Carbon Tax.” IER post, July 17, 2014.

Murphy, Robert P. (2014) “Power Plant Rule Fails Administration’s Own Cost/Benefit Test.” IER post, June 2, 2014.

Murphy, Robert P. (2014) “Are Climate Change Mitigation Policies a Form of Insurance?” IER post, April 17, 2014.

…plus 170+ articles at


Murphy, Robert P. (2016) “The Economics of Brexit.” Daily Caller, July 5, 2016.

Crowley, Brian Lee and Robert P. Murphy. (2012) “Compared to Canada, It’s a Fiscal Dip, Not Cliff.” Huffington Post Canada, December 29, 2012.

Murphy, Robert P. (2011) “The Tea Party should hold fast on debt ceiling.” Wall Street Journal’s MarketWatch, May 3, 2011.

Murphy, Robert P. (2010) “An ironic twist in fiscal policy.” Reuters, September 27, 2010.

Murphy, Robert P. (2010) “Double dip looks doubly certain.” MarketWatch, July 20, 2010.

Murphy, Robert P. (2010) “There’s no defense for the estate tax.” L.A. Times, July 14, 2010.

Murphy, Robert P. (2010 “Artificially low interest rates bad for the economy.” Detroit News, May 11, 2010.

Murphy, Robert P. (2010) “Setting the stage for stagflation.” The Washington Times, February 19, 2010.

Murphy, Robert P. (2008) “Designing the Market’s Mechanisms.”  Barron’s, May 12, 2008.

Hoskins, Lee and Robert P. Murphy. (2008) “Memo to the Fed: Stop Those Rate Cuts.”, March 17, 2008.

Murphy, Robert P. (2007) “Socialized Oil Can’t Replace Market Sense.”  Investor’s Business Daily, December 13, 2007.

Murphy, Robert P. (2007) “Can Free Markets Be Designed?”, November 15, 2007.


Principles of Microeconomics / Macroeconomics

Intermediate Microeconomics

Game Theory

History of Economic Thought I and II