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Robert P.    Murphy

Robert Murphy is an associated scholar of the Mises Institute, where he teaches at the Mises Academy. He runs the blog Free Advice and is the author of The Politically Incorrect Guide to Capitalism, the Study Guide to "Man, Economy, and State with Power and Market," the "Human Action" Study Guide, The Politically Incorrect Guide to the Great Depression and the New Deal, and his newest book, Lessons for the Young Economist. Send him mail.

Media Feed for Robert P. Murphy


Top > Robert P. Murphy Author Archives

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Media File:AuthorCoAuthorDateFeed
Audio (.mp3, .wav, etc.) The Market for Security

Recorded at the Mises Institute in Auburn, Alabama, on 25 July 2014.

Robert P. Murphy Friday, July 25, 2014
Audio (.mp3, .wav, etc.) Energy Policy

Recorded at the Mises Institute in Auburn, Alabama, on 24 July 2014.

Robert P. Murphy Thursday, July 24, 2014
Audio (.mp3, .wav, etc.) Contrasting Views of the Great Depression

Recorded at the Mises Institute in Auburn, Alabama, on 23 July 2014.

Robert P. Murphy Wednesday, July 23, 2014
Audio (.mp3, .wav, etc.) Contemporary Challenges to Austrian Economics

Recorded at the Mises Institute in Auburn, Alabama, on 23 July 2014.

Robert P. Murphy Wednesday, July 23, 2014
Audio (.mp3, .wav, etc.) Private Defense?

Interviewed by host Tom Woods, Bob Murphy discusses why we don't, in fact, need Nancy Pelosi for anything.

Robert P. Murphy Thomas E. Woods, Jr. Wednesday, July 09, 2014
Audio (.mp3, .wav, etc.) Current Market Conditions: 21 Oct. 2008

Jeffrey Tucker interviews Bob Murphy via telephone. Recorded 21 October 2008.

Robert P. Murphy Tuesday, October 21, 2008
Audio (.mp3, .wav, etc.) Thomas Piketty Refuted

Interviewed by host Tom Woods, Bob Murphy demonstrates that the author of a book on capital doesn't seem to know any capital theory.

Robert P. Murphy Thomas E. Woods, Jr. Wednesday, May 21, 2014
Audio (.mp3, .wav, etc.) How the Government Wrecks the Economy

Interviewed by Merlin Rothfeld and John O'Donnell, Bob Murphy illustrates how government interference with the market economy leads to human misery.

Robert P. Murphy Monday, April 14, 2014
Windows Media Video (.wmv) Five Most Common Myths about International Trade

Robert P. Murphy Wednesday, November 22, 2006
Audio (.mp3, .wav, etc.) Introducing the Free Market

Interviewed by host Alan Butler, Bob Murphy talks about a course he is teaching entitled "Introduction to the Free Market" (http://academy.mises.org/courses/basics_market/).

Robert P. Murphy Wednesday, January 08, 2014
Audio (.mp3, .wav, etc.) Basics of Economics: Action and Exchange

Daniel Sanchez interviews Robert Murphy to discuss his upcoming online course, which consists of six lectures of economics instruction, starting from the ground up. This course is especially good for high schoolers and home schoolers. For more information, or to enroll, visit academy.mises.org.

Robert P. Murphy Dan Sanchez Friday, September 20, 2013
Audio (.mp3, .wav, etc.) Market for Security

Recorded at the Ludwig von Mises Institute in Auburn, Alabama, on 27 July 2013.

Robert P. Murphy Saturday, July 27, 2013
Audio (.mp3, .wav, etc.) The Problems with Keynesian Solutions to the Current Depression

Recorded at the Ludwig von Mises Institute in Auburn, Alabama, on 25 July 2013.

Robert P. Murphy Thursday, July 25, 2013
Audio (.mp3, .wav, etc.) Contrasting Views of the Great Depression

Recorded at the Ludwig von Mises Institute in Auburn, Alabama, on 24 July 2013.

Robert P. Murphy Wednesday, July 24, 2013
Audio (.mp3, .wav, etc.) My Time on the Battlefield

Recorded at the Ludwig von Mises Institute in Auburn, Alabama, on 24 July 2013.

Robert P. Murphy Wednesday, July 24, 2013
Windows Media Video (.wmv) Lessons for the Young Economist

This is the textbook Lessons for the Young Economist.


We are beyond mere excitement about Lessons for the Young Economist. It is easily the best introduction to economics for the young reader—because it covers both pure economic theory and also how markets work (the domain of most introductory books).

Robert Murphy has the right frame of mind and mastery of the subject matter to provide the best possible pedagogy. The logic is super clear. The organization is impeccable. It achieves a great balance between “plain old” economics and that aspect of economic thought that is considered particularly Austrian. Therefore, it prepares the student for both conventional economic studies in the future and provides the logical rigor and policy clarity that only the Austrian School perspective can offer.

Most of the attempts at such texts falter because they are either too dry and technical for the young reader or they are littered with attempts to keep the student entertained with references to pop culture or cheesy passages that attempt to “speak the child’s language” but only end up sounding patronizing.

Dr. Murphy’s text has none of this. The prose has relentless fire without needless fireworks. What drives it forward is intellectual passion born of his love of the topic. What’s also nice is that he is nowhere self-consciously trying to sound like someone he is not. It is his real voice, explaining everything point by point. For this reason, the text is warm and engaging.

Here is the product of vast experience and daily writing. This permits the voicing of the book to achieve a remarkable integration page to page, chapter to chapter. Though he is drawing from the whole history of the development of economics, the text ends up being strikingly original. His approach is not based on anything but his own sense of how to teach this subject.

This book will not be boring or useless even for people who think they already know the subject. Every page or two, there are fresh insights. For example, on the problems with barter, he shows that in the real world, most goods and services would not have come into existence at all (so that there would be no trading of tractors for cobbler services because there would be no tractors or repairable shoes). In another place, he points out that one of the advantages of the division of labor is that it makes the advantages of automation more readily apparent.

Maybe these points appear in other introductory texts but the way he works them into a logical and seamless system is very impressive. It has a much larger market than just high-school students. Anyone can enjoy this book and learn from it. The appropriate age here is probably 13 and up but any adult will love this book.

Murphy wrote the first study guides to Human Action and Man, Economy, and State. He can now add another medal to his chest. It is a big one. There is every reason to believe that this book will still have powerful legs decades from now.

As for the price, it is close to being a miracle for a textbook of this size and expanse. The conventional publishers of bad books at high prices don't stand a chance against this landmark.

Robert P. Murphy Wednesday, March 09, 2011
Audio (.mp3, .wav, etc.) The Value of Money

This lecture was presented on 22 February 2012 as part of Econ400: Mises on Money and Banking, sponsored by the Mises Academy. [1:25:35] PPT

Robert P. Murphy Thursday, March 01, 2012
Audio (.mp3, .wav, etc.) How the Private Bankers Are Using the Financial Crisis to Reshape World Government

Recorded in Houston, Texas, on 14 January 2012. [43:58]

Robert P. Murphy Thursday, January 19, 2012
Audio (.mp3, .wav, etc.) Contributions of Mises in The Theory of Money and Credit

Presented in Vienna, Austria, on 19 September 2011. Includes an introduction by Douglas E. French. [30:04]

Robert P. Murphy Friday, October 14, 2011
Audio (.mp3, .wav, etc.) Contributions of Mises and Rothbard to Economic Thought

Recorded 29 July 2011 in Auburn, Alabama. [57:14]

Robert P. Murphy Saturday, July 30, 2011
Audio (.mp3, .wav, etc.) The Market for Security

Recorded 28 July 2011 in Auburn, Alabama. [55:32]

Robert P. Murphy Saturday, July 30, 2011
Audio (.mp3, .wav, etc.) Contrasting Views of the Great Depression

Recorded 27 July 2011 in Auburn, Alabama. [57:07]

Robert P. Murphy Thursday, July 28, 2011
Audio (.mp3, .wav, etc.) The Core of What Economics Teaches

Hosted at the Mises Institute on 30 April 2010. Sponsored by Jeremy S. Davis.

Robert P. Murphy Friday, April 30, 2010
Audio (.mp3, .wav, etc.) Government Ag Policies: Harvesting Absurdities

The Mises Circle in Indianapolis. Sponsored by Weaver Popcorn Company. Recorded 14 May 2011. [30:28]

Robert P. Murphy Tuesday, May 17, 2011
Audio (.mp3, .wav, etc.) Unemployment: The 1930s and Today

Unemployment: The 1930s and Today Various Artists Will the Decline Continue?

Robert P. Murphy Monday, September 14, 2009
Windows Media Video (.wmv) Unemployment: The 1930s and Today

Unemployment: The 1930s and Today Various Artists Will the Decline Continue?

Robert P. Murphy Monday, September 14, 2009
Audio (.mp3, .wav, etc.) Does Bernanke Have an Exit Strategy?

Does Bernanke Have an Exit Strategy? Various Artists Depression, Monetary Destruction, and the Path to Sound Money

Robert P. Murphy Monday, October 05, 2009
Audio (.mp3, .wav, etc.) How Bernanke Is Using the Printing Press to Win Friends and Influence People

Phoenix, Arizona; 10 April 2010. Includes an introduction by Douglas E. French.

Robert P. Murphy Saturday, April 10, 2010
Windows Media Video (.wmv) How Bernanke Is Using the Printing Press to Win Friends and Influence People

Phoenix, Arizona; 10 April 2010. Includes an introduction by Douglas E. French.

Robert P. Murphy Saturday, April 10, 2010
Audio (.mp3, .wav, etc.) Only the Austrians Understand Interest Rates

The Mises Circle in Manhattan; 22 May 2010, New York, New York. [28:21]

Robert P. Murphy Saturday, May 22, 2010
Audio (.mp3, .wav, etc.) Recapitalizing the Banks but Decapitating the Economy

Recorded at the Ludwig von Mises Institute; Auburn, Alabama; 8 October 2010. [28:41]

Robert P. Murphy Friday, October 08, 2010
Audio (.mp3, .wav, etc.) The Division of Labor

Sponsored by Anastasia Thiele. Recorded at the Ludwig von Mises Institute on Friday, 19 November 2010. [34:21]

Robert P. Murphy Friday, November 19, 2010
Audio (.mp3, .wav, etc.) Bernanke and the Dollar

Recorded 4 December 2010 in Rochester, New York. [58:37]

Robert P. Murphy Monday, January 03, 2011
Audio (.mp3, .wav, etc.) The Failure of "Stimulus" Policies

Recorded 4 December 2010 in Rochester, New York. [47:24]

Robert P. Murphy Monday, January 03, 2011
Audio (.mp3, .wav, etc.) Great Myths of the Great Depression

Recorded 4 December 2010 in Rochester, New York. [42:52]

Robert P. Murphy Monday, January 03, 2011
Audio (.mp3, .wav, etc.) The Core of What Economics Teaches

The Core of What Economics Teaches Various Artists Economics for High School Students

Robert P. Murphy Friday, November 20, 2009
Windows Media Video (.wmv) The Core of What Economics Teaches

The Core of What Economics Teaches Various Artists Economics for High School Students

Robert P. Murphy Friday, November 20, 2009
Audio (.mp3, .wav, etc.) Scott Horton Interviews Robert P. Murphy

Recorded 21 October 2010. [20:10]

Robert P. Murphy Wednesday, October 27, 2010
Audio (.mp3, .wav, etc.) Protection and the Market for Security

How a free market in law enforcement and military defense could work. Recorded 30 July 2010 in Auburn, Alabama. [1:01:06]

Robert P. Murphy Friday, July 30, 2010
Audio (.mp3, .wav, etc.) The Austrian Response to Recent Critics

Responds to criticism of Austrian business cycle theory and “Puritan” policy recommendations. Recorded 29 July 2010 in Auburn, Alabama. [58:33]

Robert P. Murphy Thursday, July 29, 2010
Audio (.mp3, .wav, etc.) The Great Depression

Looks at causes of the 1929 crash and ensuing depression, with lessons for today. Recorded 28 July 2010 in Auburn, Alabama. [59:58]

Robert P. Murphy Wednesday, July 28, 2010
Audio (.mp3, .wav, etc.) Banking

Recorded 27 July 2010 in Auburn, Alabama. Includes an introduction by Mark Thornton. [1:00:45]

Robert P. Murphy Tuesday, July 27, 2010
Audio (.mp3, .wav, etc.) Capital and Interest

Recorded 26 July 2010 in Auburn, Alabama. Includes an introduction by Mark Thornton. [1:01:35]

Robert P. Murphy Monday, July 26, 2010
Audio (.mp3, .wav, etc.) The Curse of Machinery

The Curse of Machinery Various Artists Economics in One Lesson

Robert P. Murphy Thursday, October 02, 2008
Audio (.mp3, .wav, etc.) Austrian vs. Neoclassical Analytics

Austrian vs. Neoclassical Analytics Various Artists Mises University 2009

Robert P. Murphy Friday, July 31, 2009
Windows Media Video (.wmv) Austrian vs. Neoclassical Analytics

Austrian vs. Neoclassical Analytics Various Artists Mises University 2009

Robert P. Murphy Friday, July 31, 2009
Audio (.mp3, .wav, etc.) How Politicians and Citizens Should Deal with Depression

How Politicians and Citizens Should Deal with Depression Various Artists Recovery or Stagnation?

Robert P. Murphy Monday, August 31, 2009
Windows Media Video (.wmv) How Politicians and Citizens Should Deal with Depression

How Politicians and Citizens Should Deal with Depression Various Artists Recovery or Stagnation?

Robert P. Murphy Monday, August 31, 2009
Audio (.mp3, .wav, etc.) How the Fed is Retarding Recovery

How the Fed is Retarding Recovery Various Artists Economic Downturn: Cause and Cure

Robert P. Murphy Monday, November 16, 2009
Windows Media Video (.wmv) How the Fed is Retarding Recovery

How the Fed is Retarding Recovery Various Artists Economic Downturn: Cause and Cure

Robert P. Murphy Monday, November 16, 2009
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