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- Search found 11 items for:
- Monetary Theory
- Robert P. Murphy
- 2009
Mises Daily
Author:
Robert P. Murphy
Online Publish Date:
[An MP3 audio file of this article, read by Dr. Floy Lilley, is available for download .] In their zeal to oppose the lunacy of the so-called “stimulus” plan, many radio talk show hosts and other pundits have fallen into the Keynesian trap. Rather than the politicians spending nearly a trillion dollars, they argue, it would provide much more
Mises Daily
Author:
Robert P. Murphy
Online Publish Date:
For some reason, there are a lot of people out there who can’t stand the gold standard. Maybe their hostility is in reaction to the large (and growing) number of gold bugs who think the worst day in history was August 15, 1971 . But since I’m an economist, not a psychoanalyst, all I can really do is patiently explain how silly the antigold
Mises Daily
Author:
Robert P. Murphy
Online Publish Date:
When doing interviews for my new book on the Great Depression , a natural question comes up: will the present crisis turn out as bad as the 1930s? My standard answer is typical for an economist: “yes and no.” On the one hand, there were very specific reasons that unemployment broke 25 percent in 1933, and we don’t have those factors in place
Mises Daily
Author:
Robert P. Murphy
Online Publish Date:
“Romer’s historical account only makes sense if one has an a priori commitment to the remedial role of deficit spending.” Christina Romer, chair of the Council of Economic Advisers to President Obama, recently wrote an ode to Keynesian deficit spending as a method for curing severe recessions. Yet a simple glance at the big picture shows that the
Mises Daily
Author:
Robert P. Murphy
Online Publish Date:
Mike Shedlock, a.k.a. “Mish” We who are advocates of sound, free-market money need to get our story straight. Are we predicting hyperinflation or massive deflation? Personally, I am much more worried about the former problem . Using a recent article by Mish , I hope to show that no one has made a convincing case for falling prices. Mish’s Argument
Mises Daily
Author:
Robert P. Murphy
Online Publish Date:
I realize it must be difficult to maintain a constant barrage of “just breaking” financial news stories, but CNBC really puts out some doozies. Take for example a recent article titled, “Higher Savings Rate Is Great, But What About the Economy?” When the title itself is nonsense — why would high savings be great if they destroyed the economy? —
Mises Daily
Author:
Robert P. Murphy
Online Publish Date:
A few years ago on these pages , I harshly criticized an article urging New Yorkers to “eat local,” and went so far as to dub the young lady’s column, “The worst economics article ever.” I am here to report that her record has been smashed. Floyd Norris’s recent New York Times article on the greenback is hands down the worst economics article I
Mises Daily
Author:
Robert P. Murphy
Online Publish Date:
We economists have a reputation for being dry and boring. That’s why Ben Stein’s scene in Ferris Bueller’s Day Off works so well — and why this guy is such a novelty. Given our dismal reputation, I am happy to report that some economists’ recent defenses of the efficient-markets hypothesis are laugh-out-loud funny. Outside Cirque du Soleil, you
Mises Daily
Author:
Robert P. Murphy
Online Publish Date:
One of the more awkward situations facing Austrian economists today is that we are divided on whether to expect price deflation or inflation. Although it’s good that we publicly disagree with each other — rather than bury our disagreements to reassure the lay public that we know what we’re talking about — it’s nonetheless unsettling that our