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{{short description|American economist}}{{For|other people named Bob Murphy|Robert Murphy (disambiguation){{!}}Robert Murphy}}{{BLP primary sources|date=March 2014}}
{{other persons|Robert Murphy}}
{{Use mdy dates|date=October 2022}}
{{Infobox economist {{Infobox economist
| name = Robert P. Murphy | name = Bob Murphy
| school_tradition = ] | school_tradition = ]
| color = firebrick | image = Robert Murphy (3x4 cropped).jpg
| image = Robert P. Murphy Head Shot 1.jpg | caption = Murphy at the 2017 Mises Circle
| image_size = 140px
| caption =
| birth_date = {{birth date and age|1976|05|23}} | birth_date = {{birth date and age|1976|05|23}}
| birth_place = | birth_place =
| death_date = | death_date =
| death_place = | death_place =
⚫ | institution = Free Market Institute of ]<br /><small>(2014–present)</small><br />]<br /><small>(2013–present)</small><br />]<br /><small>(2007–present)</small><br />]<br /><small>(2003–2006)</small> <br />]<br /><small>(2003–present)</small>
| nationality = ]
⚫ | institution = ]<br><small>(2007–present)</small><br>]<br><small>(2007–present)</small><br>]<br><small>(2003–2006)</small>
| field = ], ] | field = ], ]
| website = {{URL|https://consultingbyrpm.com/}} {{URL|https://bobmurphyshow.com/}}
| alma_mater = ] <small>(]) 2003</small><br> ] <small>(]) 1998</small>
| influences = ], ], ] | influences = ], ], ], ], ], ], ]
| influenced = | influenced =
| contributions = | contributions =
| awards = | awards =
| signature = <!-- file name only --> | signature = <!-- file name only -->
| repec_prefix = | repec_id = | repec_prefix =
| repec_id =
| doctoral_advisor = ]<ref>{{Cite web |last=Clay |date=2010-04-06 |title=Faculty Spotlight Interview: Robert Murphy |url=https://mises.org/wire/faculty-spotlight-interview-robert-murphy |access-date=2020-08-04 |website=Mises Institute |language=en |archive-date=2020-09-25 |archive-url=https://web.archive.org/web/20200925235826/https://mises.org/wire/faculty-spotlight-interview-robert-murphy |url-status=live}}</ref>
}}
|education=] (])<br />] (])}}


'''Robert P.''' "'''Bob'''" '''Murphy''' (born 23 May 1976) is an ] and economist. Murphy is an adjunct scholar at the ] and an economist for the ].<ref></ref> '''Robert Patrick Murphy''' (born May 23, 1976) is an American economist. Murphy is research assistant professor with the Free Market Institute at ]. He has been affiliated with ], the ], the ] (IER), the ], the ], and the ].


==Education, personal life and career== ==Education==
Murphy received his Bachelor of Arts in economics at ] in 1998 and his Ph.D. in economics at ] in 2003. From 2003 until 2006, Murphy was Visiting Assistant Professor of ] at ]. From 2006 until early 2007, he was employed with ].<ref>Glazov, James. "The Politically Incorrect Guide to Capitalism." Interview with Robert Murphy. '']''. 18 April 2007. </ref><ref>"Excerpts: Free & Natural." '']''. 25 March 2007. </ref> Murphy received a BA in economics at ] in 1998 and a Ph.D. in economics at ] in 2003.<ref>{{Cite web |title=Robert P. Murphy, Author at IER |url=https://www.instituteforenergyresearch.org/about/robert-murphy/ |access-date=2020-08-04 |website=IER |language=en-US |archive-date=2020-08-15 |archive-url=https://web.archive.org/web/20200815002459/https://www.instituteforenergyresearch.org/about/robert-murphy/ |url-status=live}}</ref>


==Career==
In 2010, unnamed promoters established a website which claims to have raised $105,000 to be donated to a charity in the event that Nobel laureate economist ] debates Robert Murphy on ].<ref>{{cite news|last=Carney|first=John|title=Will Paul Krugman be Shamed Into Debating an Austrian Economics Wunderkind?|url=http://www.cnbc.com/id/39832879|accessdate=19 April 2013|newspaper=CNBC website|date=Oct 25,2010}}.</ref>
Murphy is research assistant professor with the Free Market Institute at Texas Tech University.<ref>{{Cite web |url=https://mises.org/profile/robert-p-murphy |title=Robert P. Murphy |date=2014-06-20 |website=Mises Institute |language=en |access-date=2019-07-22 |archive-date=2019-08-08 |archive-url=https://web.archive.org/web/20190808201734/https://mises.org/profile/robert-p-murphy |url-status=live}}</ref> He has been a visiting assistant professor at Hillsdale College, and a visiting scholar at New York University. He has been affiliated with Laffer Associates, the Pacific Research Institute,<ref>{{Cite web |url=https://www.depts.ttu.edu/freemarketinstitute/people/murphy.php |title=Free Market Institute – Our People – Robert Murphy, Ph.D. |last=University |first=State of Texas and Texas Tech |website=www.depts.ttu.edu |access-date=2016-09-23 |archive-date=2016-09-24 |archive-url=https://web.archive.org/web/20160924100534/https://www.depts.ttu.edu/freemarketinstitute/people/murphy.php |url-status=live}}</ref> the ] (IER) as the senior economist focusing on climate change,<ref name="IERprofile"> {{Webarchive|url=https://web.archive.org/web/20130810233357/http://www.instituteforenergyresearch.org/scholars/robert-p-murphy/ |date=2013-08-10 }}, ], ''accessed December 9, 2013'',</ref> the ],<ref name="II-profile"> {{Webarchive|url=https://web.archive.org/web/20131214112810/http://www.independent.org/aboutus/person_detail.asp?id=1114 |date=2013-12-14 }}, ], ''accessed December 5, 2013.''</ref> the ],<ref name="Robert P. Murphy profile"> {{Webarchive|url=https://web.archive.org/web/20140914004059/https://mises.org/daily/author/380 |date=2014-09-14 }} at ], ''accessed December 5, 2013.''</ref> and the ] in Canada.<ref name=":3">{{Cite web |url=https://www.fraserinstitute.org/content/dr-robert-p-murphy |title=Robert P. Murphy |access-date=2016-09-23 |archive-date=2016-09-24 |archive-url=https://web.archive.org/web/20160924110223/https://www.fraserinstitute.org/content/dr-robert-p-murphy |url-status=live}}</ref>


Murphy has written books such as ''Choice: Cooperation, Enterprise, and Human Action'' (Independent Institute, 2015),<ref name=":1">{{Cite web |url=https://www.depts.ttu.edu/freemarketinstitute/people/murphy.php |title=Free Market Institute - Our People - Robert Murphy, Ph.D. &#124; Free Market Institute &#124; TTU |access-date=2016-09-24 |archive-date=2016-09-24 |archive-url=https://web.archive.org/web/20160924100534/https://www.depts.ttu.edu/freemarketinstitute/people/murphy.php |url-status=live}}</ref> ''Primal Prescription'' with Doug McGuff, MD regarding healthcare in the United States,<ref>{{Cite web |url=http://www.primalblueprintpublishing.com/books/the-primal-prescription/ |title=The Primal Prescription |date=2015-05-21 |language=en-US |access-date=2016-09-23 |archive-date=2016-08-26 |archive-url=https://web.archive.org/web/20160826203811/http://www.primalblueprintpublishing.com/books/the-primal-prescription/ |url-status=live}}</ref> and ''Lessons for the Young Economist'' (Mises Institute 2010).<ref>{{Cite web |url=https://mises.org/library/lessons-young-economist |title=Lessons for the Young Economist |date=2014-08-06 |access-date=2016-09-23 |archive-date=2016-09-24 |archive-url=https://web.archive.org/web/20160924111717/https://mises.org/library/lessons-young-economist |url-status=live}}</ref> He has written study guides to works of ] and ].<ref name="IERprofile" /> Murphy authored the 2007 book '']''. Murphy's book, ''The Politically Incorrect Guide to the Great Depression and the New Deal'', published in 2009, blamed the Depression on government policies.<ref>Raymond J. Keating, {{Webarchive|url=https://web.archive.org/web/20140113203351/http://www.fee.org/the_freeman/detail/the-politically-incorrect-guide-to-the-great-depression-and-the-new-deal |date=2014-01-13 }}", '']'', December 22, 2010.</ref>{{primary source inline|date=December 2021}}
==Condemnation of government and the state==
]
] adjunct Robert Roughsedge in 2009 at a Suffolk Law Federalist Society event.]]
Murphy has called the ] "a monopoly institution of violence."<ref name="Mises Private Law">{{cite web|last=Murphy|first=Robert|title=The Possibility of Private Law|url=http://www.mises.org/daily/1874|work=Mises Daily|publisher=Mises Institute|accessdate=19 April 2013}}</ref> and has stated that he advocates privatization of the legal system, although he denies that "any 'law' that passes the profit-and-loss test is a good one."<ref name="mises" /> In a 2007 interview, he stated: "Many leftists are cynical, bitter people. They have a natural distrust of success. And since the capitalist system undeniably works – and moreover, it works precisely by harnessing the self-interest of people – then its very essence is offensive to these people."<ref name=Glazov>{{cite web|last=Glazov|first=Jamie|title=The Politically Incorrect Guide to Capitalism|url=http://archive.frontpagemag.com/readArticle.aspx?ARTID=26167|publisher=FrontPage Magazine|accessdate=19 April 2013}}</ref>


===Erroneous inflation predictions===
Also in 2007, Murphy discussed slavery in the antebellum U.S. South:
Murphy has been criticized by economists ] and ] for predicting that the ] practiced by the ] in the late 2000s would create double-digit inflation and economic ruin by 2013, and notes that he lost the bet.<ref name="Killing the Currency">Robert P. Murphy, {{Webarchive|url=https://web.archive.org/web/20130630080146/http://www.theamericanconservative.com/articles/killing-the-currency/ |date=2013-06-30 }}, ], December 10, 2009.</ref><ref name="Reason">{{Cite web |url=https://reason.com/archives/2014/11/30/whatever-happened-to-inflation/singlepage |title=Reason |date=November 30, 2014 |access-date=2016-01-05 |archive-date=2015-09-06 |archive-url=https://web.archive.org/web/20150906072910/http://reason.com/archives/2014/11/30/whatever-happened-to-inflation/singlepage |url-status=live}}</ref>
{{quote|So in a truly free market – even if it started out with some people classified as the "property" of other people – there would be tremendous incentives for the slaves to buy their freedom from their masters. Don't get me wrong, that would be horribly unfair and they shouldn't have to do that in the first place, but nonetheless widespread slavery wouldn't persist if the rest of the economy were a free market.... Yet that's not what happened historically. Indeed, there were all sorts of government interventions that propped up the "peculiar institution." Just a few examples: (1) mandatory slave patrols, in which the local governments forced non-slave owners to defray the costs of the institution, (2) laws against educating slaves, and (3) laws curtailing manumission, i.e. the practice of freeing one's slaves (often in one's will).... So as these two examples demonstrate, the popular historical accounts of the antebellum South and the 1930s get things exactly backwards. It was government intervention in voluntary, private affairs that propped up slavery and led to the Great Depression.<ref name=Glazov />}}


In 2013 Murphy challenged Krugman to a debate and unnamed supporters of Murphy promised to donate $100,000 to a charity if Krugman would debate Murphy on economic policy issues.<ref>{{cite news |last=Carney |first=John |title=Will Paul Krugman be Shamed Into Debating an Austrian Economics Wunderkind? |url=https://www.cnbc.com/2010/10/25/will-paul-krugman-be-shamed-into-debating-an-austrian-economics-wunderkind.html |access-date=April 19, 2013 |newspaper=CNBC website |date=October 25, 2010 |archive-date=June 24, 2013 |archive-url=https://web.archive.org/web/20130624002310/http://www.cnbc.com/id/39832879 |url-status=live}}</ref> A promotional website was established for the challenge. In response to a radio show caller, Krugman rejected the proposed debate, saying that the subject “is not something to be settled by public circuses" and added, "Why should I dignify that totally-wrong doctrine — that doctrine that's gotten everything wrong — by giving them a platform?", pointing to the erroneous inflation predictions.<ref>Lehrer, Brian (June 4, 2012). {{Webarchive|url=https://web.archive.org/web/20140203201903/http://www.wnyc.org/story/213836-paul-krugman-weighs/ |date=2014-02-03 }}</ref>{{efn|Exchange occurs at the 20:30 mark in the episode.}}<ref>{{Cite web |url=http://www.krugmandebate.com/ |title=Krugmandebate.com |access-date=2013-04-20 |archive-date=2013-05-12 |archive-url=https://web.archive.org/web/20130512090127/http://krugmandebate.com/ |url-status=live}}</ref>
==Inflation prediction==

In the context of his 2009 piece arguing that the current economic crisis may compel the US Dollar to be abandoned entirely by the end of the ], (to be replaced by the ] or some other currency "issued by a supranational organization") Murphy urged investors to purchase an "emergency stockpile" of physical gold and silver, and predicted double-digit inflation.<ref>http://www.theamericanconservative.com/articles/killing-the-currency/</ref>
==Religious views==
Murphy is a ], and has stated in his writings that "my ethical beliefs are informed by my Christian faith, and I am a firm believer in ]".<ref>{{Cite web |url=https://www.mises.org/story/1874 |title=Murphy, Robert P. "The Possibility of Private Law." ''Mises.org''. 3 August 2005. |date=July 22, 2005 |access-date=September 13, 2014 |archive-date=January 30, 2009 |archive-url=https://web.archive.org/web/20090130022246/http://www.mises.org/story/1874 |url-status=live}}</ref>


==Books== ==Books==
* '''' (2002) – A short work composed of two essays on ]; one discussing the production of defense services, and one describing the provision of private criminal and civil justice. * '''' (2002) – Two essays on ]; one discussing the production of defense services, and the other describing the provision of private criminal and civil justice.
* '']'' (April 2007) – A volume in '']'' series published by ]. * '']'' (2007) – A volume in '']'' series published by ]. {{ISBN|978-1596985049}} {{OCLC|79860752}}
* ''The Politically Incorrect Guide to the Great Depression and the New Deal'' (April 2009) * ''The Politically Incorrect Guide to the Great Depression and the New Deal'' (2009). {{ISBN|978-1596980969}} {{OCLC|315239348}}
* ''Lessons for the Young Economist'' (2010) – available at . {{ISBN|978-1933550886}} {{OCLC|681711737}}
* '''' (2010)
* {{cite book |title=Contra Krugman: Smashing the Errors of America's Most Famous Keynesian |author=Murphy, Robert P. |others=] (foreword); ] (preface) |year=2018 |isbn=978-1722331795}}
* ''How Privatized Banking Really Works – Integrating Austrian Economics with the Infinite Banking Concept'' (2010) co-written with L. Carlos Lara


==Notes== ==Notes==
{{reflist|2}} {{notelist}}

==References==
{{reflist}}


==External links== ==External links==
* *
* Robert Murphy at ] *
* Robert P. Murphy at ]:
**
* Robert P. Murphy at ]: , ,
**
* {{C-SPAN|1024976}}
**
* ] via Way Back Machine]
* discussing Murphy's ''Politically Incorrect Guide to Capitalism'' with ]
* by ] of Murphy's ''Politically Incorrect Guide to Capitalism''
* In Studio: "Lessons for the Young Economist" interview with Robert P. Murphy, November 2010 <small>()</small>


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| ALTERNATIVE NAMES =Austrian School economist
| SHORT DESCRIPTION =
| DATE OF BIRTH =23 May 1976
| PLACE OF BIRTH =
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{{DEFAULTSORT:Murphy, Robert P.}} {{DEFAULTSORT:Murphy, Robert P.}}
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Latest revision as of 21:29, 30 December 2024

American economistFor other people named Bob Murphy, see Robert Murphy.
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Bob Murphy
Murphy at the 2017 Mises Circle
Born (1976-05-23) May 23, 1976 (age 48)
EducationHillsdale College (BA)
New York University (PhD)
Academic career
FieldFinancial Economics, Trade
InstitutionFree Market Institute of Texas Tech University
(2014–present)
Fraser Institute
(2013–present)
Pacific Research Institute
(2007–present)
Hillsdale College
(2003–2006)
Ludwig Von Mises Institute
(2003–present)
School or
tradition		Austrian School
Doctoral
advisor		Mario J. Rizzo
InfluencesMurray Rothbard, Ludwig von Mises, Eugen Böhm von Bawerk, Hans-Hermann Hoppe, Joseph Salerno, Israel Kirzner, Richard Ebeling
Websiteconsultingbyrpm.com bobmurphyshow.com

Robert Patrick Murphy (born May 23, 1976) is an American economist. Murphy is research assistant professor with the Free Market Institute at Texas Tech University. He has been affiliated with Laffer Associates, the Pacific Research Institute, the Institute for Energy Research (IER), the Independent Institute, the Ludwig von Mises Institute, and the Fraser Institute.

Education

Murphy received a BA in economics at Hillsdale College in 1998 and a Ph.D. in economics at New York University in 2003.

Career

Murphy is research assistant professor with the Free Market Institute at Texas Tech University. He has been a visiting assistant professor at Hillsdale College, and a visiting scholar at New York University. He has been affiliated with Laffer Associates, the Pacific Research Institute, the Institute for Energy Research (IER) as the senior economist focusing on climate change, the Independent Institute, the Ludwig von Mises Institute, and the Fraser Institute in Canada.

Murphy has written books such as Choice: Cooperation, Enterprise, and Human Action (Independent Institute, 2015), Primal Prescription with Doug McGuff, MD regarding healthcare in the United States, and Lessons for the Young Economist (Mises Institute 2010). He has written study guides to works of Ludwig von Mises and Murray Rothbard. Murphy authored the 2007 book The Politically Incorrect Guide to Capitalism. Murphy's book, The Politically Incorrect Guide to the Great Depression and the New Deal, published in 2009, blamed the Depression on government policies.

Erroneous inflation predictions

Murphy has been criticized by economists Brad DeLong and Paul Krugman for predicting that the quantitative easing practiced by the Federal Reserve in the late 2000s would create double-digit inflation and economic ruin by 2013, and notes that he lost the bet.

In 2013 Murphy challenged Krugman to a debate and unnamed supporters of Murphy promised to donate $100,000 to a charity if Krugman would debate Murphy on economic policy issues. A promotional website was established for the challenge. In response to a radio show caller, Krugman rejected the proposed debate, saying that the subject “is not something to be settled by public circuses" and added, "Why should I dignify that totally-wrong doctrine — that doctrine that's gotten everything wrong — by giving them a platform?", pointing to the erroneous inflation predictions.

Religious views

Murphy is a Christian, and has stated in his writings that "my ethical beliefs are informed by my Christian faith, and I am a firm believer in natural law".

Books

Notes

  1. Exchange occurs at the 20:30 mark in the episode.

References

  1. Clay (April 6, 2010). "Faculty Spotlight Interview: Robert Murphy". Mises Institute. Archived from the original on September 25, 2020. Retrieved August 4, 2020.
  2. "Robert P. Murphy, Author at IER". IER. Archived from the original on August 15, 2020. Retrieved August 4, 2020.
  3. "Robert P. Murphy". Mises Institute. June 20, 2014. Archived from the original on August 8, 2019. Retrieved July 22, 2019.
  4. University, State of Texas and Texas Tech. "Free Market Institute – Our People – Robert Murphy, Ph.D." www.depts.ttu.edu. Archived from the original on September 24, 2016. Retrieved September 23, 2016.
  5. ^ Robert P. Murphy profile Archived 2013-08-10 at the Wayback Machine, Institute for Energy Research, accessed December 9, 2013,
  6. Robert P. Murphy profile Archived 2013-12-14 at the Wayback Machine, Independent Institute, accessed December 5, 2013.
  7. Robert P. Murphy profile Archived 2014-09-14 at the Wayback Machine at Ludwig von Mises Institute, accessed December 5, 2013.
  8. "Robert P. Murphy". Archived from the original on September 24, 2016. Retrieved September 23, 2016.
  9. "Free Market Institute - Our People - Robert Murphy, Ph.D. | Free Market Institute | TTU". Archived from the original on September 24, 2016. Retrieved September 24, 2016.
  10. "The Primal Prescription". May 21, 2015. Archived from the original on August 26, 2016. Retrieved September 23, 2016.
  11. "Lessons for the Young Economist". August 6, 2014. Archived from the original on September 24, 2016. Retrieved September 23, 2016.
  12. Raymond J. Keating, "Book review: The Politically Incorrect Guide to the Great Depression and the New Deal Archived 2014-01-13 at the Wayback Machine", The Freeman, December 22, 2010.
  13. Robert P. Murphy, "Killing the Currency" Archived 2013-06-30 at the Wayback Machine, The American Conservative, December 10, 2009.
  14. "Reason". November 30, 2014. Archived from the original on September 6, 2015. Retrieved January 5, 2016.
  15. Carney, John (October 25, 2010). "Will Paul Krugman be Shamed Into Debating an Austrian Economics Wunderkind?". CNBC website. Archived from the original on June 24, 2013. Retrieved April 19, 2013.
  16. Lehrer, Brian (June 4, 2012). "The Brian Lehrer Show: Paul Krugman Weighs In." Archived 2014-02-03 at the Wayback Machine
  17. "Krugmandebate.com". Archived from the original on May 12, 2013. Retrieved April 20, 2013.
  18. "Murphy, Robert P. "The Possibility of Private Law." Mises.org. 3 August 2005". July 22, 2005. Archived from the original on January 30, 2009. Retrieved September 13, 2014.

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