Robert Murphy Archive

Robert P. Murphy is a Research Fellow at the Independent Institute, Research Assistant Professor with the Free Market Institute at Texas Tech University, Senior Economist with the Institute for Energy Research, and Associated Scholar with the Ludwig von Mises Institute. He is the author of the Independent book, Choice: Cooperation, Enterprise, and Human Action.
Full Biography and Recent Publications

Ryan Gosling’s Shorts



The new film “The Big Short”–based on the book by Michael Lewis–achieves what I would’ve thought impossible: it makes an American audience root for speculators hoping to make millions betting against the U.S. economy. Ryan Gosling, Christian Bale, Brad Pitt, and Steve Carell are the Hollywood stars portraying the real-life people who had realized...
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Shiller’s Irrational Faith in Government Regulation



In a recent New York Times piece, economist Robert Shiller built an argument that was a non sequitur resting on two false premises. Specifically, Shiller argued: (Premise 1:) Economics courses teach students that market outcomes are “Pareto optimal.” (Premise 2:) In reality, market forces lead to systematic deception and manipulation of the public. (Conclusion:)...
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We Need Free Enterprise in Banking



Former House Speaker Dennis Hastert has pleaded guilty in what has been called a “hush-money” case. Hastert could receive up to five years in prison, though prosecutors have recommended six months as part of his plea deal. The amazing thing about this case is that such a harsh sentence comes not from any misconduct...
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Celebrating Human Action—Ludwig von Mises’s Masterpiece



September 14 marked the 65th anniversary of the publication of Ludwig von Mises’s masterpiece Human Action. I have been studying Mises’s classic text very carefully the past two years, as I’ve completed the manuscript for a forthcoming Independent Institute book, Cooperation and Enterprise: The Economics of Choice, that crystallizes the essence of Human Action...
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