Posts by Robert P. Murphy
Robert P. Murphy is a Research Fellow at the Independent Institute and author of the Independent book, Choice.
Do Migrants Drain Wealth from America When They Send Money Home?


The reason it seems as if sending dollars out of the U.S. makes America poorer is that we individually consider cash as part of our wealth holdings.

What Bitcoin Taught the Public and Economists


Bitcoin demonstrates that private currency is possible.

Three Surprises About Nobel Laureate Nordhaus’s Model of Climate Change


A deeper look at the work of this year’s Nobel Prize in Economic Science recipient.

Do Food Stamps Reduce Corporate Labor Costs?


Amazon, Walmart, and other corporate behemoths often use their wealth to get special favors from the government. However, they should be acquitted of the specific charge that they offload their labor costs to taxpayers through SNAP and other welfare programs.

Lehman Brothers and the 2008 Financial Panic: Learning the Right Lessons


The U.S. government and Federal Reserve caused the crisis, and since 2008 their actions have set us up for an even bigger calamity.

Free Traders Should Be More Careful When Defending Trade Deficits


America’s trade deficit with China should not be viewed as “getting more for less.”

Three Times Interventionists Moved the Goalposts, Part 3


Part 3 of 3 In previous Beacon posts (here and here) I explained that interventionists had often “moved the goalposts” in policy debates in which I’d participated. I first recounted an episode where Paul Krugman had moved the goalposts in a dispute over so-called fiscal austerity, and then I discussed the phenomenon in the...
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Three Times Interventionists Moved the Goalposts, Part 2


Part 2 of 3 In a previous Beacon post, I explained that interventionists had often “moved the goalposts” in policy debates in which I’d participated. I specifically recounted an episode where Paul Krugman had moved the goalposts in a dispute over so-called fiscal austerity. In the present post, I’ll focus on an example from...
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Three Times Interventionists Moved the Goalposts, Part 1


Part 1 of 3 One of the most frustrating things in debate is when you decisively win the initial point of contention, only to have your opponent “move the goalpost” to a different claim. To be sure, this is a human failing, not unique to any particular political perspective. I’m sure I myself do...
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Reflections on Donald Trump’s Election


As the markets and pundits react to Donald Trump’s enormous upset victory, let me offer my own reactions. As an economist, I will focus on matters pertaining to economic policy. The Danger of Hubris and Denial. Everybody recognizes that the “experts” and polls were totally wrong. Indeed, I was listening to NPR around 6...
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