Robert P. Murphy Explained

Robert P. Murphy
School Tradition:Austrian School
Birth Date:23 May 1976
Institution:Free 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)
Field:Financial Economics, Trade
Influences:Murray Rothbard, Ludwig von Mises, Eugen Böhm von Bawerk, Hans-Hermann Hoppe, Joseph Salerno, Israel Kirzner, Richard Ebeling
Doctoral Advisor:Mario J. Rizzo[1]
Education:Hillsdale College (BA)
New York University (PhD)

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.[2]

Career

Murphy is research assistant professor with the Free Market Institute at Texas Tech University.[3] 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,[4] the Institute for Energy Research (IER) as the senior economist focusing on climate change,[5] the Independent Institute,[6] the Ludwig von Mises Institute,[7] and the Fraser Institute in Canada.[8] He is the president of Consulting By RPM. In September 2021 Murphy was ranked as the 11th most influential person in economics[9] by Academic Influence which uses "artificial intelligence to measure impact by academics and institutions."[10]

Murphy has written books such as Choice: Cooperation, Enterprise, and Human Action (Independent Institute, 2015),[11] Primal Prescription with Doug McGuff, MD regarding healthcare in the United States,[12] and Lessons for the Young Economist (Mises Institute 2010).[13] 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.[14]

Additionally, Murphy has written for The Washington Times,[15] Forbes[16] and Barron's Magazine.[17] Murphy's writings have also been published in The American Journal of Economics and Sociology, The Review of Austrian Economics, the Quarterly Journal of Austrian Economics[18] and the Journal of Private Enterprise.[19] He has written for The Freeman,[20] The American Conservative,[21] LewRockwell.com[22] Townhall.com[23] and Antiwar.com.[24]

Murphy was ranked as the 14th most influential economist since 1990 by Academic Influence.[25]

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.[26] [27]

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.[28] 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.[29] [30]

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".[31]

Books

External links

Notes and References

  1. Web site: Clay . 2010-04-06 . Faculty Spotlight Interview: Robert Murphy . 2020-08-04 . Mises Institute . en . 2020-09-25 . https://web.archive.org/web/20200925235826/https://mises.org/wire/faculty-spotlight-interview-robert-murphy . live.
  2. Web site: Robert P. Murphy, Author at IER . 2020-08-04 . IER . en-US . 2020-08-15 . https://web.archive.org/web/20200815002459/https://www.instituteforenergyresearch.org/about/robert-murphy/ . live.
  3. Web site: Robert P. Murphy . 2014-06-20 . Mises Institute . en . 2019-07-22 . 2019-08-08 . https://web.archive.org/web/20190808201734/https://mises.org/profile/robert-p-murphy . live.
  4. Web site: Free Market Institute – Our People – Robert Murphy, Ph.D. . University . State of Texas and Texas Tech . www.depts.ttu.edu . 2016-09-23 . 2016-09-24 . https://web.archive.org/web/20160924100534/https://www.depts.ttu.edu/freemarketinstitute/people/murphy.php . live.
  5. http://www.instituteforenergyresearch.org/scholars/robert-p-murphy/ Robert P. Murphy profile
  6. http://www.independent.org/aboutus/person_detail.asp?id=1114 Robert P. Murphy profile
  7. https://mises.org/daily/author/380 Robert P. Murphy profile
  8. Web site: Robert P. Murphy . 2016-09-23 . 2016-09-24 . https://web.archive.org/web/20160924110223/https://www.fraserinstitute.org/content/dr-robert-p-murphy . live.
  9. Web site: List of the most influential people in Economics, for the years 1990 – 2020 . AcademicInfluence.com . 2021-09-07.
  10. Web site: New Ranking System: Swarthmore, Amherst Top The 50 Best Liberal Arts Colleges . Michael T. Nietzel . 2021-01-27 . Forbes.com . 2021-09-07.
  11. Web site: Free Market Institute - Our People - Robert Murphy, Ph.D. | Free Market Institute | TTU . 2016-09-24 . 2016-09-24 . https://web.archive.org/web/20160924100534/https://www.depts.ttu.edu/freemarketinstitute/people/murphy.php . live.
  12. Web site: The Primal Prescription . 2015-05-21 . en-US . 2016-09-23 . 2016-08-26 . https://web.archive.org/web/20160826203811/http://www.primalblueprintpublishing.com/books/the-primal-prescription/ . live.
  13. Web site: Lessons for the Young Economist . 2014-08-06 . 2016-09-23 . 2016-09-24 . https://web.archive.org/web/20160924111717/https://mises.org/library/lessons-young-economist . live.
  14. Raymond J. Keating, "Book review: The Politically Incorrect Guide to the Great Depression and the New Deal ", The Freeman, December 22, 2010.
  15. Robert P. Murphy, Are Real Economists Bears? The Washington Times, February 19, 2010, .
  16. Robert P. Murphy, Memo To The Fed: Stop Those Rate Cuts, Forbes, March 16, 2008.
  17. Robert P. Murphy, Capitalism is validated by "mechanism-design" theory, Barron's Magazine, May 12, 2008
  18. http://consultingbyrpm.com/resumecv Resumé/CV
  19. Robert P. Murphy, Coordination: A Critique of Daniel Klein, The Journal of Private Enterprise, 25(2), 2010, 117–127 (117).
  20. http://www.fee.org/authors/the_freeman/robert-p-murphy#axzz2mqwsDsM0 Robert P. Murphy archives
  21. http://www.theamericanconservative.com/author/robert-p-murphy/ Robert P. Murphy archives
  22. http://archive.lewrockwell.com/murphy/murphy-arch.html Robert P. Murphy archives
  23. http://www.townhall.com/columnists/RobertMurphy/ Robert Murphy columns archive
  24. https://original.antiwar.com/author/robert_murphy/ Robert Murphy column archive
  25. Web site: Robert P. Murphy . 2021-09-29 . Academic Influence . en . 2021-09-29.
  26. Robert P. Murphy, "Killing the Currency", The American Conservative, December 10, 2009.
  27. Web site: Reason . November 30, 2014 . 2016-01-05 . 2015-09-06 . https://web.archive.org/web/20150906072910/http://reason.com/archives/2014/11/30/whatever-happened-to-inflation/singlepage . live.
  28. News: Carney . John . Will Paul Krugman be Shamed Into Debating an Austrian Economics Wunderkind? . April 19, 2013 . CNBC website . October 25, 2010 . June 24, 2013 . https://web.archive.org/web/20130624002310/http://www.cnbc.com/id/39832879 . live.
  29. Lehrer, Brian (June 4, 2012). "The Brian Lehrer Show: Paul Krugman Weighs In."
  30. Web site: Krugmandebate.com . 2013-04-20 . 2013-05-12 . https://web.archive.org/web/20130512090127/http://krugmandebate.com/ . live.
  31. Web site: Murphy, Robert P. "The Possibility of Private Law." Mises.org. 3 August 2005. . July 22, 2005 . September 13, 2014 . January 30, 2009 . https://web.archive.org/web/20090130022246/http://www.mises.org/story/1874 . live.

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