Search Results for : ROBERT P. MURPHY


Socialism: The Calculation Problem Is Not the Knowledge Problem

Socialism: The Calculation Problem Is Not the Knowledge Problem

By Robert P. Murphy Mises Institute March 19, 2018   Socialism: The Calculation Problem Is Not the Knowledge Problem   At the Mises Institute’s upcoming Austrian Economics Research Conference (AERC), there will be a panel commemorating the 30thanniversary of the second debate over socialist calculation. This second debate began with Israel Kirzner’s 1988 Review of Austrian Economics article that analyzed the original debate […]


Santa Needs Prices

By Robert P. Murphy Foundation for Economic Education December 15, 2015   Santa Needs Prices Christmas, Calculation, and Chaos     A superficial observer might argue that Santa Claus has no relevance to economics, because in Santa’s world, there is no scarcity. But Santa, though magical, is not omnipotent. He faces constraints. First, Santa only delivers […]


There’s No Such Thing as Excessive Profits

By Robert P. Murphy Foundation for Economic Education October 23, 2015   There’s No Such Thing as Excessive Profits Problems with a “Fair Rate of Return”     If you want to do business in Venezuela, you will have to let the government do your bookkeeping to make sure you aren’t making too much. Venezuelan president Nicolás […]


Are Prisoners Who Make Low Wages Being Exploited?

By Robert P. Murphy Foundation for Economic Education September 24, 2015   Are Prisoners Who Make Low Wages Being Exploited? The Prison-Industrial Complex Pinches Rents from Prisoners       Over the summer, critics objected to Whole Foods’ participation in a program that used poorly paid prisoners to make expensive cheese for the grocery store’s upscale customers, […]


Capitalists Have a Better Plan

By ROBERT P. MURPHY Foundation for Economic Education August 19, 2015   Capitalists Have a Better Plan Why Decentralized Planning Is Superior to Bureaucracy and Socialism   (Image from Shutterstock)   To early 20th-century intellectuals, capitalism looked like anarchy. Why, they wondered, would we trust deliberative, conscious guidance when building a house but not when building […]


How Keynes Almost Prevented the Keynesian Revolution

By Mark Tovey Mises.org August 17, 2015   How Keynes Almost Prevented the Keynesian Revolution   October 30, 1929. A brisk autumn’s day in Manhattan. The Savoy-Plaza Hotel’s thirty-three stories cast a long shadow over Central Park. At the base of the hotel a financier lies freshly fallen, motionless, while his last breath, wrenched from […]


War Is No Excuse for Socialist Planning

By Robert P. Murphy Foundation for Economic Education July 31, 2015   War Is No Excuse for Socialist Planning Do We Need Government to Design a “War Economy”?     After the Soviet Union fell, just about everybody — except some humanities professors at Harvard — agreed that full-blown central planning was a bad way […]


3 Myths about “Tax Reform”

By ROBERT P. MURPHY Foundation for Economic Education January 28, 2015     3 Myths about “Tax Reform” How both Left and Right get it wrong   Conservative pundits are supposed to be hard-nosed and economically savvy, but when it comes to tax reform they can be as emotional and misguided as progressives. The question of […]

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Robert Murphy

Does Government Spending Boost the Economy?

By ROBERT P. MURPHY Foundation for Economic Education   Does Government Spending Boost the Economy?  Stimulus boosters assume their conclusions   A recent article in Business Insider by Jim Edwards offers putative “Proof That Government Spending Cuts Hurt Economic Growth.” He even goes so far as to claim that “war is good (economically).” In this […]


ChrisInMaryville Reads

Below are links to various sites that I read and recommend.  Some sites I may visit and read updates numerous times a day, some daily, some are read weekly and so on.  There is a wealth of information to read including a wide range of topics that I hope you will find both beneficial and […]


If Global Warming Is Killing Us, Why Is Global Life Expectancy Increasing?

If Global Warming Is Killing Us, Why Is Global Life Expectancy Increasing?

By Ryan McMaken Mises Institute February 6, 2019   If Global Warming Is Killing Us, Why Is Global Life Expectancy Increasing?   According to a recent report from the Centers for Disease Control (“Mortality in the United States, 2017“), “Life expectancy for the U.S. population declined to 78.6 years in 2017.” If accurate, a decline in […]