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Bob Murphy Show

The podcast promoting free markets, free minds, and grateful souls.

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Ep. 112 Commentary on the Politics and Economics of the Coronavirus Response

Bob comments on various aspects of the response to the coronavirus. Although many libertarians are accusing the authorities of exaggerating the threat, it would also be a "libertarian take" to accuse them of downplaying the threat early on, misleading the public on how to stay safe. Bob also tries to clarify thinking about the Fed's repo bailouts and the outrage over hand sanitizer price gouging.Mentioned in the Episode and Other Links of Interest:U. of Minnesota's Michael Osterholm (head of Center for Infectious Disease Research and Policy) on CNBCs "Squawk Box" on Mar. 17, explaining what Americans should expect.Osterholm's Mar. 10 appearance on the Joe Rogan Experience.Bob on the Tom Woods Show on Mar. 5, talking about a free society's response to coronavirus (second half). Bob's article from 2007 on how a free market would handle quarantine. Bob's 2017 article on the economics of price gouging.Carlos Lara and Bob Murphy on "How to Weather the Coming Financial Storms," a video from September 2016.David Stockman's The Great Deformation (which explains why your ATM wasn't about to stop working in the fall of 2008). Bob Higgs' Crisis and Leviathan, which explains the ratchet effect of government power. Stephen King's The Stand. #CommissionsEarned (As an Amazon Associate I earn from qualifying purchases.)Help support the Bob Murphy Show.The audio production for this episode was provided by Podsworth Media.

1hr 21mins

24 Mar 2020

Rank #1

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Ep. 56 Bob Murphy Explains Austrian Business Cycle Theory, the Inverted Yield Curve, and the Coming Recession

Bob goes solo to give a quick explanation of the Mises-Hayek theory of the boom-bust cycle, and how he used it to forecast the financial crisis in 2008 a year ahead of time. He then explains the significance of an “inverted yield curve,” and shows how the Austrians can understand its predictive power much better than Keynesians like Paul Krugman can..Mentioned in the Episode and Other Links of Interest: The post at Lara-Murphy.com explaining the decomposition of the yield curve. Bob’s October 2007 post, warning how bad the coming recession might be. Info regarding the September 14, 2019 Mises Institute event in Seattle. (Contact Bob for a limited offer special deal.) The reason.com symposium on “Whatever happened to inflation?” Paul Krugman’s article on the yield curve, “From Trump Boom to Trump Gloom.” The Federal Reserve’s papers on the yield curve. Check out free sample issues of the Lara-Murphy Report. Bob and Carlos Lara’s video, “How to Weather the Coming Financial Storms.” Bob’s article on “the winner’s curse” and the assumptions underlying the analysis. Help support the Bob Murphy Show. The audio production for this episode was provided by Podsworth Media.

1hr 6mins

2 Sep 2019

Rank #2

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Ep. 92 FBI Spying and the Gaslighting of America

Bob uses the media coverage of the December Inspector General (IG) report on the FBI to illustrate how the establishment is gaslighting America. Specifically, some of the FBI's tactics when applying for permission to spy on the Trump campaign are jaw-dropping, and yet the corporate media have used the report to refute Trump's "conspiracy theories" about an FBI plot against him.Mentioned in the Episode and Other Links of Interest:The full Inspector General report on the FBI's FISA applications.CNN article on "Trump's baseless wiretap claim."Help support the Bob Murphy Show.The audio production for this episode was provided by Podsworth Media.

1hr 10mins

9 Jan 2020

Rank #3

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Ep. 30 Robbie “the Fire” Bernstein Discusses Stand-Up Comedy, Dealing With AOC, and the Coming Economic Crash

Bob brings on Robbie “the Fire” Bernstein, host of Run Your Mouth and junior host to Dave Smith on the popular libertarian podcast Part of the Problem. Bob and Robbie discuss the NYC stand-up comedy scene, and give a tutorial on jokes using some examples. Bob asks Robbie whether the mocking campaign against AOC might backfire, and then Robbie turns the tables by asking Bob about the coming economic crash.Mentioned in the Episode and Other Links of Interest: Robbie’s podcast Run Your Mouth, plus his show with Dave Smith, Part of the Problem. The three joke clips discussed: one, two, and three. Audience member at Porcfest trolls Bob, saves the scene. The trailer to the Billy Crystal movie, “Mr. Saturday Night.” Carlos Lara and Bob on the coming financial storms. Details on the May 10, 2019 seminar in Nashville on IBC and the coming crash. How you can contribute to the Bob Murphy Show. The audio production for this episode was provided by Podsworth Media.

1hr 57mins

29 Apr 2019

Rank #4

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Ep. 41 Karl Smith, of the Blog “Modeled Behavior,” Has Friendly Debate With Bob On Keynesian Stimulus and Carbon Taxation

Bob has a friendly discussion/debate with Karl Smith. First Bob pushes Karl to clarify the conditions under which government deficit spending could, even in theory, help a depressed economy. Then they switch to the economics of climate change, and Bob’s view that the case for a carbon tax is much weaker than most economists admit. Mentioned in the Episode and Other Links of Interest: Karl Smith’s article archive at Bloomberg. Karl’s twitter account. Bob and Karl’s live (online) debate. Bob’s (co-authored) Cato article critiquing a carbon tax. How you can contribute to the Bob Murphy Show. The audio production for this episode was provided by Podsworth Media.

1hr 13mins

21 Jun 2019

Rank #5

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Ep. 71 Mark Thornton on How Government Propped Up Slavery in the American South

Economic historian Mark Thornton has published several peer-reviewed articles on the economics of slavery in the American South. In this episode, he and Bob discuss the various ways in which government intervention propped up slavery and masked its inefficiency....Mentioned in the Episode and Other Links of Interest: Two of Mark Thornton’s (co-authored) journal articles on slavery: one and two. Jacobin magazine on slavery and capitalism in the United States. Bob’s mises.org article on slavery and capitalism. How you can contribute to the Bob Murphy Show. The audio production for this episode was provided by Podsworth Media.

1hr 4mins

26 Oct 2019

Rank #6

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Ep. 88 Ludwig von Mises versus God

Bob tackles a common objection from atheist libertarians: Doesn't Mises (in Human Action) refute the very notion of the Biblical God? Specifically, why wouldn't an omnipotent, omniscient being remove all uneasiness with one action?Mentioned in the Episode and Other Links of Interest:The pdf to the Scholar's Edition of Human Action.Help support the Bob Murphy Show.The audio production for this episode was provided by Podsworth Media.

42mins

24 Dec 2019

Rank #7

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Ep. 89 David Gordon on His Interactions with Hayek and Rothbard, the Philosophy of Economics, and Libertarianism as an Alleged Suicide Pact

David Gordon is a Senior Fellow with the Mises Institute who has a long history in Austrian economics and libertarianism. He talks with Bob about his personal story, including taking an undergrad class at UCLA with Hayek as his professor. Then they turn to philosophical issues in economics, and end with an analysis of the Strauss/Jaffa critique of libertarianism.Mentioned in the Episode and Other Links of Interest:Two of David Gordon's books, The Philosophical Origins of Austrian Economics and An Introduction to Economic Reasoning.David's regular column, The Mises Review.Michael Anton's critique of David, in which he calls libertarianism a "suicide pact." David's response.Bob's debate with David Friedman over economic methodology.Help support the Bob Murphy Show.The audio production for this episode was provided by Podsworth Media.

1hr 15mins

28 Dec 2019

Rank #8

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Ep. 96 Why I Am Still an Austrian Economist: My Response to Caplan

In Bob's interview of Bryan Caplan (in episode #91), they briefly discussed Bryan's essay criticizing Austrian economics. At listener request, in this episode Bob goes solo to give a much more comprehensive analysis of why he (Bob) remained an Austrian economist, even after seeing top-notch neoclassicals in action during his own time in grad school.Mentioned in the Episode and Other Links of Interest:Bob Murphy Show ep. 91, the interview with Bryan Caplan.Bryan Caplan's essay, "Why I Am Not an Austrian Economist."A compilation of responses to Caplan.Part 3 of Bob's series on Capital & Interest theory, which has links to the first 2 in the series.Bob's "sushi article" (responding to Krugman and Cowen's critiques of Austrian business cycle theory).Links to Bob's dissertation and also a paper on multiple interest rates.Bob's article explaining Hotelling's principle for an exhaustible resource.Arnold Kling on "recalculation."David R. Henderson talking about cardinal vs. ordinal utility.Help support the Bob Murphy Show.The audio production for this episode was provided by Podsworth Media.

1hr 55mins

29 Jan 2020

Rank #9

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Ep. 62 Tough Questions for Progressives

Bob asks a series of tough (but fair, he hopes) questions for progressives, ranging from abortion to the minimum wage to climate change........Mentioned in the Episode and Other Links of Interest: The NYT (front page) article discussing Obama’s “Secret Kill List.” The clip of Obama saying, “We tortured some folks.” William Nordhaus vs. the UN on climate change policy. A cost-benefit analysis of compensating kidney donors. A (pro-intervention) website showing the estimated effect of all governments meeting their Paris Agreement pledges. (Look at the thermometer on the front page.) A 2010 article summarizing some of the research on traffic fatalities and Corporate Average Fuel Economy (CAFE) regulations. A Murphy article summarizing the “revisionist” literature on the minimum wage. A 2017 post explaining some of the drivers of the gender “pay gap.” Help support the Bob Murphy Show. The audio production for this episode was provided by Podsworth Media.

41mins

24 Sep 2019

Rank #10

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Ep. 81 Jeffrey Rogers Hummel on the Economics of Slavery and Why the Confederate States Lost the Civil War

Jeffrey Rogers Hummel joins Bob for an in-depth discussion of the economics of slavery, touching on subtleties such as the labor/leisure tradeoff, and the recent claims by some historians that slavery was efficient. Then Bob asks Hummel to explain the provocative claim in his book, that the Confederacy would have done much better militarily if it had used the same guerrilla warfare tactics that the American colonists had used against the British.Mentioned in the Episode and Other Links of Interest:Jeffrey Rogers Hummel's book, Emancipating Slaves, Enslaving Free Men. #CommissionsEarned (As an Amazon Associate I earn from qualifying purchases.)Hummel's essay on the deadweight loss from slavery.The Bob Murphy Show ep. 71, featuring Mark Thornton discussing his work on the economics of slavery. And BMS ep. 58, on the military blunders of World War I.Bob's mises.org essay on the economics of slavery and the 1619 Project.Help support the Bob Murphy Show.The audio production for this episode was provided by Podsworth Media.

1hr 31mins

29 Nov 2019

Rank #11

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Ep. 90 Why Trump's Ukraine Call Was Small Potatoes

Bob goes through much more scandalous and corrupt activities from Presidents Clinton, Bush, and Obama, and why Hillary Clinton has a much worse record on self-dealing than Donald Trump.Mentioned in the Episode and Other Links of Interest:The clip of Schumer on Rachel Maddow.Clip of Nancy Pelosi discussing impeachment.ABC News article on Clinton cash.OpenSecrets post on Clinton Foundation.Bob's go-to example, the NYT front-page article on Obama's "secret kill list."Help support the Bob Murphy Show.The audio production for this episode was provided by Podsworth Media.

53mins

1 Jan 2020

Rank #12

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Ep. 79 Stephan Kinsella and Bob Murphy Debate Hans Hoppe’s “Argumentation Ethics”

By popular demand, Bob brings Stephan back on the podcast, this time to debate Hans Hoppe's famous "argumentation ethics" case for libertarianism. Stephan defends Hoppe's claim that any attempt to justify a NON-libertarian system would result in a performative contradiction, while Bob clarifies the argument and raises concerns about it.Mentioned in the Episode and Other Links of Interest:The YouTube video for this interview.Hans Hoppe's talk on argumentation ethics at his Property & Freedom Society.The 1988 Liberty symposium on Hoppe's argumentation ethics.Stephan Kinsella's concise guide to Hoppe's argument and its critics.Bob Murphy and Gene Callahan's critique of argumentation ethics in the Journal of Libertarian Studies, and Stephan Kinsella's response.Stephan's earlier appearance on ep. 39 of the Bob Murphy Show, talking about private law and Intellectual Property.Help support the Bob Murphy Show.The audio production for this episode was provided by Podsworth Media.

1hr 31mins

23 Nov 2019

Rank #13

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Ep. 35 Scott Horton Chastises Bob on His Ilhan Omar Episode, Talks About Who’s to Blame In Venezuela, and Explains the Carnage in the Middle East

Scott Horton returns to the podcast to share his wealth of knowledge on a variety of topics. Bob first gives Scott the opportunity to express his unhappiness with the recent episode (#29) on Ilhan Omar. Then they discuss the economic crisis in Venezuela, the carnage in the Middle East, the Mueller Report, and finally answer questions from the BMS Secret Facebook Group.Mentioned in the Episode and Other Links of Interest: The Scott Horton Show. Scott’s book on Afghanistan, Fool’s Errand. The Bob Murphy Show ep. 29 (which Scott did not like). David Stockman’s antiwar.com article on RussiaGate. A NYT article declaring: “[T]he White House needed to placate the Saudis as the administration completed a nuclear deal with Iran, Saudi Arabia’s archenemy. That fact alone eclipsed concerns among many of the president’s advisers that the Saudi-led offensive [in Yemen] would be long, bloody and indecisive.“ Weisbrot and Sachs on whether Venezuelan government or US is to blame for Venezuelan economic crisis. The Case for IBC. The Lara-Murphy Report. How you can contribute to the Bob Murphy Show. The audio production for this episode was provided by Podsworth Media.

2hr 22mins

24 May 2019

Rank #14