Five Most Common Myths about International Trade

Lessons for the Young Economist

This is the textbook Lessons for the Young Economist. View the Teachers Manual to Lessons for the Young Economist here

We are beyond mere excitement about Lessons for the Young Economist. It is easily the best introduction to economics for the young reader—because it covers both pure economic theory and also how markets work (the domain of most introductory books).

Robert Murphy has the right frame of mind and mastery of the subject matter to provide the best possible pedagogy. The logic is super clear. The organization is impeccable. It achieves a great balance between “plain old” economics and that aspect of economic thought that is considered particularly Austrian. Therefore, it prepares the student for both conventional economic studies in the future and provides the logical rigor and policy clarity that only the Austrian School perspective can offer.

Most of the attempts at such texts falter because they are either too dry and technical for the young reader or they are littered with attempts to keep the student entertained with references to pop culture or cheesy passages that attempt to “speak the child’s language” but only end up sounding patronizing.

Dr. Murphy’s text has none of this. The prose has relentless fire without needless fireworks. What drives it forward is intellectual passion born of his love of the topic. What’s also nice is that he is nowhere self-consciously trying to sound like someone he is not. It is his real voice, explaining everything point by point. For this reason, the text is warm and engaging.

Here is the product of vast experience and daily writing. This permits the voicing of the book to achieve a remarkable integration page to page, chapter to chapter. Though he is drawing from the whole history of the development of economics, the text ends up being strikingly original. His approach is not based on anything but his own sense of how to teach this subject.

This book will not be boring or useless even for people who think they already know the subject. Every page or two, there are fresh insights. For example, on the problems with barter, he shows that in the real world, most goods and services would not have come into existence at all (so that there would be no trading of tractors for cobbler services because there would be no tractors or repairable shoes). In another place, he points out that one of the advantage

The Value of Money

This lecture was presented on 22 February 2012 as part of Econ400: Mises on Money and Banking, sponsored by the Mises Academy. [1:25:35] PPT

How the Private Bankers Are Using the Financial Crisis to Reshape World Government

Recorded in Houston, Texas, on 14 January 2012. [43:58]

Contributions of Mises in The Theory of Money and Credit

Presented in Vienna, Austria, on 19 September 2011. Includes an introduction by Douglas E. French. [30:04]

Contributions of Mises and Rothbard to Economic Thought

Recorded 29 July 2011 in Auburn, Alabama. [57:14]

The Market for Security

Recorded 28 July 2011 in Auburn, Alabama. [55:32]

Contrasting Views of the Great Depression

Recorded 27 July 2011 in Auburn, Alabama. [57:07]

The Core of What Economics Teaches

Hosted at the Mises Institute on 30 April 2010. Sponsored by Jeremy S. Davis.

Government Ag Policies: Harvesting Absurdities

The Mises Circle in Indianapolis. Sponsored by Weaver Popcorn Company. Recorded 14 May 2011. [30:28]

Unemployment: The 1930s and Today

Unemployment: The 1930s and Today Various Artists Will the Decline Continue?

Unemployment: The 1930s and Today

Unemployment: The 1930s and Today Various Artists Will the Decline Continue?

Does Bernanke Have an Exit Strategy?

Does Bernanke Have an Exit Strategy? Various Artists Depression, Monetary Destruction, and the Path to Sound Money

How Bernanke Is Using the Printing Press to Win Friends and Influence People

Phoenix, Arizona; 10 April 2010. Includes an introduction by Douglas E. French.

How Bernanke Is Using the Printing Press to Win Friends and Influence People

Phoenix, Arizona; 10 April 2010. Includes an introduction by Douglas E. French.

Only the Austrians Understand Interest Rates

The Mises Circle in Manhattan; 22 May 2010, New York, New York. [28:21]

Recapitalizing the Banks but Decapitating the Economy

Recorded at the Ludwig von Mises Institute; Auburn, Alabama; 8 October 2010. [28:41]

The Division of Labor

Sponsored by Anastasia Thiele. Recorded at the Ludwig von Mises Institute on Friday, 19 November 2010. [34:21]

Bernanke and the Dollar

Recorded 4 December 2010 in Rochester, New York. [58:37]

The Failure of "Stimulus" Policies

Recorded 4 December 2010 in Rochester, New York. [47:24]

Great Myths of the Great Depression

Recorded 4 December 2010 in Rochester, New York. [42:52]

The Core of What Economics Teaches

The Core of What Economics Teaches Various Artists Economics for High School Students

The Core of What Economics Teaches

The Core of What Economics Teaches Various Artists Economics for High School Students

Scott Horton Interviews Robert P. Murphy

Recorded 21 October 2010. [20:10]

Protection and the Market for Security

How a free market in law enforcement and military defense could work. Recorded 30 July 2010 in Auburn, Alabama. [1:01:06]

The Austrian Response to Recent Critics

Responds to criticism of Austrian business cycle theory and “Puritan” policy recommendations. Recorded 29 July 2010 in Auburn, Alabama. [58:33]

The Great Depression

Looks at causes of the 1929 crash and ensuing depression, with lessons for today. Recorded 28 July 2010 in Auburn, Alabama. [59:58]

Banking

Recorded 27 July 2010 in Auburn, Alabama. Includes an introduction by Mark Thornton. [1:00:45]

Capital and Interest

Recorded 26 July 2010 in Auburn, Alabama. Includes an introduction by Mark Thornton. [1:01:35]

The Curse of Machinery

The Curse of Machinery Various Artists Economics in One Lesson

Austrian vs. Neoclassical Analytics

Austrian vs. Neoclassical Analytics Various Artists Mises University 2009

Austrian vs. Neoclassical Analytics

Austrian vs. Neoclassical Analytics Various Artists Mises University 2009

How Politicians and Citizens Should Deal with Depression

How Politicians and Citizens Should Deal with Depression Various Artists Recovery or Stagnation?

How Politicians and Citizens Should Deal with Depression

How Politicians and Citizens Should Deal with Depression Various Artists Recovery or Stagnation?

How the Fed is Retarding Recovery

How the Fed is Retarding Recovery Various Artists Economic Downturn: Cause and Cure

How the Fed is Retarding Recovery

How the Fed is Retarding Recovery Various Artists Economic Downturn: Cause and Cure

Pattern Coordination and the Theory of Interest

F.A. Hayek Memorial Lecture. Recorded 12 March 2010 at the Ludwig von Mises Institute in Auburn, Alabama.

Pattern Coordination and the Theory of Interest

F.A. Hayek Memorial Lecture. Recorded 12 March 2010 at the Ludwig von Mises Institute in Auburn, Alabama.

Only the Austrians Can Explain Depressions

Jekyll Island, Georgia; 26 January 2010.

Private Defense

Private Defense Various Artists Chaos Theory: Two Essays on Market Anarchy

Private Law

Private Law Various Artists Chaos Theory: Two Essays on Market Anarchy

Introduction

Introduction Various Artists Chaos Theory: Two Essays on Market Anarchy

Foreword and Acknowledgements

Foreword and Acknowledgements Various Artists Chaos Theory: Two Essays on Market Anarchy

Current Market Conditions: 21 Oct. 2008

Current Market Conditions Robert P. Murphy Mises Institute Interview

Anarchy and Economies of Scale

Presented at the Mises Institute on July 13, 2005.  The PowerPoint presentation accompanying this lecture is available for download (in PPT). [59:41]

Austrian Theories of Interest

Murphy explains the process of setting interest rates in a free economy. Recorded June 25, 2003 [42:55]

Introduction to Anarchy

Presented to Dr. Brad Birzer's seminar on "American Order and Disorder," Hillsdale College; February 9, 2005. [1:00:03]

A Critique of the Invasion of Iraq

Delivered to the Hillsdale Liberals, Hillsdale College; August 31, 2004.

Consumer Protection: An Interview with Robert Murphy

Interviewed by Jeffrey Tucker at the Mises Institute; June 13, 2005.

The Economics and Politics of Education: An Interview with Robert Murphy

Jeffrey Tucker interviews Dr. Robert P. Murphy about Education on June 28th, 2005.