Capital and Interest Theory
The Division of Labor and Social Order
"The free market and the division of labor does not promote hyper-atomized individuals. It creates social harmony and community."
Explaining Malinvestment and Overinvestment
Larry Sechrest provides a concise (4000-word) explanation of the concepts of malinvestment and overinvestment and how they help us understand economic depressions and the boom-bust cycle.
Robert Murphy on History and New Developments in Austrian Interest Theory
Bob gives a guest lecture for Jonathan Newman’s MA course for the Mises Institute, on the history of, and new developments in, the pure time preference theory of interest.
Jeff Herbener and Bob Murphy Discuss the Pure Time Preference Theory of Interest
At the 2021 AERC, Jeff Herbener presented a defense of the pure time preference theory of interest, and mentioned Bob’s critique of it. This episode is a very informative discussion of their views.
Robots Won’t Destroy Us: How Automation Creates Jobs
The goods created by automation—and the labor freed up by it—become inputs for industries downstream.
Why Socialism Won’t End Worker “Exploitation”
Economic realities mean the socialist state would need to utilize the same method of discounting wages as capitalists do. The only difference is that under socialism, bureaucrats would do the "exploitation."
The Saving Problem in America: Alternatives and Reforms
Savings are the foundation for a productive and advanced economy. Unfortunately, governments insist on policies that make it harder for ordinary people to save.
The Saving Problem in America: Alternatives and Reforms
Savings are the foundation for a productive and advanced economy. Unfortunately, governments insist on policies that make it harder for ordinary people to save.