The anti-capitalists are still with us, and how. Robert Murphy has decided to give them an in-your-face economics education that they won’t forget — ever.
His approach comes from years of teaching undergraduates and dealing with the most common errors. He also draws from his teaching experience at the Mises University to offer an Austrian perspective on economics.
He offers explanations and examples that are clear and compelling. What’s wrong with zoning? Murphy explains it. Isn’t outsourcing destroying America? On the contrary says Murphy: it is a wonderful for Americans! Shouldn’t the rich fork over in the name of social justice? Murphy says that this would make us all poorer.
The Politically Incorrect Guide to Capitalism is a solid and entertaining guide to free market economics written from the perspective of the Austrian School.
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Robert P. Murphy is a Senior Fellow with the Mises Institute. He is the author of numerous books: Contra Krugman: Smashing the Errors of America’s Most Famous Keynesian; Chaos Theory; Lessons for the Young Economist; Choice: Cooperation, Enterprise, and Human Action; The Politically Incorrect Guide to Capitalism; Understanding Bitcoin (with Silas Barta), among others. He is also host of The Human Action Podcast and The Bob Murphy Show.
Bob untangles two arguments that even Austrian economists sometimes conflate: Mises' calculation problem and Hayek's knowledge problem. Then, he explains why the distinction matters, especially in light of recent claims that AI and modern computing could finally make central planning viable.
In memory of Roger Garrison, Bob walks through Garrison's famous capital-based macroeconomics diagrams, showing how they translate the Mises-Hayek theory of the boom-bust cycle into the language of modern macroeconomics.
In commemoration of Murray Rothbard’s 100th birthday, Bob shares five “greatest hits” from Rothbard’s economics, covering deficits vs. inflation, monopoly theory, excess capacity, the time structure of production, and his reconstruction of utility and welfare economics.
