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 sits down with macro researcher Luke Gromen of Forest for the Trees to discuss the cascading supply chain consequences of a closed Strait of Hormuz.
After his recent Zero Hedge debate with MMT co-founder Randall Wray, Bob takes a deep dive into the sectoral balance approach. He explains why the MMT argument is technically a tautology, how it's deeply misleading, and why the private sector doesn't need government deficits to save, invest, and accumulate real wealth.
This week, Bob explains Cantillon effects: the insight that new money doesn't raise all prices equally or simultaneously, but flows through the economy in a sequence that benefits early recipients at the expense of everyone else. Then, he shows why this phenomenon is the foundation on which the entire Austrian theory of the business cycle is built.
