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Do Sticky Prices Make the Market Get Stuck?

Human Action Podcast

Tags Central BanksThe FedPrice ControlsPrices

06/09/2023Robert P. MurphyJonathan Newman

Jonathan Newman joins The Human Action Podcast to discuss his recent Twitter controversy over the claim that market prices can be "wrong" (i.e. in disequilibrium) if they are "sticky."

Jonathan Newman's Twitter controversy on sticky prices:
Joe Salerno on Mises's Monetary Theory:
Bagus and Howden on market disequilibrium and sticky prices:



Contact Robert P. Murphy

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 Bob Murphy Show.

Contact Jonathan Newman

Dr. Jonathan Newman is a Fellow at the Mises Institute. He earned his PhD at Auburn University while a Research Fellow at the Mises Institute. He was the recipient of the 2021 Gary G. Schlarbaum Award to a Promising Young Scholar for Excellence in Research and Teaching. Previously, he was Associate Professor of Economics and Finance at Bryan College. He has published in the Quarterly Journal of Austrian Economics and in volumes edited by Matthew McCaffrey and Per Bylund. His research focuses on Austrian economics, inflation and business cycles, and the history of economic thought. He has taught courses on Macroeconomics and Quantitative Economics: Uses and Limitations in the Mises Graduate School. He is the author of two children's books: The Broken Window and Ludwig the BuilderHis commentary appears regularly in the Mises Wire and Power & Market.