The Human Action Podcast

Home | Mises Library | Remembering the Contributions of Lucas and Alchian

Remembering the Contributions of Lucas and Alchian

Human Action Podcast

Tags MacroeconomicsBusiness CyclesOther Schools of Thought

05/19/2023Robert P. MurphyBrian Albrecht

Bob originally invited Brian Albrecht (Chief Economist of the International Center for Law & Economics) to discuss the work of Armen Alchian, but on the day of recording, Robert Lucas happened to die.

Bob and Brian discuss rational expectations, real business cycle theory, and how Alchian cracked the military's top secrets.

Brian on Alchian's famous "Costs and Outputs" paper:


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.

Brian Albrecht

Brian is the Chief Economist at the International Center for Law and Economics and an Assistant Professor of Economics at Kennesaw State University. His research is on the interplay of competition and information within economic theory. You can find more about his research on his website or follow him on Twitter.

He also posts regularly on his Substack, Economic Forces