Robert P. Murphy

Quick Facts

Full Name	Robert P. Murphy
Occupation	Economist
Date Of Birth	May 23, 1976(1976-05-23)
Age	48
Country	United States
Birth City	New York City
Horoscope	Taurus

Robert P. Murphy Biography

Robert P. Murphy is one of the most popular and richest Economist who was born on May 23, 1976 in New York City, United States. Robert Patrick Murphy, born 23 May 1976, is an American economist. Murphy is Research Assistant Professor at Texas Tech University. Laffer Associates, Pacific Research Institute, Institute for Energy Research (IER), Independent Institute, Ludwig von Mises Institute and Fraser Institute have all been his affiliations.

Paul Krugman wrote a column critiquing economists who “stick with their ideology regardless of how poorly it performs in practice”. He noted that University of California Berkeley Professor of Economics J. Bradford DeLong had criticised Murphy for “predicting double-digit inflation for many years, but remaining[ing] absolutely committed [to his framework]” despite these predictions not being fulfilled. Krugman criticized Murphy’s failed inflation predictions in December 2012. He said that Murphy believed that Murphy’s “failed inflation forecast was OK” due to a “huge deflationary updraft that offsets the inflationary effect of Fed expansion.” Krugman stated that, if true, then “we should be hailing Ben Bernanke” for preventing a catastrophe deflation. Murphy responded to Krugman’s and DeLongs criticisms via his blog, saying that “my price inflation wager had nothing to do Austrian business cycle theory” as well as that Krugman was using an “macro model” that does not relate to Austrian theory. This theory relies on “heterogeneous Capital Goods” and artificially low interest rate distortions of investment flows to various sectors. Murphy admitted that he wasn’t sure why his inflation prediction was incorrect. Murphy discussed Krugman’s predictions about fiscal austerity in a piece published by The American Conservative in May 2013.

In a series of articles on his personal website, Murphy states that he agreed to a bet that there would be a year/year increase in the seasonally adjusted Consumer Price Index of over 10% by 2013, and notes that he lost the bet.

Murphy has written books such as Choice: Cooperation, Enterprise, and Human Action (Independent Institute, 2015), Primal Prescription with Doug McGuff, MD regarding healthcare in the United States, and Lessons for the Young Economist (Mises Institute 2010). He has written study guides to works of Ludwig von Mises and Murray Rothbard. Murphy authored the 2007 book The Politically Incorrect Guide to Capitalism. Murphy’s book, The Politically Incorrect Guide to the Great Depression and the New Deal, published in 2009, blamed the Depression on government policies.

Murphy is also noteworthy, and has been criticized by economists Brad DeLong and Paul Krugman for, repeatedly predicting that the quantitative easing practiced by the Federal Reserve in the late 2000s would create double-digit inflation and economic collapse–predictions that did not come to fruition. Murphy is a Christian and has written articles supporting a literal interpretation and skeptical of evolutionary theory.

Robert P. Murphy Net Worth

Robert P. Murphy is one of the richest Economist from United States. According to our analysis, Wikipedia, Forbes & Business Insider, Robert P. Murphy 's net worth $5 Million. (Last Update: December 11, 2023)

Murphy earned a Bachelor’s degree in economics from Hillsdale College in 1998, and a Ph.D. economics from New York University in 2003.

Economists Brad DeLong, Paul Krugman have criticized Murphy for his prediction that quantitative easing that was being used by the Federal Reserve in late 2000s would cause hyperinflation and economic collapse. These predictions have yet to come true. Murphy spoke out about the economic policies of both the Bush and Obama administrations in 2009. He called them “incredible attacks on the private sector by the central government”. Murphy stated that President Obama and Federal Reserve Chairman Ben Bernanke would result in double-digit inflation and high unemployment, and could lead to the demonetization of the US Dollar at the end of their presidency. Murphy suggested that the soaring prices of gasoline and import products sold at WalMart could be attributed to Obama Administration officials as “an attack against the Dollar by foreign speculationators”. They used the Amero or another currency “issued from a supranational organisation” to replace the Dollar. Murphy advised investors to build an emergency stockpile of physical gold, silver, and predicted double- digit inflation. Murphy declared that the economy would “go to the toilet for a decade” in July 2009 and predicted “20+% price inflation”.

In 2013 Murphy challenged Krugman to a debate and unnamed supporters of Murphy promised to donate $100,000 to a charity if Krugman would debate Murphy on economic policy issues. A promotional website was established for the challenge. Krugman called the proposed debate a “public circus” and stated “Why should I dignify that totally-wrong doctrine — that doctrine that’s gotten everything wrong — by giving them a platform?”

Height, Weight & Body Measurements

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Who is Robert P. Murphy Dating?

According to our records, Robert P. Murphy is possibily single & has not been previously engaged. As of December 1, 2023, Robert P. Murphy’s is not dating anyone.

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Facts & Trivia

Robert Ranked on the list of most popular Economist. Also ranked in the elit list of famous people born in United States. Robert P. Murphy celebrates birthday on May 23 of every year.