Bob Murphy Show
The podcast promoting free markets, free minds, and grateful souls.
Parsing Trump on Interest Rates
Adam Haman breaks the long hiatus to help Bob break down Trump's recent statements on interest rates (and trade deficits).
Mentioned in the Episode and Other Links of Interest:
The YouTube version of this episode.Bob explains connection between current account deficit and capital account surplus.This episodeās sponsor, The Swan Bros.The HamanNature substack.Help support the Bob Murphy Show.Dan McCarthy on the Death of Libertarianism
Dan McCarthy is editor of Modern Age. He joins Bob to discuss his provocative piece in The Spectator.
Mentioned in the Episode and Other Links of Interest:
The YouTube version of this episode.Dan's article in The Spectator.Help support the Bob Murphy Show.Pushing Back Against Neil deGrasse Tyson on Science Funding
Adam Haman returns to help Bob dissect Neil deGrasse Tyson's recent complaints about the lack of government funding for science.
Mentioned in the Episode and Other Links of Interest:
The YouTube version of this episode.Neil deGrasse Tyson laments science funding.The Bell Labs paper that laid out the Kelly criterion. Kealey's case against public funding of science. The myth of basic science. Bundt & Murphy test Mandelbrot's hypothesis for residual economic variables.This episodeās sponsor, The Scott Horton Academy.The HamanNature substack.Help support the Bob Murphy Show.David Beckworth Helps Breakdown Dinesh D'Souza's Calvinism Debate
Economist David Beckworth joins Bob to analyze a recent debate on Calvinism between Dinesh D'Souza and Guillaume Bignon, hosted on the Gospel Truth podcast. Both David and Bob approach the issue as Molinists.
Mentioned in the Episode and Other Links of Interest:
The YouTube version of this episode.The Bignon-D'Souza debate on Calvinism.David Beckworth's substack. His podcast Macro Musings.Bob lays out his framework of reconciling natural laws with free will and God's sovereignty.William Lane Craig's The Only Wise God. Kenneth Keately's Salvation and Sovereignty. Kirk MacGregor Luis de Molina.Bob's debate with David...Dave Smith KOs Alan Dershowitz on Iran
Adam Haman returns to help Bob analyze the ZeroHedge debate on the Iran war between Dave Smith and Alan Dershowitz. The famous lawyer had but one argument, and it was ridiculous at that. Dave also displayed quick-witted responses.
Mentioned in the Episode and Other Links of Interest:
The YouTube version of this episode.The ZH debate between Dave Smith and Alan Dershowitz.This episodeās sponsor, The Scott Horton Academy.The HamanNature substack.Help support the Bob Murphy Show.Responding to Dinesh D'Souza on the Alleged Problems of Calvinism
On Twitter and YouTube, Dinesh D'Souza has been criticizing Calvinism (i.e. Reformed theology) for weeks, leveling both scriptural but also philosophical and moral objections. Bob adopts his version of Molinism to argue that God's sovereignty can be reconciled with man's free will (and hence moral culpability).
Mentioned in the Episode and Other Links of Interest:
Dinesh D'Souza's critique of Calvinism.RC Sproul's YouTube series introducing systematic Reformed theology.William Lane Craig quick intro to Molinism.The BMS ep. 158, A Geometric Analogy to Reconcile Paul and James.Installments one and three in the BMS series on...The Walls Are Contracting on George Selgin's Credit
Taking a recent Twitter exchange as a springboard, Bob argues that George Selgin has unwittingly conceded the entire argument they had at the SoHo Forum: namely, fractional reserve banking by its very essence causes a mismatch between the community's saving and the funds made available for loans via the banks.
Mentioned in the Episode and Other Links of Interest:
Keith Vencel's new book, A New Monetary System.The SoHo Forum debate between Selgin and Murphy.Selgin's posts on ABCT and FRB (one and two).Bob's Human Action episode on Mises and FRB.Bob's QJAE article on...The Yen Bailout and Failure of Keynesian Policies
Adam Haman returns to discuss the Japan/US bailout of the yen, and Japan's relation to the US position. What does it signify for QE and deficit spending?
Mentioned in the Episode and Other Links of Interest:
The YouTube version of this episode.This episodeās sponsor, The Swan Bros.The HamanNature substack.Help support the Bob Murphy Show.Analyzing Luke Gromen on Fiscal Dominance
Adam Haman helps Bob analyze Luke Gromen's recent interview, in which he argued that high inflation was the only way to end "fiscal dominance" in the US.
Mentioned in the Episode and Other Links of Interest:
The YouTube version of this episode.Luke Gromen interview on the "What Bitcoin Did" podcast.Bob interviews Gromen on the Human Action podcast.Bob interviews Lyn Alden on her book, Broken Money.This episode's sponsor, The Swan Bros.The HamanNature substack.Help support the Bob Murphy Show.Haman and Murphy Review Nolan's "The Odyssey"
Adam Haman returns to help Bob analyze Nolan's latest blockbuster. Hint: the right-wingers lied to you.
Mentioned in the Episode and Other Links of Interest:
The YouTube version of this episode.The HamanNature substack.Help support the Bob Murphy Show.Gene Callahan Asks If LLMs Are Thinking What Are They Thinking About
Frequent guest Gene Callahan returns to present a talk he's been giving in academic circles, which relies on standard computer science to argue that LLMs can't possibly be thinking "about" the external world in the same way humans do. Economist and philosopher Kevin Vallier joins the discussion.
Mentioned in the Episode and Other Links of Interest:
The YouTube version of this episode.Gene Callahan on the ghost in the AI machine.Callahan's homepage. Vallier's homepage.Help support the Bob Murphy Show.Reviewing Carl Jung's Answer to Job
Adam Haman returns, this time helping Bob critique Carl Jung's "Answer to Job."
Mentioned in the Episode and Other Links of Interest:
The YouTube version of this episode.Carl Jung's "Answer to Job."This episode's featured company, Jackery.RC Sproul on Job.BMS ep. 420 unpacking Darryl Cooper's religious heresies.The HamanNature substack.Help support the Bob Murphy Show.Adam Haman Asks Bob Murphy All About the US Debt
As the federal debt held by the public surpasses GDP, Adam Haman asks Bob Murphy what it means and the options going forward.
Mentioned in the Episode and Other Links of Interest:
The YouTube version of this episode.Bob's proposal for reforming federal finances. His proposal for letting people opt out of Social Security. His lecture on debt burdens on future generations.The HamanNature substack.Help support the Bob Murphy Show.Jim Bovard Explains What the Government Did at Ruby Ridge
Jim Bovard is a Senior Fellow with the Libertarian Institute. He tells what happened to the Weaver family in 1992 when they were assaulted by federal agents.
Mentioned in the Episode and Other Links of Interest:
The YouTube version of this episode.Jim Bovard's page at the Libertarian Institute. A specific article on Ruby Ridge.Help support the Bob Murphy Show.Why Don't You Libertarians Move to Somalia
Adam Haman returns for a fun episode, responding to two satirical bits (one video, one in print) mocking radical libertarians.
Mentioned in the Episode and Other Links of Interest:
The YouTube version of this episode.Ad for a Somali vacation. The Libertarian Police Dept.This episode's sponsor, The Swan Bros.Ben Powell et al.'s article on Somalia. Pete Leeson's article on Somalia.Bob's booklet Chaos Theory. Adam's post on Ancapistan.The HamanNature substack.Help support the Bob Murphy Show.Mitchell Suchner on the Arkpad Vision for Floating Freedom
Mitchell Suchner is the director of Arkpad, which produces floating cabins that can be deployed in modular fashion to create mobile communities. This is not theoretical; Mitchell conducts the interview from such a unit located off the coast of the Philippines.
Mentioned in the Episode and Other Links of Interest:
The YouTube version of this episode.The webpage for Reef Resort.Bob's 2025 interview of Patri Friedman, an early proponent of seasteading.Help support the Bob Murphy Show.Darryl Cooper's Strikeout on US Labor History
Adam Haman returns to help Bob give a loving yet forceful pushback against Darryl Cooper's discussion (on the Jim Webb podcast) of US labor history.
Mentioned in the Episode and Other Links of Interest:
The YouTube version of this episode.Darryl's appearance on the Jim Webb podcast.This episodeās sponsor, the Scott Horton Academy.Patrick Newman's article on the Crash of 1873. A pro-union description of the 1877 railway strike. The price level from 1860-1939. Ben Powell talk on sweatshops. George Selgin's book Less Than Zero. Hayek's collection Capitalism and the Historians.The HamanNature substack.Help support th...The Airing of Grievances: Murphy Extends His Critique of Three Economists
Bob does a nerdy follow-up to prior interactions with George Selgin, Bryan Caplan, and Brad DeLong.
Mentioned in the Episode and Other Links of Interest:
The BMS analyzing the SoHo Forum debate on FRB, Bob's recent interview of Bryan Caplan, and Brad DeLong's congressional testimony. Bob's blog post responding to DeLong.Bob's much earlier post on Hoover's memoirs.Help support the Bob Murphy Show.Bob Murphy Asks: Why Did I Lose My SoHo Forum Debate on Fractional Reserve Banking?
Adam returns to tell Bob why he lost his debate to George Selgin.
Mentioned in the Episode and Other Links of Interest:
The YouTube version of this episode.The SoHo Forum debate between Murphy and Selgin.This episodeās sponsor, the free Plan-B guide from ExPatMoney.Bobās article on FRB.The HamanNature substack.Help support the Bob Murphy Show.Bob Murphy Interviewed About the Future of AI
Bob recently appeared on the "Human Reaction" podcast, where host David Rand asked him various questions concerning the economics of AI. Although frequent BMS listeners will have heard these themes before, there is new material in this discussion.
Mentioned in the Episode and Other Links of Interest:
The YouTube version of this episode.The Human Reaction YT channel.This episodeās sponsor, the free Plan-B guide from ExPatMoney.Help support the Bob Murphy Show.The "Crime of '73" and Other Episodes in US Economic History
Adam Haman returns to further discuss US monetary and economic history, with an emphasis on understanding the designs of the "American System" (propounded by Hamilton and later Clay).
Mentioned in the Episode and Other Links of Interest:
The YouTube version of this episode.The previous BMS ep. 507 on this topic. The Phoenician League archives.This episodeās sponsor, the free Plan-B guide from ExPatMoney.Bob's Understanding Money Mechanics. Bob's aggressive plan for US fiscal reform. Bob's case for Texas secession.The HamanNature substack.Help support the Bob Murphy Show.Bryan Caplan on the Strengths and Weaknesses of Rothbard's For a New Liberty
GMU economics professor Bryan Caplan discusses his recent substack series going through Rothbard's classic, For a New Liberty, chapter by chapter.
Mentioned in the Episode and Other Links of Interest:
The YouTube version of this episode.The cited chapter summaries from Bryan Caplan's review of Rothbard: nine, twelve, thirteen, fourteen, and fifteen.This episodeās sponsor, the free Plan-B guide from ExPatMoney.Help support the Bob Murphy Show.What Defines an Asset Bubble? What Got Us Out of the Depression?
Adam Haman helps Bob dissect a recent episode of the Coleman Hughes show, where he interviewed Iman Virjee on his new book on asset bubbles. Bob clarifies the description, and then pushes back on Virjee's analysis of the Great Depression.
Mentioned in the Episode and Other Links of Interest:
The YouTube version of this episode.Coleman Hughes' interview of Aman Virjee.This episodeās sponsor, the free Plan-B guide from ExPatMoney.Bob's article on the Depression of 1920-1921. Bob's book on the Great Depression. Bob's presentation on theories of the Depression.The HamanNature substack.Help support th...The Rise and Fall of the Labor Theory of Value
Relying on his Journal of Libertarian Studies review essay of Kevin Carson' book on mutualism, Bob first explains--and then critiques--the labor (and cost) theory of economic value. This was not exclusively a Marxist idea; it was held by Adam Smith and other classical economists.
Mentioned in the Episode and Other Links of Interest:
Bob's paper in the JLS critiquing the labor theory of value.This episodeās sponsor, the free Plan-B guide from ExPatMoney.Help support the Bob Murphy Show.Adam Haman and Bob Murphy Review McMurtry's "Lonesome Dove"
Adam Haman returns for another literary episode, this one reviewing Larry McMurtry's classic Western, "Lonesome Dove." He and Bob praise not just the story, but the novel's writing too.
Mentioned in the Episode and Other Links of Interest:
The YouTube version of this episode.This episodeās sponsor, the free Plan-B guide from ExPatMoney.The HamanNature substack.Help support the Bob Murphy Show.Brian Albrecht Shows a Flaw in the "Waterbed" Critique of Market Power
Economist Brian Albrecht explains his discovery of a surprising--but critical--missing link in a popular argument against market power. Specifically, Brian shows that the standard work in this literature doesn't even allow consumer harm as a possibility of firms merging.
Mentioned in the Episode and Other Links of Interest:
The YouTube version of this episode.Albrecht's paper on the weakness in the waterbed argument. His substack (with Josh Hendrickson).Bob's past discussion with Brian. Bob's interview of Eric Weinstein.This episodeās sponsor, the free Plan-B guide from ExPatMoney.Help support the Bob Murphy Show.Responding to Jeremy Kauffman on Libertarian Party Strategy
Adam Haman returns to help Bob offer praise and criticism for Jeremy Kauffman's recent speech at the Libertarian Party's national convention, as well as his appearance on the Tom Woods Show.
Mentioned in the Episode and Other Links of Interest:
The YouTube version of this episode.Jeremy Kauffman's appearance on the Tom Woods Show. His address to the LP national convention.Jeremy's interview on BMS ep. 368.This episode's sponsor, the free Plan-B guide from ExPatMoney.The "Universal Principles of Liberty."The HamanNature substack.Help support the Bob Murphy Show.Gene Callahan Argues Murphy's AnCap Vision Is Just a State
Drawing on the work of British idealist philosopher Bernard Bosanquet, Callahan argues that standard depictions of an "anarcho-capitalist" society, whether practical or not, would constitute a "State."
Mentioned in the Episode and Other Links of Interest:
The YouTube version of this episode.Gene Callahan's article on anarchism.Bob's pamphlet, Chaos Theory.Help support the Bob Murphy Show.A Critique of Hamilton's American System
Adam Haman joins Bob to critique an article making an Austrian case for Alexander Hamilton's "American System." Specifically, the plan favored national banking, protective tariffs, assumption of state debts, a preference for "productive" credit, and infrastructure projects. Bob pushes back.
Mentioned in the Episode and Other Links of Interest:
The YouTube version of this episode.The article praising Hamilton's American System.Burt Folsom's wonderful The Myth of the Robber Barons.This episodeās sponsor, The Scott Horton Academy.The HamanNature substack.Help support the Bob Murphy Show.Abby Hall on Her New Book Introducing Austrian Economics
With co-author Chris Coyne, Abby Hall has a new book serving as an introduction to the Austrian School. As she and Bob discuss, the book fills a niche in the existing options of this genre.
Mentioned in the Episode and Other Links of Interest:
The YouTube version of this episode.Abby Hall's new book (co-authored with Chris Coyne), Austrian Economics: An Introduction.The prior BMS interview of Abby (on Latin American military intervention).Help support the Bob Murphy Show.Highlighting Scott Horton on Joe Rogan
Adam Haman returns to help Bob trumpet the amazing performance of Scott Horton on the JRE.
Mentioned in the Episode and Other Links of Interest:
The YouTube version of this episode.The Rogan interview of Horton.Bob's "Hail Mary" episode and interview of Robert Bryce on rare earths.Adam's analysis of the Massie affair.This episodeās sponsor, Jackery.The HamanNature substack.Help support the Bob Murphy Show.Thomas Massie on Tucker
Adam Haman returns to help Bob analyze the recent Tucker Carlson monologue and then interview of Thomas Massie. Although they are fans of both men, Adam and Bob do have some misgivings about the episode.
Mentioned in the Episode and Other Links of Interest:
TheĀ YouTube version of this episode.The Tucker episode with Massie.This episodeās sponsor, The Swan Brothers.TheĀ HamanNature substack.Help supportĀ the Bob Murphy Show.How Is the Progressive Analysis of Jeffrey Dahmer Like the Libertarian Analysis of Putin?
Adam Haman returns, for the first in a series on "Challenging and Defending Liberty." In this one, Bob plays clips from a progressive who uses the Jeffrey Dahmer case to challenge the "prison-industrial complex." Bob argues that this is similar to how antiwar libertarians analyze Putin and the Iranian regime.
Mentioned in the Episode and Other Links of Interest:
TheĀ YouTube versionĀ of this conversation.The Olurinatti video on serial killers.This episodeās sponsor, The Scott Horton Academy.TheĀ HamanNature substack.Help supportĀ the Bob Murphy Show.Answering Darryl Cooper's Objections to Libertarianism
Adam Haman returns to help Bob respond to Martyr Made's recent appearance on Jacob Winograd's Biblical Anarchy podcast.
Mentioned in the Episode and Other Links of Interest:
TheĀ YouTube versionĀ of this conversation.Darryl's appearance on Jacob Winograd's show.A previous BMS covering Oregon's drug decriminalization.This episodeās sponsor,Ā The Swan Brothers.TheĀ HamanNature substack.Help supportĀ the Bob Murphy Show.The Notorious Red and Blue Button Brouhaha
Bob first addresses a pro-political process argument from Tom Woods, then spends the balance of the episode analyzing a brain teaser that swept X for 3 days.
Mentioned in the Episode and Other Links of Interest:
The YouTube version of this episode.The Tom Woods episode with Clint Russell.Two interesting (one and two) substack posts from Tim Urban.Bob's pamphlet on Texas independence.Help supportĀ the Bob Murphy Show.Responding to Elon on UBI as a Solution to AI-Produced Unemployment
Adam Haman returns, this time helping Bob to unpack and critique Elon Musk's recent advocacy of UBI as a solution to AI taking our jobs.
Mentioned in the Episode and Other Links of Interest:
TheĀ YouTube versionĀ of this conversation.This episodeās sponsor,Ā The Swan Brothers.TheĀ HamanNature substack.Help supportĀ the Bob Murphy Show.Bob Murphy Explains a Voluntary Society from a Biblical Perspective
Back in February, Bob was a guest on the Bad Roman podcast, talking about his booklet Chaos Theory from a Christian point of view. This is a rebroadcast of that discussion.
Mentioned in the Episode and Other Links of Interest:
The Bad Roman podcast.Bob's pamphlet, Chaos Theory.Help supportĀ the Bob Murphy Show.Analyzing Mamet's House of Games
Adam Haman returns to discuss one of his favorite movies. Plus he and Bob share personal stories of when they were conned.
Mentioned in the Episode and Other Links of Interest:
TheĀ YouTube versionĀ of this conversation.This episodeās sponsor,Ā The Swan Brothers.TheĀ HamanNature substack.Help supportĀ the Bob Murphy Show.An Interdisciplinary Commentary on the Gospel Accounts of Jesus Christ: Installment 12, Men Loved Darkness
Bob continues his commentary on John chapter 3, this time on verses 18 through 36 (finishing the chapter). The emphasis is on the humility of John the Baptist, and the fact that you need a savior.
Mentioned in the Episode and Other Links of Interest:
The previous episode in this series, i.e. BMS ep 487, Installment 11:Ā Whoever Believes in Him.RC Sproul on Jesus as the light.Help supportĀ the Bob Murphy Show.America After Trump
Adam Haman returns to discuss the political vacuum that will be left in a post-Trump America. It's not a pretty picture.
Mentioned in the Episode and Other Links of Interest:
TheĀ YouTube versionĀ of this conversation.Bob's pamphlet on Texan independence.This episodeās sponsor,Ā theĀ Scott Horton Academy.TheĀ HamanNature substack.Help supportĀ the Bob Murphy Show.