David Scott interviews economists Robert P. MurphyHe is a senior fellow at the Mises Institute and is known to his many fans and supporters as Bob Murphy.
Bob is an Austrian School economist, a group based on 500 years of history. Economic thought especially, Carl Menger, Ludwig von Mises and Murray RothbardIt is based on an analysis of human behavior and motivations and builds piecemeal, deductively on these principles.
In this interview, David explains how he discovered the Austrian School and the extent of the intellectual revelation it has had for him, and Bob explains what the Austrian School is and Unique Insights It provides.
The discussion focuses on the Great Recession of 2008 and the role that Austrian School theory played. Business Cycle Played Predict and explain it(The last two links are to economic rap songs that David mentioned in the interview.)
Bob and David also discuss inflation and its effects, its mysterious absence and sudden, chaotic arrival, as they touch upon the strange economics of the Covid lockdown.
Another of Bob's areas of expertise is the economics of energy generation and climate change, which is particularly relevant today. He outlines his own work in this field and points out contradictions and flaws in the official position. These result in policy recommendations that may serve political purposes but are untenable and harmful to human flourishing. They make no sense even if you accept the global warming view and consider policies within that worldview. This shows how unhelpful the current net-zero belief has become in recent years.
David is an economics Truly worthless From Bob's point of view Values and ethics It is inherent in economic analysis.
Finally, David talks about the ghost of Paul Krugman and the existence of Austrian economics enthusiasts. Is Bob on the show just for the enthusiasts? Check it out.
