Ep. 96 Why I Am Still an Austrian Economist: My Response to Caplan

Published: Jan. 29, 2020, 1 p.m.

In Bob's interview of Bryan Caplan (in episode #91), they briefly discussed Bryan's essay criticizing Austrian economics. At listener request, in this episode Bob goes solo to give a much more comprehensive analysis of why he (Bob) remained an Austrian economist, even after seeing top-notch neoclassicals in action during his own time in grad school. Mentioned in the Episode and Other Links of Interest: Bob Murphy Show https://www.bobmurphyshow.com/episodes/ep-91-bryan-caplan-defends-open-borders-and-his-critique-of-austrian-economics/ (ep. 91), the interview with Bryan Caplan. Bryan Caplan's essay, https://econfaculty.gmu.edu/bcaplan/whyaust.htm ("Why I Am Not an Austrian Economist.") A https://mises.org/wire/caplan-and-responses (compilation of responses) to Caplan. https://www.bobmurphyshow.com/episodes/ep-31-capital-and-interest-in-the-austrian-tradition-part-3-of-3/ (Part 3) of Bob's series on Capital & Interest theory, which has links to the first 2 in the series. https://mises.org/library/importance-capital-theory (Bob's "sushi article") (responding to Krugman and Cowen's critiques of Austrian business cycle theory). https://consultingbyrpm.com/blog/2011/07/my-heretical-and-pathbreaking-work-on-austrian-interest-theory.html (Links) to Bob's dissertation and also a paper on multiple interest rates. Bob's https://www.econlib.org/library/Columns/y2008/Murphyoil.html (article explaining Hotelling's principle) for an exhaustible resource. Arnold Kling on https://www.econlib.org/archives/2010/07/the_recalculati_2.html ("recalculation.") David R. Henderson talking about https://www.econlib.org/archives/2015/05/murphy_on_inter.html (cardinal vs. ordinal utility). http://bobmurphyshow.com/contribute (Help support) the Bob Murphy Show. The audio production for this episode was provided by http://podsworth.com/ (Podsworth Media).