Bob Murphy Show

Steve Keen is an iconoclast economist who is sympathetic to MMT claims that right-wingers worry too much about government budget deficits. However, in a recent post Keen says that Trump Admin economists (such as Stephen Miran) make more sense on trade deficits than Warren Mosler does. Mentioned in the Episode and Other Links of Interest: * The YouTube version [https://youtu.be/4MGOK-CMxpw] of this conversation. * This episode’s sponsor, PersistSEO.com [http://persistseo.com/]. * Steve Keen's free book [https://book.stevekeenfree.com/] and subscription-based online course. * Steve's post on trade deficits [https://profstevekeen.substack.com/p/trade-tariffs-and-coming-up-trumps], Trump, and MMT. * Murphy and Hendrickson give qualified support to Miran's paper [https://mises.org/podcasts/human-action-podcast/unpacking-document-spells-out-trumps-tariff-strategy] on tariffs. * Help support [http://bobmurphyshow.com/contribute] the Bob Murphy Show.

Kristian Fors is a research fellow with the Independent Institute. He joins Bob to discuss his new policy report, which explains why so many insurers are pulling out of the California homeowners market, and how to fix it. Mentioned in the Episode and Other Links of Interest: * The YouTube version [https://youtu.be/CxEFoCy1pg8] of this interview. * Kristian Fors' policy report [https://www.independent.org/article/2025/05/12/why-californias-homeowners-insurance-market-collapsed-and-how-to-fix-it/] on the CA homeowners insurance crisis. Independent Institute's Golden Fleece awards [https://www.independent.org/research/california-golden-fleece-awards/]. * The link for Monetary-Metals.com [http://monetary-metals.com/Murphy]. * Help support [http://bobmurphyshow.com/contribute] the Bob Murphy Show.

Adam Haman returns, this time to discuss Jacob Hornberger's recent video, where he critiques the Haman/Murphy/Dave Smith takes on immigration. Mentioned in the Episode and Other Links of Interest: * The YouTube version [https://youtu.be/08ELKGqU3AY] of this conversation. * Jacob Hornberger's critique [https://www.youtube.com/watch?v=pvo4q8JJw84] of Haman/Murphy/Smith. * The SoHo Forum immigration debate [https://www.youtube.com/watch?v=6xWiSBnwIQM] between Dave Smith and Alex Nowrasteh. Adam and Bob's original analysis [https://www.bobmurphyshow.com/episodes/ep-412-evaluating-the-soho-immigration-debate-and-malice-on-darkhorse/] of the SoHo Forum immigration debate. Bob's breakdown of it [https://mises.org/podcasts/human-action-podcast/crucial-principle-and-data-stake-soho-immigration-debate] on Human Action podcast. Bob's interview of Nowrasteh [https://www.bobmurphyshow.com/episodes/ep-415-alex-nowrasteh-explains-the-data-and-theory-behind-his-soho-forum-immigration-performance/] on the debate. * The HamanNature substack [https://hamannature.substack.com/]. * Help support [http://bobmurphyshow.com/contribute] the Bob Murphy Show.

Alex Nowrasteh is Vice President for Economic and Social Policy Studies at the Cato Institute. After Bob (on the Human Action podcast) summarized the recent SoHo forum immigration debate between Alex and Dave Smith, Alex had written a substack article responding to Bob's critique. Alex joins Bob to discuss the controversy, covering the empirical studies, the Hoppean argument concerning government-controlled property, and the current situation in LA. Mentioned in the Episode and Other Links of Interest: * The YouTube version [https://youtu.be/Yp7MwUchCSM] of this conversation. * This episode's sponsor, PersistSEO.com [http://persistseo.com/]. * The SoHo Forum immigration debate [https://www.youtube.com/watch?v=6xWiSBnwIQM]. * Alex Nowrasteh's substack column [https://www.alexnowrasteh.com/p/bob-murphy-partly-misses-the-mark] pushing back against Bob's critique. The list of CATO studies [https://www.cato.org/people/alex-nowrasteh/category/study] (co-)authored by Alex Nowrasteh. * Bob and Adam Haman comment on the SoHo debate [https://www.bobmurphyshow.com/episodes/ep-412-evaluating-the-soho-immigration-debate-and-malice-on-darkhorse/]. Bob goes solo on the Human Action podcast to parse Dave Smith's arguments and to question Alex's empirical claims [https://mises.org/podcasts/human-action-podcast/crucial-principle-and-data-stake-soho-immigration-debate]. * Bob's episode talking about blockades and immigration [https://www.bobmurphyshow.com/episodes/ep-194-how-a-voluntary-society-would-handle-blockades-and-immigration/] in a free society (with reference to his novel, Minerva). * Help support [http://bobmurphyshow.com/contribute] the Bob Murphy Show.

Adam Haman returns. In this episode he and Bob share life lessons from their respective fields of expertise (card-playing and economics). Mentioned in the Episode and Other Links of Interest: * The YouTube version [https://youtu.be/cdYGz6h_5TQ] of this conversation. * The HamanNature substack [https://hamannature.substack.com/]. * Help support [http://bobmurphyshow.com/contribute] the Bob Murphy Show.