Mar 19, 2020
Back in April 2019, I reached out to my guest today, and in October, we finally conducted this interview you're about to hear. I had seen some of his economic theory articles on a website called Mises.org, which I had been turned onto by the Tom Woods show.
Anyway, he has the best breakdown of how interest works and and the moral repercussions of biblical lending and unbiblical lending. He didn't say it that way, but I was able to connect what he was saying with God's law, and I knew I had to at least reach out.
He's the clearest teacher that I have found on how banking works, and if I can get off track for one second here, here's what he cleared up for me: There's two distinct functions that used to be totally separate in business—1) paying a bank to protect your stuff. 2) Saving money at a bank, lending it your money which they pay interest on. Sort of like the bank buys your money at wholesale prices, lots of small amounts, and it sells your money at retail and splits the interest earnings with you.
Look up his lectures on YouTube. Fantastic teacher. Very clear and able to distill ideas to their essence.
His name is Robert Murphy. He's a Christian and economist. He's a Research Assistant Professor with the Free Market Institute at Texas Tech, a Senior Fellow with the Mises Institute, and he's a co-host with Tom Woods on their podcast "Contra Krugman."
We talk about: Bob's story from nominal Catholicism>atheism>Christ, reconciling Paul's commands to be subject to authority with Christian anarchism and anarchocapitalism, socialism in the early church, mandatory charity enforcement in the Bible, capital punishment, life ransoms for crimes, lawful slavery, negligent homicide insurance, and much more.
This same interview is episode 74 on Bob's show.
Bob turned the tables on me and started digging in to my ideas, and we had a fantastic time. I think it will be well worth your time, and it was definitely worth my wait.