2020 August Lara-Murphy Report
Why do the defenders of capitalism feel like they’re under a coordinated attack? Because they are.
2020 May Lara-Murphy Report
Even if the virus dies away, large sectors of the economy are already pulverized.
2020 April Lara-Murphy Report
Major Firms Less Liquid Than a Responsible Household
Standard financial planning recommends that a typical middle-class (or wealthier) household have at least 6 months’ worth of expenses available in very liquid funds (“cash in the bank”), to handle a sudden job loss, injury, or illness. And yet, when the coronavirus crisis struck, we saw not only small businesses but even many major firms brought to their knees because they couldn’t handle even a temporary interruption in their revenue streams.
2019 August & September Lara-Murphy Report
CLIMATE HYSTERIA: FACT VS. FICTION BY Robert P. Murphy
Despite their claims of just reporting on the science, the radical environmentalists don’t have the facts on their side. One of the big stories this month was “Climate Week” (September 24-30), and in particular the passionate testimony of sixteen-year-old Greta Thunberg before the UN, in which she famously exclaimed, “How dare you!” to the adults who were allegedly ruining her future. Another related item was the tragic death in late August of economist Martin Weitzman, which shone a spotlight on his technical work showing the limitations of conventional models in handling catastrophic risk scenarios.
2019 July Lara-Murphy Report
On the last day of July, the Federal Reserve announced that it would be cutting its target for the federal funds rate, and it also moved up the termination of its balance sheet runoff. The move signals a fairly abrupt departure from the Fed’s official outlook from just a year ago, even though the underlying fundamentals have not significantly changed in the interim. Many observers have attributed the shift in Fed policy to Trump, either through his intimidation of Powell or because his antics with China could lead to a trade war (and hence require a shot in the arm to the economy). Either way, the Fed’s announcement does not bode well for the long-term health of the economy.
2019 June Lara-Murphy Report
WHO BENEFITS FROM A GIANT HOSPITAL BILL?: Interview With Keith Smith, MD
Dr. Keith Smith knows the theory of Austrian economics, but he’s also doing something about it. He is lowering medical prices dramatically by seceding from the system.Dr. G. Keith Smith is a board certified anesthesiologist in private practice since 1990. In 1997, he co-founded The Surgery Center of Oklahoma, an outpatient surgery center in Oklahoma City, Oklahoma, owned by over 90 of the top physicians and surgeons in central Oklahoma. Dr. Smith serves as the medical director, CEO, and managing partner while maintaining an active anesthesia practice.
In 2009, Dr. Smith launched a website displaying all-inclusive pricing for various surgical procedures, a move that has gained him and the facility international attention.
His most recent effort is the launch of the Free Market Medical Association, which provides a platform where those seeking to obtain high quality and affordable health care can find free market-minded providers, both physicians and facilities.
