Ep. 514 Bryan Caplan on the Strengths and Weaknesses of Rothbard’s “For a New Liberty”
GMU economics professor Bryan Caplan discusses his recent substack series going through Rothbard’s classic, For a New Liberty, chapter by chapter.
Mentioned in the Episode and Other Links of Interest:
- The YouTube version of this episode.
- The cited chapter summaries from Bryan Caplan’s review of Rothbard: nine, twelve, thirteen, fourteen, and fifteen.
- This episode’s sponsor, the free Plan-B guide from ExPatMoney.
- Help support the Bob Murphy Show.

Caplan’s lies:
he claims ABCT is about business people ‘misestimating’ the ‘right’ interest rate.
It is about them being misincentivized to invest falsely: they can know rates are too low, but they have no option but to act as if they were real.
Would have been more interesting if Bob did push back. I want Bob and Bryan to hash it out. If I just want Caplan’s take, I can read the book club series.
Did you listen to the interview? Are you saying you don’t know where I disagreed with him and why?