InFi: the Future of Finance

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178

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Aug 2026

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About the show

Welcome to INFI: the Future of Finance, hosted by American economist and author Dr. Robert P. Murphy. Each week tune in for dynamic discussions with business pioneers about emerging trends in finance, life insurance, asset management, technology, and more.

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August 21, 202624 min

Ep. 151: Yen Bailout Shows the Failure of Keynesian Policies

Murphy explains the massive joint US/Japan operations to prop up the yen and draws lessons for the US. In short, massive government deficits and central bank easy money are not the path to prosperity. Murphy breaks down Japan's recent currency and bond market moves, including the yen falling to a 40-year low against the U.S. dollar and the intervention by Japanese authorities in the foreign exchange market. He reviews the scale of that intervention, compares it with earlier episodes, and explains how market participants may have responded afterward. He also examines Japan's inflation history, from years of deflation and very low inflation to the recent move above 2% and 3% CPI readings. He then turns to rising interest rates and bond yields in Japan and the U.S. and discusses the effects on financial institutions and the fiscal costs of higher debt servicing. Watch the video version of this episode here: https://youtu.be/cQeze5jjvVA Subscribe to our YouTube channel: https://bit.ly/3XXfmGS Follow us on Instagram: https://www.instagram.com/infineogroup Follow us on Twitter: https://www.twitter.com/infineogroup Learn more about Infineo at: https://www.infineo.io Audio Production by Podsworth Media - https://podsworth.com

August 14, 202657 min

Ep. 150: Can Capitalism Work in a Finite World?

A popular objection is that capitalism requires exponential growth, which is incompatible with a finite world. Bob critiques both premises. Related: - https://infineo.ai/resources/blog/Expectations-About-the-Future-Affect-Price-Today-Part-2-of-3 - https://mises.org/mises-daily/law-property-rights-and-air-pollution - https://www.youtube.com/watch?v=5CWHfPlXX14 - https://www.youtube.com/watch?v=U-zjYmq6B-c Watch the video version of this episode here: https://youtu.be/Je1UDsXFk3M Subscribe to our YouTube channel: https://bit.ly/3XXfmGS Follow us on Instagram: https://www.instagram.com/infineogroup Follow us on Twitter: https://www.twitter.com/infineogroup Learn more about Infineo at: https://www.infineo.io Audio Production by Podsworth Media - https://podsworth.com

August 7, 202629 min

Ep. 149: The Connection Between Government Budget Deficits & Inflation

Bob uses a recent tweet from Steve Keen to weigh in on an old controversy. Government deficits don't cause price inflation per se, but they often encourage the central bank to create more money, which is inflationary. The distinction matters: a deficit is a fiscal phenomenon, but the inflation mechanism requires monetary policy—specifically, central bank accommodation of government borrowing. Bob unpacks why Keynesians, Austrians, and MMT economists talk past each other on this question, and where each school gets the causation right and wrong. Related: - https://x.com/ProfSteveKeen/status/2083718398119166163 - https://cdn.mises.org/Making%20Economic%20Sense_3.pdf - https://mises.org/quarterly-journal-austrian-economics/deficit-myth-modern-monetary-theory-and-birth-peoples-economy - https://www.youtube.com/watch?v=oaUlKM1z4kI - https://link.springer.com/article/10.1023/A:1027301323209 Chapters: 0:00 — Intro 0:20 — Steve Keen's tweets on deficits + What deficits are (and are NOT) 6:00 — The role of the central bank: monetizing the deficit 9:40 — Why "deficits cause inflation" is imprecise 13:10 — MMT vs. Austrian economics on money printing 16:50 — Real constraints vs. fiscal constraints 20:05 — Can a government ever run out of money? 23:30 — Historical examples of deficit-driven inflation 27:00 — What Steve Keen gets right (and wrong) 29:35 — The takeaway: deficits, money, and your wallet Watch the video version of this episode here: https://youtu.be/jDMoPoX54mw Subscribe to our YouTube channel: https://bit.ly/3XXfmGS Follow us on Instagram: https://www.instagram.com/infineogroup Follow us on Twitter: https://www.twitter.com/infineogroup Learn more about Infineo at: https://www.infineo.io Audio Production by Podsworth Media - https://podsworth.com

July 31, 202624 min

Ep. 148: Why Mamdani Marts Will Hurt Poor New Yorkers

Bob explains the numerous flaws with NYC Mayor Mamdani's proposal to have government-run grocery stores sell key items at 30% below retail. Bob also explains the problem with a popular meme asking why people pay taxes if the government can just print money. MAMDANI MARTS — WHAT COULD GO WRONG? NYC Mayor Mamdani wants to open five city-run grocery stores selling a core set of items at 30% below typical retail prices. It sounds like a win for struggling New Yorkers — but the economics tell a very different story. Bob walks through the cascade of problems this creates: - The Competition Problem - The "Savings" Illusion - The Shelf-Stripping Problem - Who Actually Benefits? - The Opportunity Cost - Better Alternatives Exist Bob then responds to a Libertarian Party-retweeted image asking why people pay taxes if government can print money, warning it echoes MMT-style misconceptions: at current spending levels, replacing taxation with money printing would trigger massive inflation and currency collapse, similar to financing everything by borrowing without taxation. He cites the Fed's balance-sheet expansion during COVID and the ensuing high inflation to illustrate limits of monetary financing. Watch the video version of this episode here: https://youtu.be/U9p7sJjQOvY Subscribe to our YouTube channel: https://bit.ly/3XXfmGS Follow us on Instagram: https://www.instagram.com/infineogroup Follow us on Twitter: https://www.twitter.com/infineogroup Learn more about Infineo at: https://www.infineo.io Audio Production by Podsworth Media - https://podsworth.com

July 24, 202639 min

Ep. 147: The Myth of "Wildcat Banks" in US History

Bob draws on three clips from a popular video discussing the banking sector, pre- and post-Fed. Bob dispels myths about the "wildcat" banks of the so-called Free Banking era, and shows that the Fed clearly led to more economic instability (as well as inflation). Related: - https://www.youtube.com/watch?v=z4uTadogtI4 - https://infineo.ai/podcast/100 - https://www.minneapolisfed.org/research/quarterly-review/free-banking-wildcat-banking-and-shinplasters - https://infineo.ai/resources/blog/does-history-show-government-debt-paydown-causes-a-crash - https://www.fte.org/wp-content/uploads/WhiteSelginLastrapesFed1.pdf Watch the video version of this episode here: https://youtu.be/U9p7sJjQOvY Subscribe to our YouTube channel: https://bit.ly/3XXfmGS Follow us on Instagram: https://www.instagram.com/infineogroup Follow us on Twitter: https://www.twitter.com/infineogroup Learn more about Infineo at: https://www.infineo.io Audio Production by Podsworth Media - https://podsworth.com

July 17, 202646 min

Ep. 146: Alex Tabarrok on the Economic Analysis of Crime

Alex Tabarrok is a professor of economics at George Mason University. He joins Bob to discuss the problems with the typical economic analysis of crime, which (in the hands of Gary Becker) advocated increasing the punishment to bolster deterrence. Related: - https://marginalrevolution.com/marginalrevolution/2015/09/what-was-gary-beckers-biggest-mistake.html - https://www.goodreads.com/author/quotes/17285.Jane_Jacobs Watch the video version of this episode here: https://youtu.be/KQYX_hTk3Tg Subscribe to our YouTube channel: https://bit.ly/3XXfmGS Follow us on Instagram: https://www.instagram.com/infineogroup Follow us on Twitter: https://www.twitter.com/infineogroup Learn more about Infineo at: https://www.infineo.io Audio Production by Podsworth Media - https://podsworth.com

July 10, 202629 min

Ep. 145: Sorry Mamdani, Rent Control Doesn't Work

Spurred by the NYC rent freeze, Bob lays out the theory and history of rent control, explaining why it hurts the people it ostensibly is supposed to help. He also shows why a "revisionist" paper actually confirms the textbook arguments against rent control. Related: - https://mason.gmu.edu/~atabarro/RentControl - https://sci-hub.st/10.1016/j.jue.2006.06.004 Watch the video version of this episode here: https://youtu.be/oxfG95w8x2Q Subscribe to our YouTube channel: https://bit.ly/3XXfmGS Follow us on Instagram: https://www.instagram.com/infineogroup Follow us on Twitter: https://www.twitter.com/infineogroup Learn more about Infineo at: https://www.infineo.io Audio Production by Podsworth Media - https://podsworth.com

July 3, 202633 min

Ep. 144: The Gold Standard Did NOT Cause the Great Depression

Using the 2009 testimony of Brad DeLong as a foil, Bob defends the gold standard from the typical accusation that it was responsible for the Great Depression. Bob shows that even after leaving gold, both the UK and US remain mired with double-digit unemployment for longer than prior depressions had lasted. Related: - https://infineo.ai/resources/blog/Did-Gold-Cause-the-Great-Depression - https://fee.org/articles/the-depression-youve-never-heard-of-1920-1921 Watch the video version of this episode here: https://youtu.be/wt0rAynxgGc Subscribe to our YouTube channel: https://bit.ly/3XXfmGS Follow us on Instagram: https://www.instagram.com/infineogroup Follow us on Twitter: https://www.twitter.com/infineogroup Learn more about Infineo at: https://www.infineo.io Audio Production by Podsworth Media - https://podsworth.com

June 26, 202624 min

Ep. 143: Alan Greenspan's Fed Fueled the Housing Bubble

Bob presents several lines of evidence to argue that the Federal Reserve under Alan Greenspan helped fuel the housing bubble in the early to mid-2000s. He also pushes back against the claim that it was an Asian savings glut to blame. Related: - https://cdn.mises.org/understanding_money_mechanics_with_cover_image_attached.pdf - https://mises.org/mises-daily/did-fed-or-asian-saving-cause-housing-bubble - https://mises.org/mises-daily/krugmans-call-housing-bubble - https://www.cato.org/briefing-paper/greenspans-monetary-policy-retrospect - https://mises.org/mises-daily/worst-recession-25-years Watch the video version of this episode here: https://youtu.be/mRAZ6HuO0b4 Subscribe to our YouTube channel: https://bit.ly/3XXfmGS Follow us on Instagram: https://www.instagram.com/infineogroup Follow us on Twitter: https://www.twitter.com/infineogroup Learn more about Infineo at: https://www.infineo.io Audio Production by Podsworth Media - https://podsworth.com

June 19, 202646 min

Ep. 142: Detailing Dube's Dubious Defense of Minimum Wage Hikes

Bob goes through a recent Substack post (adapted from his book) by Arin Dube, a leading economist pushing for aggressive minimum wage hikes. Bob shows the weaknesses in Dube's results, and gives an alternative measure detailing just how chilling minimum wage hikes may be on teen employment. Related: - https://arindube.substack.com/p/a-minimum-wage-natural-experiment - https://www.econlib.org/library/Columns/y2014/Murphyminimumwage.html Watch the video version of this episode here: https://youtu.be/VmDrwERlWxc Subscribe to our YouTube channel: https://bit.ly/3XXfmGS Follow us on Instagram: https://www.instagram.com/infineogroup Follow us on Twitter: https://www.twitter.com/infineogroup Learn more about Infineo at: https://www.infineo.io Audio Production by Podsworth Media - https://podsworth.com