Role of oil prices and Fed policy in 2008 crisis debated, Robert P. Murphy argues

Role of oil prices and Fed policy in 2008 crisis debated, Robert P. Murphy argues
Oil and Fed role in 2008 crisis

Robert P. Murphy discusses a recent theory from Alan Reynolds suggesting that high oil prices and a tight Federal Reserve policy, rather than the housing market collapse, were the main causes of the 2008 financial crisis.

He responds to Reynolds’s view and indicates he offers further analysis in a linked piece.

Murphy has previously analyzed the relationship between personal wealth and food security, noting how a combined $10 million net worth could fund significant meals. In another article, he reviewed research indicating that state minimum wage increases had negligible effects on employment. His recent commentary continues a focus on re-examining widely held economic assumptions.

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