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Robert Murphy

Robert Murphy has 1 articles published.

Robert Murphy
Robert P. Murphy is research assistant professor with the Free Market Institute at Texas Tech University and a Research Fellow at the Independent Institute. He is the author of Choice: Cooperation, Enterprise, and Human Action (Independent Institute 2015) and co-host with Tom Woods of the popular podcast Contra Krugman.
Economics

Airbnb: Regulation Without Government

Does Airbnb allow landlords to run unregulated hotels? A January report from the American Hotel and Lodging Association says yes: “From Air Mattresses to Unregulated Business: An Analysis of the Other Side of Airbnb.” But the terms chosen for the report assume a choice between political regulation and no regulation. This is a false choice. Not only is private regulation possible, but we have every reason to prefer it to political regulation.  The market process generates countless mechanisms to “regulate” business transactions. Once we know what to look for, we see that not only is private regulation possible, but we have every reason to prefer it to political regulation. The case of Airbnb is a perfect example. During my recent participation in the “Free Market Road Show” in Europe, I was on a panel discussing the sharing economy. In context, it became clear that the other panelists and I were supposed to contrast the benefits of operations such as Uber and Airbnb with the potential downsides. An audience member… Keep Reading

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