Murphy is research assistant professor with the Free Market Institute at Texas Tech University.

[2] Murphy is research assistant professor with the Free Market Institute at Texas Tech University.

[8] Murphy has written books such as Choice: Cooperation, Enterprise, and Human Action (Independent Institute, 2015),[9] Primal Prescription with Doug McGuff, MD regarding healthcare in the United States,[10] and Lessons for the Young Economist (Mises Institute 2010).

[11] He has written study guides to works of Ludwig von Mises and Murray Rothbard.

[12][non-primary source needed] Murphy has been criticized by economists Brad DeLong and Paul Krugman for predicting that the quantitative easing practiced by the Federal Reserve in the late 2000s would create double-digit inflation and economic ruin by 2013, and notes that he lost the bet.