In a talk open to students, faculty and the general public, Dr. Robert P. Murphy will explain the so-called "Austrian" theory of the business cycle, in particular how it relates to the housing bust of 2007-08 and the likely effects of the Fed's extraordinary interventions since the financial crisis. Murphy will argue that interest rates serve a crucial function in a market economy, communicating vital information about the amount of savings and various investment projects. When the housing bubble popped and crisis occurred in 2008, central banks around the world engaged in unprecedented "stimulus." Since then, the U.S. stock market has moved in lock-step with the Fed's balance sheet, suggesting that another crash may be in the cards.Dr. Murphy is a Research Fellow at the Independent Institute, Associated Scholar at the Mises Institute and Senior Economist with the Institute for Energy Research. He received his Ph.D. in economics from New York University and he has taught at Hillsdale College and New York University.Dr. Murphy is author of the books Lessons for the Young Economist, The Politically Incorrect Guide to the Great Depression and the New Deal, The Politically Incorrect Guide to Capitalism as well as his newest book: Choice, Cooperation, Enterprise, and Human Action.His articles and reviews have appeared in a range of scholarly journals and prominent media outlets. In addition, he has appeared on CNBC, Fox Business Network, C-SPAN, and other TV and radio networks and programs.