Hail Bob Murphy
By Bryan Caplan
This is frankly deplorable. Bob deserves far more respect than everyone who claimed to know the future rate of inflation but failed to put their money or reputation on the line. Per my Bettor’s Oath:
When I win a bet, I will not shame my opponent, for a betting loser has
far more honor than the mass of men who live by loose and idle talk.
Bob deserves extra praise for not claiming that he was “really right” or that “bets don’t mean anything.” Instead, he concludes: “[C]learly the lesson here is: Don’t make bets with a guy who was studying the Fed before I was born.” Admirable, though the real lesson to draw is simply “Don’t bet against the TIPS market.”