Northern Londoners were linked to moves to Italy and Brazil in the summer.
Spanish boss Mauricio Poetotino did not end with the signing of any man, and Georgiou goes to Chelsea and Fred to join Manchester United.
No man was glowing for their new clubs, which did not appear unnoticed by Murphy.
"I do not know who could sign last summer to help them," said the former English international for his old page in the Daily Mail column. "Chelsea's Georgino is a good player, but he would not have entered the Tottenham team and could not deal with Dale Ali in their individual battle last night.
"Fred's £ 50 million signing from Manchester United would not have strengthened Tottenham."
Tottenham did not bring any reinforcements in the summer, a decision that was very confusing.
Many Tottenham fans were disappointed by the club's failure to bolster the team and believe it would be detrimental to the hopes of their titles.
Murphy does not agree with that estimate and believes that the club will not benefit from bringing someone who was no better than the players at their disposal.
He added: "There was so much misfortune and darkness around the lack of transfer to Tottenham, but I did not see why.
"If you want to buy a top-center forward, he must be better than Harry Kane.
"If you want to sign a contract, he must be better than the Son who was brilliant against Chelsea.
"People think that buying more players is the answer to everything.
"It's not. It's also important to improve the players you already have and work with them.
"Think about the work that is not in the improvement of Musa Sisoko. He has his best magic in the Spurs shirt, like Eric Lamela.
"And when I see the bench, you will see why. Let's give the club some merit to give a chance to its young players and to build relationships.
"Do not always obsess with the next shiny toy available on the transfer market, often at an inflated price.
"I got a little stick to defend the strength of the Tottenham team, so now I'm almost happy as Daniel Levy."
The next trip to Tottenham will see Inter as Milan in their penultimate group game in the Champions League.
And on Sunday, they will take their bitter rivals Arsenal into the first North London derby of the season.