I attempt to understand one of the examples of the application of Noether theorem given in Peskin & Schroeder's An Introduction to Quantum Field Theory (Page no. 18, Student Economy Edition). The relevant portion of the text is given below.
If I understand the derivation and the corresponding discussion here properly, then it was assumed that the Lagrangian density $\mathcal{L}$ satisfies the Euler-Lagrange equation: $$\frac{\partial\mathcal{L}}{\partial\phi} = \partial_{\mu}\left[\frac{\partial\mathcal{L}}{\partial(\partial_{\mu}\phi)}\right].$$
My Confusion: I don't see how $\mathcal{L} = \frac{1}{2} (\partial_{\mu} \phi)^2$ satisfies the Euler-Lagrange equation. Because on the left hand side, I get $\frac{\partial\mathcal{L}}{\partial\phi} = 0$, and on the right hand side, I get $\partial_{\mu}\left[\frac{\partial\mathcal{L}}{\partial(\partial_{\mu}\phi)}\right] = \partial_{\mu} \partial^{\mu} \phi.$ If the given $\mathcal{L}$ doesn't satisfy the Euler-Lagrange equation, then how Peskin & Schroeder's formulation can be applied to this case? What am I missing here?