Murray Rothbard Quotes

American economist (1926–1995)

Murray Newton Rothbard (2 March 1926 – 7 January 1995) was an American economist of the Austrian School, an historian of both economic thought and American history, and a political philosopher whose writings and personal influence played a seminal role in the development of modern libertarianism. Rothbard was the founder and leading theoretician of anarcho-capitalism, a staunch advocate of natural law, and a central figure in the twentieth-century American libertarian movement. He was the author of over twenty books on anarchist theory, history, economics, and other subjects.

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Birth Name: Murray Newton Rothbard

Alternative Names: Murray N. Rothbard

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There is one good thing about Marx: he was not a Keynesian.

In short, the early receivers of the new money in this market chain of events gain at the expense of those who receive the money toward the end of the chain, and still worse losers are the people (e.g., those on fixed incomes such as annuities, interest, or pensions) who never receive the new money at all.

This, by the way, is the welfare state in action: Its a whole bunch of special interest groups screwing consumers and taxpayers, and making them think they're really benefiting.

So: if the chronic inflation undergone by Americans, and in almost every other country, is caused by the continuing creation of new money, and if in each country its governmental "Central Bank" (in the United States, the Federal Reserve) is the sole monopoly source and creator of all money, who then is responsible for the blight of inflation? Who except the very institution that is solely empowered to create money, that is, the Fed (and the Bank of England, and the Bank of Italy, and other central banks) itself?

Behind the honeyed but patently absurd pleas for equality is a ruthless drive for placing themselves (the elites) at the top of a new hierarchy of power.

Harold, the young kids out there are not going to be willing to go to the barricades in defense of lowered transaction costs.

If ‘we are the government,’ then anything a government does to an individual is not only just and untyrannical; it is also ‘voluntary’ on the part of the individual concerned… if the government conscripts a man, or throws him into jail for dissident opinion, then he is ‘doing it to himself’ and therefore nothing untoward has occurred. Under this reasoning, any Jews murdered by the Nazi government were not murdered, instead, they must have ‘committed suicide,’ since they were the government (which was democratically chosen), and therefore anything the government did to them was voluntary on their part… the overwhelming bulk of the people hold this fallacy to a greater or less degree.