Murray Rothbard Quotes

The clear and logical thinker will always be an 'extremist', and will therefore always be interesting: his pitafall is to go wildly into error. But on the other hand, while the orthodox 'middle-of-the-road' thinker will never get that far wrong, neither will he ever contribute anything either, aside from being generally deadly dull.

The more consistently Austrian School an economist is, the better a writer he will be.

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?

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.

All my life, it seems, I have hated the guts of Max Lerner. Now, make no mistake: there is nothing personal in this rancor. I have never met, nor have I ever had any personal dealings with, Max. No, my absolute loathing for Max Lerner is disinterested, cosmic in its grandeur. It's just that ever since I was a toddler, this ugly homunculus, this pretentious jackass, has been there, towering over the American ideological scene. In the fifty-five years that I have been aware of Max's presence, in all of his many permutations and combinations and seeming twists and turns, he has taken the totally repellent position at every step of the way.

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

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.

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.

Money is different from all other commodities: other things being equal, more shoes, or more discoveries of oil or copper benefit society, since they help alleviate natural scarcity. But once a commodity is established as a money on the market, no more money at all is needed. Since the only use of money is for exchange and reckoning, more dollars or pounds or marks in circulation cannot confer a social benefit: they will simply dilute the exchange value of every existing dollar or pound or mark. So it is a great boon that gold or silver are scarce and are costly to increase in supply. But if government manages to establish paper tickets or bank credit as money, as equivalent to gold grams or ounces, then the government, as dominant money-supplier, becomes free to create money costlessly and at will. As a result, this 'inflation' of the money supply destroys the value of the dollar or pound, drives up prices, cripples economic calculation, and hobbles and seriously damages the workings of the market economy.

It is no crime to be ignorant of economics, which is, after all, a specialized discipline and one that most people consider to be a 'dismal science.' But it is totally irresponsible to have a loud and vociferous opinion on economic subjects while remaining in this state of ignorance.

Rights may be universal, but their enforcement must be local.

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

It is the state that is robbing all classes, rich and poor, black and white alike; it is the state that is ripping us all off; it is the state that is the common enemy of mankind.

The fundamental political question is why do people obey a government. The answer is that they tend to enslave themselves, to let themselves be governed by tyrants. Freedom from servitude comes not from violent action, but from the refusal to serve. Tyrants fall when the people withdraw their support.

Briefly, the State is that organization in society which attempts to maintain a monopoly of the use of force and violence in a given territorial area; in particular, it is the only organization in society that obtains its revenue not by voluntary contribution or payment for services rendered but by coercion.