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Murray Rothbard (1926 – 1995)


American economist and political author.
Murray Rothbard
The libertarian creed, finally, offers the fulfillment of the best of the American past along with the promise of a far better future. Even more than conservatives... libertarians are squarely in the great classical liberal tradition that built the United States and bestowed on us the American heritage of individual liberty, a peaceful foreign policy, minimal government, and a free-market economy.
Rothbard quotes
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.
Rothbard
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.




Rothbard Murray quotes
I define anarchist society as one where there is no legal possibility for coercive aggression against the person or property of any individual. Anarchists oppose the State because it has its very being in such aggression, namely, the expropriation of private property through taxation, the coercive exclusion of other providers of defense service from its territory, and all of the other depredations and coercions that are built upon these twin foci of invasions of individual rights.
Rothbard Murray
All interstate wars intensify aggression – maximize it … some wars are even more unjust than others. In other words, all government wars are unjust, although some governments have less unjust claims…
Murray Rothbard quotes
Money ... is the nerve center of the economic system. If, therefore, the state is able to gain unquestioned control over the unit of all accounts, the state will then be in a position to dominate the entire economic system, and the whole society.
Murray Rothbard
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.
Rothbard Murray quotes
Harold, the young kids out there are not going to be willing to go to the barricades in defense of lowered transaction costs.
Rothbard
Inflation may be defined as any increase in the economy's supply of money not consisting of an increase in the stock of the money metal.
Rothbard Murray
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.
Murray Rothbard
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.




Murray Rothbard quotes
It doesn't matter what the supply of money is.
Murray Rothbard
There is one good thing about Marx: he was not a Keynesian.
Rothbard quotes
Money is a commodity ... not a useless token only good for exchanging; ... It differs from other commodities in being demanded mainly as a medium of exchange.
Rothbard Murray
The cumulative development of a medium of exchange on the free market — is the only way money can become established. ... government is powerless to create money for the economy; it can only be developed by the processes of the free market.
Rothbard Murray quotes
The problem is that he originated nothing that was true, and that whatever he originated was wrong.
Murray Rothbard
Rights may be universal, but their enforcement must be local.
Murray Rothbard quotes
The more consistently Austrian School an economist is, the better a writer he will be.
Murray Rothbard
Freedom can run a monetary system as superbly as it runs the rest of the economy. Contrary to many writers, there is nothing special about money that requires extensive governmental dictation.
Rothbard Murray
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.


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