Murray Rothbard - Revision history

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	==Links==		==Links==
			* [https://freecapitalists.org/authors/murray-n-rothbard/ Author page and works at the Liberty Archive]
	{{wikiquote}}		{{wikiquote}}
	* Biography		* Biography

Pestergaines: /* Free market money */ Direct link instead of the redirect.

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Free market money: Direct link instead of the redirect.

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	===Free market money===		===Free market money===
	{{See also\|Free banking\|Gold standard\|~~Debt-based monetary system~~}}		{{See also\|Free banking\|Gold standard\|Criticism of fractional reserve banking}}
	Rothbard believed the [[monopoly power]] of government over the issuance and distribution of [[money]] was inherently destructive and unethical. The belief derived from [[Ludwig von Mises]] and [[Friedrich Hayek]]'s [[Austrian Business Cycle Theory\|Austrian theory]] of the [[business cycle]], which holds that undue [[credit expansion]] inevitably leads to a gross misallocation of capital resources, triggering unsustainable [[credit bubble]]s and, eventually, [[economic depression]]s. He therefore strongly opposed [[central banking]] and [[fractional reserve banking]] under a [[fiat money]] system, labeling it as "legalized counterfeiting"<ref>[http://www.fff.org/freedom/0999c.asp The Case for a 100% Gold Dollar], Murray Rothbard</ref> or a form of institutionalized [[embezzlement]] and therefore inherently [[fraud]]ulent.<ref>"It should be clear that modern [[fractional reserve banking]] is a [[shell game]], a [[Ponzi scheme]], a [[fraud]] in which fake warehouse receipts are issued and circulate as equivalent to the cash supposedly represented by the receipt." Rothbard, Murray. [http://www.mises.org/Books/mysteryofbanking.pdf ''The Mystery of Banking''], pp. 96-97, 89-94</ref><ref name="What is Money">[http://www.lewrockwell.com/north/north769.html What is Money?], [[Gary North]]</ref> He characterized the government-enforced prohibition on citizens using [[gold as money\|commodity currencies]] as legal tender a compulsory [[Ponzi scheme]], a [[Ponzi scheme]] from which no citizen could escape.<ref name="What is Money"/><ref>Rothbard, Murray. [http://www.mises.org/Books/mysteryofbanking.pdf ''The Mystery of Banking''], pp. 96-97, 89-94</ref>		Rothbard believed the [[monopoly power]] of government over the issuance and distribution of [[money]] was inherently destructive and unethical. The belief derived from [[Ludwig von Mises]] and [[Friedrich Hayek]]'s [[Austrian Business Cycle Theory\|Austrian theory]] of the [[business cycle]], which holds that undue [[credit expansion]] inevitably leads to a gross misallocation of capital resources, triggering unsustainable [[credit bubble]]s and, eventually, [[economic depression]]s. He therefore strongly opposed [[central banking]] and [[fractional reserve banking]] under a [[fiat money]] system, labeling it as "legalized counterfeiting"<ref>[http://www.fff.org/freedom/0999c.asp The Case for a 100% Gold Dollar], Murray Rothbard</ref> or a form of institutionalized [[embezzlement]] and therefore inherently [[fraud]]ulent.<ref>"It should be clear that modern [[fractional reserve banking]] is a [[shell game]], a [[Ponzi scheme]], a [[fraud]] in which fake warehouse receipts are issued and circulate as equivalent to the cash supposedly represented by the receipt." Rothbard, Murray. [http://www.mises.org/Books/mysteryofbanking.pdf ''The Mystery of Banking''], pp. 96-97, 89-94</ref><ref name="What is Money">[http://www.lewrockwell.com/north/north769.html What is Money?], [[Gary North]]</ref> He characterized the government-enforced prohibition on citizens using [[gold as money\|commodity currencies]] as legal tender a compulsory [[Ponzi scheme]], a [[Ponzi scheme]] from which no citizen could escape.<ref name="What is Money"/><ref>Rothbard, Murray. [http://www.mises.org/Books/mysteryofbanking.pdf ''The Mystery of Banking''], pp. 96-97, 89-94</ref>

Karmaisking: /* Free market money */

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Free market money

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	===Free market money===		===Free market money===
	{{See also\|Free banking\|Gold standard}}		{{See also\|Free banking\|Gold standard\|Debt-based monetary system}}
	Rothbard believed the [[monopoly power]] of government over the issuance and distribution of [[money]] was inherently destructive and unethical. The belief derived from [[Ludwig von Mises]] and [[Friedrich Hayek]]'s [[Austrian Business Cycle Theory\|Austrian theory]] of the [[business cycle]], which holds that undue [[credit expansion]] inevitably leads to a gross misallocation of capital resources, triggering unsustainable [[credit bubble]]s and, eventually, [[economic depression]]s. He therefore strongly opposed [[central banking]] and [[fractional reserve banking]] under a [[fiat money]] system, labeling it as "legalized counterfeiting"<ref>[http://www.fff.org/freedom/0999c.asp The Case for a 100% Gold Dollar], Murray Rothbard</ref> or a form of institutionalized [[embezzlement]] and therefore inherently [[fraud]]ulent.<ref>"It should be clear that modern [[fractional reserve banking]] is a [[shell game]], a [[Ponzi scheme]], a [[fraud]] in which fake warehouse receipts are issued and circulate as equivalent to the cash supposedly represented by the receipt." Rothbard, Murray. [http://www.mises.org/Books/mysteryofbanking.pdf ''The Mystery of Banking''], pp. 96-97, 89-94</ref><ref name="What is Money">[http://www.lewrockwell.com/north/north769.html What is Money?], [[Gary North]]</ref> He characterized the government-enforced prohibition on citizens using [[gold as money\|commodity currencies]] as legal tender a compulsory [[Ponzi scheme]], a [[Ponzi scheme]] from which no citizen could escape.<ref name="What is Money"/><ref>Rothbard, Murray. [http://www.mises.org/Books/mysteryofbanking.pdf ''The Mystery of Banking''], pp. 96-97, 89-94</ref>		Rothbard believed the [[monopoly power]] of government over the issuance and distribution of [[money]] was inherently destructive and unethical. The belief derived from [[Ludwig von Mises]] and [[Friedrich Hayek]]'s [[Austrian Business Cycle Theory\|Austrian theory]] of the [[business cycle]], which holds that undue [[credit expansion]] inevitably leads to a gross misallocation of capital resources, triggering unsustainable [[credit bubble]]s and, eventually, [[economic depression]]s. He therefore strongly opposed [[central banking]] and [[fractional reserve banking]] under a [[fiat money]] system, labeling it as "legalized counterfeiting"<ref>[http://www.fff.org/freedom/0999c.asp The Case for a 100% Gold Dollar], Murray Rothbard</ref> or a form of institutionalized [[embezzlement]] and therefore inherently [[fraud]]ulent.<ref>"It should be clear that modern [[fractional reserve banking]] is a [[shell game]], a [[Ponzi scheme]], a [[fraud]] in which fake warehouse receipts are issued and circulate as equivalent to the cash supposedly represented by the receipt." Rothbard, Murray. [http://www.mises.org/Books/mysteryofbanking.pdf ''The Mystery of Banking''], pp. 96-97, 89-94</ref><ref name="What is Money">[http://www.lewrockwell.com/north/north769.html What is Money?], [[Gary North]]</ref> He characterized the government-enforced prohibition on citizens using [[gold as money\|commodity currencies]] as legal tender a compulsory [[Ponzi scheme]], a [[Ponzi scheme]] from which no citizen could escape.<ref name="What is Money"/><ref>Rothbard, Murray. [http://www.mises.org/Books/mysteryofbanking.pdf ''The Mystery of Banking''], pp. 96-97, 89-94</ref>

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Links: added

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	*** {{md\|2551\|Murray N. Rothbard: In Memoriam\|[[Robert Higgs]]\|June 2007}}		*** {{md\|2551\|Murray N. Rothbard: In Memoriam\|[[Robert Higgs]]\|June 2007}}
	*** ''Murray N. Rothbard: In Memoriam'' ([http://mises.org/books/memoriam.pdf PDF]) Ed. [[Lew Rockwell\|Llewellyn H. Rockwell, Jr.]] 1995		*** ''Murray N. Rothbard: In Memoriam'' ([http://mises.org/books/memoriam.pdf PDF]) Ed. [[Lew Rockwell\|Llewellyn H. Rockwell, Jr.]] 1995
			** [http://www.wendymcelroy.com/rockwell/mcelroy000706.html "Murray N. Rothbard: Mr. Libertarian"] by [[Wendy McElroy]] July 2000

	* Interviews and debates		* Interviews and debates
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	** [http://daviddfriedman.blogspot.com/2011/06/murray-rothbard-on-me-and-vice-versa.html "Murray Rothbard on Me and Vice Versa"] by [[David D. Friedman\|David Friedman]], June 2011		** [http://daviddfriedman.blogspot.com/2011/06/murray-rothbard-on-me-and-vice-versa.html "Murray Rothbard on Me and Vice Versa"] by [[David D. Friedman\|David Friedman]], June 2011
	** [http://notreason.com/2009/06/08/murray-rothbard-on-chomsky-left-anarchists/ "Murray Rothbard on Chomsky, Left Anarchists"] (from ''[[The Libertarian Forum]]'', June 1971 ([http://mises.org/journals/lf/1971/1971_06.pdf PDF])		** [http://notreason.com/2009/06/08/murray-rothbard-on-chomsky-left-anarchists/ "Murray Rothbard on Chomsky, Left Anarchists"] (from ''[[The Libertarian Forum]]'', June 1971 ([http://mises.org/journals/lf/1971/1971_06.pdf PDF])


	* Other media		* Other media

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Noninterventionism: +link

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	===Noninterventionism===		===Noninterventionism===
	Believing like [[Randolph Bourne]] that "war is the health of the state" Rothbard opposed aggressive foreign policy. He criticized imperialism and the rise of the American empire which needed war to sustain itself and to expand its global control. His dislike of U.S. imperialism even led him to eulogize and lament the [[CIA]]-assisted execution of [[Marxist]] revolutionary [[Che Guevara]] in 1967, proclaiming that "his enemy was our enemy".<ref>[http://mises.org/journals/lar/pdfs/3_3/3_3_1.pdf ''Ernesto Che Guevara R.I.P.''] by Murray Rothbard, Left and Right: A Journal of Libertarian Thought, Volume 3, Number 3 (Spring-Autumn 1967)</ref> Rothbard believed that stopping new wars was necessary and knowledge of how government had seduced citizens into earlier wars was important. Two essays expanded on these views "War, Peace, and the State" and "The Anatomy of the State". Rothbard used insights of the [[elitism]] theorists [[Vilfredo Pareto]], [[Gaetano Mosca]], and [[Robert Michels]] to build a model of state personnel, goals, and ideology.<ref>Joseph R. Stromberg, [http://antiwar.com/stromberg/?articleid=4296 Murray Rothbard on States, War, and Peace: Part I] (also see [http://www.antiwar.com/stromberg/?articleid=4420 Part II]), [[Antiwar.com]], originally published June 2000.</ref><ref>See both essays, Murray N. Rothbard, [http://www.lewrockwell.com/rothbard/rothbard26.html War, Peace, and the State], first published 1963; [http://www.lewrockwell.com/rothbard/rothbard62.html Anatomy of the State], first published 1974, both at [[LewRockwell.com]].</ref> In an obituary for historian [[Harry Elmer Barnes]] Rothbard explained why historical knowledge is important:<ref>Murray N. Rothbard, [http://www.lewrockwell.com/rothbard/rothbard165.html Harry Elmer Barnes, RIP], from "Left and Right" final issue, 1968, republished at [[LewRockwell.com]].</ref>		Believing like [[Randolph Bourne]] that "war is the health of the state" Rothbard opposed aggressive foreign policy. He criticized imperialism and the rise of the American empire which needed war to sustain itself and to expand its global control. His dislike of U.S. imperialism even led him to eulogize and lament the [[CIA]]-assisted execution of [[Marxist]] revolutionary [[Che Guevara]] in 1967, proclaiming that "his enemy was our enemy".<ref>[http://mises.org/journals/lar/pdfs/3_3/3_3_1.pdf ''Ernesto Che Guevara R.I.P.''] by Murray Rothbard, Left and Right: A Journal of Libertarian Thought, Volume 3, Number 3 (Spring-Autumn 1967)</ref> Rothbard believed that stopping new wars was necessary and knowledge of how government had seduced citizens into earlier wars was important. Two essays expanded on these views "War, Peace, and the State" and "[[The Anatomy of the State]]". Rothbard used insights of the [[elitism]] theorists [[Vilfredo Pareto]], [[Gaetano Mosca]], and [[Robert Michels]] to build a model of state personnel, goals, and ideology.<ref>Joseph R. Stromberg, [http://antiwar.com/stromberg/?articleid=4296 Murray Rothbard on States, War, and Peace: Part I] (also see [http://www.antiwar.com/stromberg/?articleid=4420 Part II]), [[Antiwar.com]], originally published June 2000.</ref><ref>See both essays, Murray N. Rothbard, [http://www.lewrockwell.com/rothbard/rothbard26.html War, Peace, and the State], first published 1963; [http://www.lewrockwell.com/rothbard/rothbard62.html Anatomy of the State], first published 1974, both at [[LewRockwell.com]].</ref> In an obituary for historian [[Harry Elmer Barnes]] Rothbard explained why historical knowledge is important:<ref>Murray N. Rothbard, [http://www.lewrockwell.com/rothbard/rothbard165.html Harry Elmer Barnes, RIP], from "Left and Right" final issue, 1968, republished at [[LewRockwell.com]].</ref>

	{{quote\|Our entry into World War II was the crucial act in foisting a permanent militarization upon the economy and society, in bringing to the country a permanent garrison state, an overweening military-industrial complex, a permanent system of conscription. It was the crucial act in creating a mixed economy run by Big Government, a system of state-monopoly capitalism run by the central government in collaboration with Big Business and Big Unionism.}}		{{quote\|Our entry into World War II was the crucial act in foisting a permanent militarization upon the economy and society, in bringing to the country a permanent garrison state, an overweening military-industrial complex, a permanent system of conscription. It was the crucial act in creating a mixed economy run by Big Government, a system of state-monopoly capitalism run by the central government in collaboration with Big Business and Big Unionism.}}

Pestergaines: +link

2011-09-21T18:00:49Z

+link

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	His support for nonintervention in foreign policy led him to champion the [[Old Right (United States)\|Old Right]]. [[John T. Flynn]]<ref name="Raimondo_Flynn">Justin Raimondo. [http://mises.org/story/2890 "Who is John T. Flynn?"], ''[[Mises Institute]]'', referenced 2009-05-27.</ref>, [[Garet Garrett]]<ref name="Tucker_Garett">Jeffrey A. Tucker. [http://mises.org/story/2751 "Who Is Garet Garrett?"], ''[[Mises Institute]]'', referenced 2009-05-27.</ref> and other pre-World War II "isolationists" shared Rothbard’s belief in the close connection between state power and bellicose foreign policy.		His support for nonintervention in foreign policy led him to champion the [[Old Right (United States)\|Old Right]]. [[John T. Flynn]]<ref name="Raimondo_Flynn">Justin Raimondo. [http://mises.org/story/2890 "Who is John T. Flynn?"], ''[[Mises Institute]]'', referenced 2009-05-27.</ref>, [[Garet Garrett]]<ref name="Tucker_Garett">Jeffrey A. Tucker. [http://mises.org/story/2751 "Who Is Garet Garrett?"], ''[[Mises Institute]]'', referenced 2009-05-27.</ref> and other pre-World War II "isolationists" shared Rothbard’s belief in the close connection between state power and bellicose foreign policy.

	The situation was quite otherwise with postwar conservatism. Although Rothbard was an early contributor to [[William F. Buckley, Jr.\|William Buckley]]’s [[National Review]], he rejected the aggressive pursuit of the Cold War advocated by Buckley and such members of his editorial staff as [[James Burnham]] and [[Frank S. Meyer]]. He broke with these self-styled conservatives and thereafter became one of their strongest opponents. For similar reasons, he condemned their [[Neoconservatism\|neoconservative]] successors. He followed a pragmatic policy of temporary alliances with whatever groups were, at a given time, opposed to militarism and foreign adventures. He set forward the basis for his political stance in a key essay, "[[Left and Right: The Prospects for Liberty]]". This appeared in an important scholarly journal, [[Left and Right: A Journal of Libertarian Thought\|Left and Right]] ([http://mises.org/journals/left-right.asp main page]), which he established. This contained major essays on revisionist history and foreign policy, but unfortunately lasted only from 1965-1968.		The situation was quite otherwise with postwar conservatism. Although Rothbard was an early contributor to [[William F. Buckley, Jr.\|William Buckley]]’s [[National Review]], he rejected the aggressive pursuit of the Cold War advocated by Buckley and such members of his editorial staff as [[James Burnham]] and [[Frank S. Meyer]]. He broke with these self-styled conservatives and thereafter became one of their strongest opponents. For similar reasons, he condemned their [[Neoconservatism\|neoconservative]] successors. He followed a pragmatic policy of temporary alliances with whatever groups were, at a given time, opposed to militarism and foreign adventures. He set forward the basis for his political stance in a key essay, "[[Left and Right: The Prospects for Liberty]]". This appeared in an important scholarly journal, [[Left and Right: A Journal of Libertarian Thought\|Left and Right]] ([http://mises.org/journals/left-right.asp main page]), which he established. This contained major essays on [[Historical revisionism\|revisionist history]] and foreign policy, but unfortunately lasted only from 1965-1968.

	In an effort to widen the influence of libertarian thought in the academic world, Rothbard founded the [[Journal of Libertarian Studies]] ([http://mises.org/periodical.aspx?Id=3 main page]) in 1977. The journal began auspiciously with a symposium on Robert Nozick’s [[Anarchy, State, and Utopia]]. Down to the present, it has remained the most important journal hospitable to libertarian ideas.		In an effort to widen the influence of libertarian thought in the academic world, Rothbard founded the [[Journal of Libertarian Studies]] ([http://mises.org/periodical.aspx?Id=3 main page]) in 1977. The journal began auspiciously with a symposium on Robert Nozick’s [[Anarchy, State, and Utopia]]. Down to the present, it has remained the most important journal hospitable to libertarian ideas.

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	** [http://mises.org/content/mnrasidof.asp A Scholar in Defense of Freedom], a bibliographic essay		** [http://mises.org/content/mnrasidof.asp A Scholar in Defense of Freedom], a bibliographic essay
	** [http://murrayrothbard.com/category/about/ Reflections on Murray Rothbard]		** [http://murrayrothbard.com/category/about/ Reflections on Murray Rothbard]
	*** Tributes and Essays to Rothbard by [http://mises.org/content/blockonmnr.asp Walter Block], [http://mises.org/etexts/hhhonmnr.asp Hans Hoppe], [http://mises.org/web/2013 Lew Rockwell] ~~and~~ [http://mises.org/article.aspx?Id=1708 Jeffrey A. Tucker]		*** Tributes and Essays to Rothbard by [http://mises.org/content/blockonmnr.asp Walter Block], [http://mises.org/etexts/hhhonmnr.asp Hans Hoppe], [http://mises.org/web/2013 Lew Rockwell], [http://mises.org/article.aspx?Id=1708 Jeffrey A. Tucker], and [http://mises.org/daily/4959 Joseph Salerno]
	*** {{md\|4074\|Rothbard the Teacher\|[[Doug French]]\|May 1995}}		*** {{md\|4074\|Rothbard the Teacher\|[[Doug French]]\|May 1995}}
			*** {{md\|2551\|Murray N. Rothbard: In Memoriam\|[[Robert Higgs]]\|June 2007}}
			*** ''Murray N. Rothbard: In Memoriam'' ([http://mises.org/books/memoriam.pdf PDF]) Ed. [[Lew Rockwell\|Llewellyn H. Rockwell, Jr.]] 1995