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The more the government intervenes to delay the market's adjustment, the longer and more grueling the depression will be, and the more difficult will be the road to complete recovery.

Murray Rothbard

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Murray Rothbard
Age: 68 †
Born: 1926
Born: March 2
Died: 1995
Died: January 7
Activist
Economist
Essayist
Historian
Philosopher
Professor
University Teacher
Writer
The Bronx
New York City
Murray Newton Rothbard
Murray N. Rothbard
Complete
Market
Road
Intervenes
Longer
Grueling
Difficult
Adjustment
Government
Delay
Recovery
Depression

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Monetary expansion is a massive scheme of hidden redistribution.
Murray Rothbard
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Positivism eliminates any kind of natural law principle - for example, that there are economic laws which can be transgressed only at your peril. With positivism, there is a tendency to leap into ad hoc economic theory.
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I see a great future for gold and silver coins as the currency people may increasingly turn to when paper currencies begin to disintegrate.
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Gold was not selected arbitrarily by governments to be the monetary standard. Gold had developed for many centuries on the free market as the best money as the commodity providing the most stable and desirable monetary medium.
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The greatest danger to the State is independent intellectual criticism.
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It is particularly odd that economists who profess to be champions of a free-market economy, should go to such twists and turns to avoid facing the plain fact: that gold, that scarce and valuable market-produced metal, has always been, and will continue to be, by far the best money for human society.
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I want to make it clear what I am not saying. I am not saying that fiat money, once established on the ruins of gold, cannot then continue indefinitely on its own.
Murray Rothbard
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There can be no truly moral choice unless that choice is made in freedom similarly, there can be no really firmly grounded and consistent defense of freedom unless that defense is rooted in moral principle.
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Free-market capitalism is a network of free and voluntary exchanges in which producers work, produce, and exchange their products for the products of others through prices voluntarily arrived at.
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Liberty and morality had to win their way slowly over many centuries, until finally expanding liberty made possible the great technological advance of the Industrial Revolution and the flowering of modern capitalism.
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Unlike the days of the gold standard, it is impossible for the Federal Reserve to go bankrupt it holds the legal monopoly of counterfeiting (of creating money out of thin air) in the entire country.
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Unlike every other person and institution in society, government obtains its revenue from coercion, from taxation.
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Since 1933, New Deal farm policy has continued and expanded, pursuing its grisly logic at the expense of the nation's consumers, year in and year out, in Democrat or Republican regimes, in good times and in bad.
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[Professional politicians] don't mind if price controls cause shortages of health care. In fact, they welcome the prospect, because then they can impose rationing they can impose priorities, and tell everyone how much of what kind of medical care they can have. And besides, ... there's that deeply satisfying rush of power.
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Having examined the nature of fractional reserve and of central banking, and having seen how the questionable blessings of Central Banking were fastened upon America, it is time to see precisely how the Fed, as presently constituted, carries out its systemic inflation and its control of the American monetary system.
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On the free market, everyone earns according to his productive value in satisfying consumer desires. Under statist distribution, everyone earns in proportion to the amount he can plunder from the producers.
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The state has typically been a device for producing affluence for a few at the expense of many.
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The concept of life and perfection is incompatible. BUT so is death and perfection
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Since the State necessarily lives by the compulsory confiscation of private capital, and since its expansion necessarily involves ever-greater incursions on private individuals and private enterprise, we must assert that the state is profoundly and inherently anti-capitalist .
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It is easy to be conspicuously 'compassionate' if others are being forced to pay the cost.
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