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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
Difficult
Adjustment
Government
Delay
Recovery
Depression
Complete
Market
Road
Intervenes
Longer
Grueling

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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 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.
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All government wars are unjust.
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States have always needed intellectuals to con the public into believing that its rule is wise, good, and inevitable
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Essentially, I mean the almost self-evident fact that individuals, ethnic groups, and races differ among themselves in intelligence and in many other traits, and that intelligence, as well as less controversial traits of temperament, are in large part hereditary.
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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.
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The greatest danger to the State is independent intellectual criticism.
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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.
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All government operation is wasteful, inefficient, and serves the bureaucrat rather than the consumer.
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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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...The very nature of interstate war puts innocent civilians into great jeopardy, especially with modern technology.
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To those advocates of independent paper moneys who also champion the free market, I would address this simple question: Why don't you advocate the unlimited freedom of each individual to manufacture dollars? If dollars are really and properly things-in-themselves, why not let everyone manufacture them as they manufacture wheat and baby food?
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After the Volcker Fund collapsed, I got another grant from the Lilly Endowment to do a history of the U.S., which I worked on from 1962-66. The original idea was to take the regular facts and put a libertarian assessment on everything.
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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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Minimum wage laws tragically generate unemployment, especially so among the poorest and least skilled or educated workers... Because a minimum wage, of course, does not guarantee any worker's employment it only prohibits, by force of law, anyone from being hired at the wage which would pay his employer to hire him.
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The best way to help the poor is to slash taxes and allow savings, investment, and creation of jobs to proceed unhampered.
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Scratch an egalitarian, and you will inevitably find a statist.
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Absolute freedom need not be lost as the price we must pay for the advent of civilization men are born free, and need never be in chains. Man may achieve liberty and abundance, freedom and civilization.
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