Quote

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

Change background

T
T
T

Change font

TAGS & TOPICS

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
Money
Fiat
Cannot
Indefinitely
Make
Established
Ruins
Continue
Gold
Saying
Clear

More quotes by Murray Rothbard

Image
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.
Murray Rothbard
Image
Never have the world's moneys been so long cut off from their metallic roots.
Murray Rothbard
Image
...The very nature of interstate war puts innocent civilians into great jeopardy, especially with modern technology.
Murray Rothbard
Image
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.
Murray Rothbard
Image
Subjectivism is not an absolute principle it is a necessary but not sufficient condition for sound methodology.
Murray Rothbard
Image
Throughout history governments have been chronically short of revenue. The reason should be clear: unlike you and me, governments do not produce useful goods and services that they can sell on the market governments, rather than producing and selling services, live parasitically off the market and off society.
Murray Rothbard
Image
Governmental subsidy systems promote inefficiency in production and efficiency in coercion and subservience, while penalizing efficiency in production and inefficiency in predation.
Murray Rothbard
Image
The necessary consequence of an egalitarian program is the decidedly inegalitarian creation of a ruthless power elite.
Murray Rothbard
Image
If we look around, then, at the crucial problem areas of our society - the areas of crisis and failure - we find in each and every case a “red thread” marking and uniting them all: the thread of government. In every one of these cases, government either has totally run or heavily influenced the activity.
Murray Rothbard
Image
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.
Murray Rothbard
Image
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.
Murray Rothbard
Image
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.
Murray Rothbard
Image
The State thrives on war - unless, of course, it is defeated and crushed - expands on it, glories in it.
Murray Rothbard
Image
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.
Murray Rothbard
Image
You don't need a treaty to have free trade.
Murray Rothbard
Image
The state has typically been a device for producing affluence for a few at the expense of many.
Murray Rothbard
Image
The costs of government are bound to be much higher than those of the free market. . .The State cannot calculate well and therefore cannot gauge its costs accurately.
Murray Rothbard
Image
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
Image
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.
Murray Rothbard
Image
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.
Murray Rothbard