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Monetary inflation not only raises prices and destroys the value of the currency unit it also acts as a giant system of expropriation.

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
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Giant
Currency
Expropriation
Giants
Unit
Acts
Monetary
Raises
Destroys
Value
Units
System
Inflation
Values
Prices

More quotes by Murray Rothbard

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Only the State legally obtains its revenue by coercion.
Murray Rothbard
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Who wants good people in government? Good people should be in the private sector. Helping us out, helping themselves out in the private sector. We want schmoes in government. We want people who can't find the doorknob. Why waste productive people, as well as looting the taxpayer?
Murray Rothbard
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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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The more these readjustments are delayed ... the longer the depression will have to last, and the longer complete recovery is postponed.
Murray Rothbard
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Monetary expansion is a massive scheme of hidden redistribution.
Murray Rothbard
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The State provides a legal, orderly, systematic channel for predation on the property of the producers.
Murray Rothbard
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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.
Murray Rothbard
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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.
Murray Rothbard
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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?
Murray Rothbard
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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.
Murray Rothbard
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The state has typically been a device for producing affluence for a few at the expense of many.
Murray Rothbard
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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 .
Murray Rothbard
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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.
Murray Rothbard
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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.
Murray Rothbard
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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.
Murray Rothbard
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The natural tendency of the state is inflation. This statement will shock those accustomed to viewing the state as a committee of the whole nation ardently dispensing the general welfare, but I think it nonetheless true.
Murray Rothbard
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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.
Murray Rothbard
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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.
Murray Rothbard
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Cops must be unleashed, and allowed to administer instant punishment, subject of course to liability when they are in error.
Murray Rothbard
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The greatest danger to the State is independent intellectual criticism.
Murray Rothbard