Reagonomics - a blend of monetarism and fiscal Keynesianism swathed in classical liberal and supply-side rhetoric - is in no way going to solve the problem of inflationary depression or of the business cycle. Murray Rothbard blendbusinessclassical share on social
The Panic of 1819 exerted a profound effect on American economic thought. As the first great financial depression, similar to a modern expansion-depression pattern, the panic heightened interest in economic problems, and particularly those problems related to the causes and cures of depressed conditions. Murray Rothbard americanconditioncure share on social
In the market, the fittest are those most able to serve the consumers; in government, the fittest are those most adept at wielding coercion and/or those most adroit at making demagogic appeals to the voting public. Murray Rothbard adeptadroitappeal share on social
Of all the numerous forms that governments have taken over the centuries, of all the concepts and institutions that have been tried, none has succeeded in keeping the State in check. The problem of the State is evidently as far from solution as ever. Murray Rothbard centurycheckconcept share on social
Philosophically, I believe that libertarianism - and the wider creed of sound individualism of which libertarianism is a part - must rest on absolutism and deny relativism. Murray Rothbard absolutismcreeddeny Change image and share on social
Play, as a consumers' good, is subject to the law of marginal utility, as are all goods, and the time spent in play will be balanced against the utility to be derived from other obtainable goods. Murray Rothbard balanceconsumerderive Change image and share on social
Early economic theory was rooted in the Italian, French, and Spanish traditions, which were subjectivist oriented. Then it shifted onto the terrible path by Smith and Ricardo and the British classical tradition, which is 'objectivist' - values are in inherent in production. Murray Rothbard britishclassicalearly share on social
By the 1890s, the leading Wall Street bankers were becoming increasingly disgruntled with their own creation, the National Banking System... while the banking system was partially centralized under their leadership, it was not centralized enough. Murray Rothbard 1890sbankbanker share on social
Praxeology - economics - provides no ultimate ethical judgments: it simply furnishes the indispensable data necessary to make such judgments. Murray Rothbard datumeconomicsethical Change image and share on social
The great fact of individual difference and variability (that is, inequality) is evident from the long record of human experience: hence, the general recognition of the antihuman nature of a world of coerced uniformity. Murray Rothbard antihumancoercedifference share on social