Murray Rothbard Quotes

All government wars are unjust.
It is in war that the State really comes into its own: swelling in power, in number, in pride, in absolute dominion over the economy and the society.
The State thrives on war - unless, of course, it is defeated and crushed - expands on it, glories in it.
There is one good thing about Marx: he was not a Keynesian.
'The General Theory' was not truly revolutionary at all but merely old and oft-refuted mercantilist and inflationist fallacies dressed up in shiny new garb, replete with newly constructed and largely incomprehensible jargon.
A robber who justified his theft by saying that he really helped his victims, by his spending giving a boost to retail trade, would find few converts; but when this theory is clothed in Keynesian equations and impressive references to the 'multiplier effect,' it unfortunately carries more conviction.
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.
All action is an attempt to exchange a less satisfactory state of affairs for a more satisfactory one.
Among intellectuals who consider themselves 'scientific,' the phrase 'the nature of man' is apt to have the effect of a red flag on a bull.
An attempt by the Mongols to introduce paper money in Persia in the twelfth and thirteenth centuries flopped because no one would accept it. The public had no confidence in the paper money despite the awesomely coercive decrees that always marked Mongol rule.
Apart from medieval China, which invented both paper and printing centuries before the West, the world had never seen government paper money until the colonial government of Massachusetts emitted a fiat paper issue in 1690.
As 'Austrian' business cycle theory has pointed out, any bank credit inflation sets up conditions for boom-and-bust; there is no need for prices actually to rise.
As Ludwig von Mises conclusively demonstrated in 1912, money does not and cannot originate by order of the State or by some sort of social contract agreed upon by all citizens; it must always originate in the processes of the free market.
As the greatest and last major crisis before 1836, the panic of 1819 holds considerable interest for the study of business cycles and for the present day. It was an economy in transition, as it were, to a state where business cycles as we know them would develop.
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.
Commercial banks - that is, fractional reserve banks - create money out of thin air. Essentially, they do it in the same way as counterfeiters.
Declines in specific industries can never ignite a general depression. Shifts in data will cause increases in activity in one field, declines in another.
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.
Economics has revealed a great truth about the natural law of human interaction: that not only is production essential to man's prosperity and survival, but so also is exchange.
Every man must have freedom, must have the scope to form, test, and act upon his own choices, for any sort of development of his own personality to take place. He must, in short, be free in order that he may be fully human.
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