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Tag Archives: Murray Rothbard

Economic Inequality: Three Takes

In June 1963, when Nathaniel Branden published a piece on “Inherited Wealth” in The Objectivist Newsletter, he was still the beloved disciple of Ayn Rand, who reprinted his piece in her 1966 collection Capitalism: The Unknown Ideal, and continued to include it in subsequent editions despite her break with Branden in 1968. As Rand famously did not allow opinions deviating even in the slightest from her own to appear in journals or books that she edited, we can assume Branden speaks...

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Government Counterfeiting Squeezes Families, Not Capitalism

It’s all capitalisms fault!What is?Well, everything.At least that’s the narrative you get from the political left, and quite frankly, not infrequently from the political right.Case in point –  a book released a couple of months ago by Alissa Quart called  .Of course, the reason is capitalism.Quart serves as the executive editor of the Economic Hardship Reporting Project. Her book “examines the lives of many middle-class Americans who can now barely afford to raise children.” Her subjects...

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Trumping to Serfdom

Ryan Murphy of SMU has confirmed what F.A. Hayek wrote decades ago.  It turns out Washington D.C. has more psychopaths per capita than anyplace else in the country.  Insert my shock face here. The best chapter of the seminal “Road to Serfdom” is ‘Why the Worst get on Top,’ where Hayek wrote, Advancement within a totalitarian group or party depends largely on a willingness to do immoral things. The principle that the end justifies the means, which in individualist ethics is regarded as the...

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The Herd Mind

Authored by Dan Sanchez via The Foundation for Economic Education, The State is a state of mind; it is the herd mindset itself. Randolph Bourne famously wrote, “War is the health of the State.” This has long been the byword for anti-war, anti-state libertarians, and rightly so. But Bourne did not mean exactly what most libertarians take this phrase to mean. To understand the maxim’s original meaning, as Bourne used it in his great...

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Coming of Age with Murray

[The audio version of Professor Hoppe’s keynote address presented at the Mises Institute’s 35th Anniversary celebration in New York City on October 7, 2017, can be heard here. Reprinted from Mises.org] I first met Murray Rothbard in the summer of 1985. I was then 35 and Murray was 59. For the next ten years, until Murray’s premature death in 1995, I would be associated with Murray, first in New York City and then in Las Vegas, at UNLV, in closer, more immediate and direct contact...

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Exposing Our Lawless Central Bank

Authored by Ryan McMaken via The Mises Institute, The economic arguments against central banks are numerous to say the least. Through the writings of Ludwig von Mises and Murray Rothbard we have a wide variety of critiques that explain the many ways the central banks distort economies, cause booms and busts, punish savers, and chose winners and losers through monetary policy.  But, even if confronted with these arguments, and one remains supportive of central banks,...

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What Nassim Taleb Can Teach Us

Authored by Jeff Deist via The Mises Institute, Nassim Nicholas Taleb does not suffer fools gladly. Author of several books including The Black Swan and Antifragile, Taleb is known for his incendiary personality almost as much as his brilliant work in probability theory. Readers of his very active Medium page will experience a formidable mind with no patience for trendy groupthink, a mind that takes special pleasure in lambasting elites with no “skin in the game.” “Skin in the game” is a...

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The Political Importance of Murray Rothbard

This is a chapter from Man, Economy, and Liberty: Essays in Honor of Murray N. Rothbard, edited with an introduction by Walter Block and Lew Rockwell. Reprinted from Mises.org It would be difficult to exaggerate Professor Murray N. Rothbard’s influence on the movement for freedom and free markets. He is the living giant of Austrian economics, and he has led the now-formidable movement ever since the death of his great teacher, Ludwig von Mises, in 1971. We are all indebted to him for...

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Commodity Money in Colonial America

Reprinted from LewRockwell.com As an outpost of Great Britain, colonial America of course used British pounds, pence, and shillings as its money. Great Britain was officially on a silver standard, with the shilling defined as equal to 86 pure Troy grains of silver, and with silver as so-defined legal tender for all debts (that is, creditors were compelled to accept silver at that rate). However, Britain also coined gold and maintained a bimetallic standard by fixing the gold guinea, weighing...

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Forget Conservatism: Embrace being a Genetic Freedom Mutant

A frustrated Roger Toutant, writing for mises.ca, believes libertarians should quit fighting for social freedoms and throw in with the conservatives.  Toutant claims “Libertarianism is, at its core, a fiscally and socially conservative movement.” He then goes on to say “as far as I can tell,” most libertarians are conservative, so, enough with embracing gays, weed, and guns like the Canadian Libertarian Party does, because that’s an “absurd notion and complete rejection of true...

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