murray rothbard
Full Name and Common Aliases
Murray Newton Rothbard, often referred to simply as Murray Rothbard, was a towering figure in the fields of economics, history, and political philosophy. Known for his sharp intellect and prolific writing, Rothbard is frequently cited in discussions on libertarianism and Austrian economics.
Birth and Death Dates
Murray Rothbard was born on March 2, 1926, in the Bronx, New York City, and passed away on January 7, 1995, leaving behind a legacy that continues to influence thinkers and policymakers around the world.
Nationality and Profession(s)
Rothbard was an American economist, historian, and political theorist. He was a leading figure in the development of modern libertarianism and a prominent advocate of the Austrian School of economics. His work spanned various disciplines, including economics, history, political science, and philosophy.
Early Life and Background
Murray Rothbard was born to Jewish immigrant parents from Poland and Russia. His father, David Rothbard, was a chemist, and his mother, Rae Rothbard, was a homemaker. Growing up in a culturally rich environment, Rothbard was a voracious reader from a young age. He attended Columbia University, where he earned a Bachelor of Arts degree in mathematics in 1945. He continued his education at Columbia, obtaining a Ph.D. in economics in 1956 under the mentorship of Joseph Dorfman.
Rothbard's early exposure to the works of Ludwig von Mises and other Austrian economists profoundly shaped his intellectual development. He became deeply interested in the principles of free-market economics and individual liberty, which would become central themes in his later work.
Major Accomplishments
Murray Rothbard's contributions to economics and political philosophy are vast and varied. He was a founding member of the Cato Institute and the Ludwig von Mises Institute, institutions that have played significant roles in promoting libertarian ideas. Rothbard was also a key figure in the development of anarcho-capitalism, a political philosophy that advocates for the elimination of the state in favor of voluntary associations and free markets.
Rothbard's academic career included teaching positions at several universities, most notably at the University of Nevada, Las Vegas, where he served as a professor of economics. His influence extended beyond academia, as he was actively involved in political activism and public discourse, often challenging mainstream economic and political thought.
Notable Works or Actions
Among Rothbard's most influential works is "Man, Economy, and State", published in 1962, which is considered a seminal text in Austrian economics. This comprehensive treatise laid out a detailed analysis of economic principles from a libertarian perspective. Another significant work, "America's Great Depression", offered a revisionist interpretation of the causes of the Great Depression, attributing it to government intervention rather than market failure.
Rothbard's "The Ethics of Liberty" is a cornerstone of libertarian political philosophy, articulating a vision of a society based on natural rights and voluntary cooperation. His historical analysis, "Conceived in Liberty", provides a libertarian perspective on the American Revolution and the founding of the United States.
Impact and Legacy
Murray Rothbard's impact on the fields of economics and political philosophy is profound and enduring. He is often credited with revitalizing the Austrian School of economics in the United States and inspiring a new generation of libertarian thinkers. His ideas have influenced a wide range of scholars, activists, and policymakers who advocate for limited government, individual liberty, and free markets.
Rothbard's legacy is preserved through the continued work of the Ludwig von Mises Institute and other organizations that promote his ideas. His writings remain a vital resource for those seeking to understand and advance the principles of liberty and economic freedom.
Why They Are Widely Quoted or Remembered
Murray Rothbard is widely quoted and remembered for his unwavering commitment to the principles of liberty and his ability to articulate complex economic and philosophical ideas with clarity and precision. His critiques of government intervention and advocacy for free markets resonate with those who value individual freedom and skepticism of centralized power.
Rothbard's work continues to inspire debate and discussion, making him a central figure in the ongoing dialogue about the role of government and the nature of economic systems. His legacy as a champion of liberty ensures that his ideas and insights remain relevant and influential in contemporary discourse.
Quotes by murray rothbard
murray rothbard's insights on:
In his second Inaugural Address, on March 5, 1821, Monroe admitted at last to a general depression of prices, but only as a means of explaining the great decline in the federal revenue. Despite this, he asserted that the situation of America presented a 'gratifying spectacle.'
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.
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.
While the seeming independence of the federal judiciary has played a vital part in making its actions virtual Holy Writ for the bulk of the people, it is also and ever true that the judiciary is part and parcel of the government apparatus and appointed by the executive and legislative branches.
The majority must be persuaded by ideology that their government is good, wise and, at least, inevitable, and certainly better than other conceivable alternatives. Promoting this ideology among the people is the vital social task of the 'intellectuals.'
In order to continue in office, any government (not simply a 'democratic' government) must have the support of the majority of its subjects. This support, it must be noted, need not be active enthusiasm; it may well be passive resignation as if to an inevitable law of nature.
While other individuals or institutions obtain their income by production of goods and services and by the peaceful and voluntary sale of these goods and services to others, the State obtains its revenue by the use of compulsion; that is, by the use and the threat of the jailhouse and the bayonet.
Famine emerges from a lack of interlocal trade; when one locality's food crop fails, since there is virtually no trade with other localities, the bulk of the people starve. It is precisely the permeation of the free market throughout the world that has virtually ended this scourge of famine by permitting trade between areas.
I think one of the most important directions to be pursued in the 'sciences of human action' is to develop a natural-law ethics based on nature rather than, or at least to supplement, ethics based on theological revelation.
The proper governmental policy in a depression is strict laissez-faire, including stringent budget slashing, and coupled perhaps with positive encouragement for credit contraction.