More than any other single period, World War I was the critical watershed for the American business system. It was a “war collectivism,” a totally planned economy run largely by big-business interest through the instrumentality of the central government, which served as the model, the precedent, and the inspiration for state corporate capitalism for the remainder of the century.
Murray N. Rothbard made major contributions to economics, history, political philosophy, and legal theory. He combined Austrian economics with a fervent commitment to individual liberty.
"The American Revolution, the European right realized, was a vital milestone in the advance and development of the western revolutionary tradition."
Deflate the dollars, or redefine the dollar’s weight—or some blend of the two.
The supply of money, Rothbard answers, essentially does not matter.
