Rothbard shows how money must originate from a commodity. In an ideal system, a dollar would be a unit of weight, and paper money would operate strictly as warehouse receipts for the stock of the monetary metal. There would be no fractional reserve banking. Rothbard offers a rebuttal to the objections to a 100 percent gold dollar raised by Professor Leland Yeager.
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Murray N. Rothbard
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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.
[This article is adapted from Murray Rothbard’s 1977 keynote address to the Libertarian Party.] I used to think that adopting the victory of liberty as the overriding goal must be almost self-evident...
[ Editor’s note: The article below is adapted from a lengthy 1954 memo by Rothbard which is written largely as a review of George B. DeHuszar and Thomas Hulbert Stevenson’s A History of the American...
This first appeared in The Libertarian Forum, Vol VI, No. 6-7, June-July,1972, following the attempted assassination of Presidential candidate George Wallace. John F. Kennedy; Malcolm X; Martin Luther...
References
Mises Institute, 2001
