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 “ Bureaucracy and the Civil Service in the United States.”] Bureaucracy is necessarily hierarchical, first because of the Iron Law of Oligarchy, and secondly because...
[This article is excerpted from Economic Controversies, chapter 21, “The Fallacy of the ‘Public Sector’” (2011). It originally appeared in the New Individualist Review (Summer, 1961): 3–7. Editor’s...
"Where do you put him in the moral scale? It seems to me you put Mr. Nixon pretty close to the bottom."
References
Mises Institute, 2001
