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.
Meet the Author
Murray N. Rothbard
View Murray N. Rothbard bio and works
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 planned economy big business asked for—and never gave back.
The intellectuals did not merely support the war. They had been waiting for it.
[ Editor’s note: With the 250th anniversary of the Declaration of Independence comes many attempts to use the text of the Declaration to support modern political ideologies. Perhaps the most common...
References
Mises Institute, 2001
