Misunderstanding Murray (Again)
Professor Melinda Cooper of Australia believes she has "discovered" Murray Rothbard, but the Rothbard she claims to have found is nonexistent. David Gordon explains why.
Professor Melinda Cooper of Australia believes she has "discovered" Murray Rothbard, but the Rothbard she claims to have found is nonexistent. David Gordon explains why.
"The East lacked the primordial thing, the idea of freedom from the state. The East never raised the banner of freedom."
Murray Rothbard explains money in his book The Mystery of Banking. The purchasing power of the dollar varies inversely with the supply of dollars, and directly with the demand.
What has happened here, and elsewhere, is that Mises has strayed off his great stomping ground, praxeology, and into ethics, where he is, Rothbard believes, tragically wrong.
"In order to succeed, human action must comply not only with what are called the laws of nature, but also with specific laws of human action."
If you wish to get a better understanding of economics, don't follow the mainstream. Instead, read Thomas DiLorenzo's new book.
What is taught under the label of economics at universities nowadays is practically a denial of economics.
Economic calculation requires a monetary system that is not sabotaged by government interference.
Praxeology and economics have a definite place in the evolution of human history and in the process of scientific research.