Other Schools of Thought

While his claim of ideological steadfastness on his “basic political views” may have been correct, Rothbard did change his mind on ques

Communism is extreme socialism; socialism is extreme statism.

To recap, what then we find is that not only does the availability of financial capital become wholly divorced from the extent of the pool of physical capital goods; not only does much of that pool become misused (and, hence, ultimately, stripped of its original "capitalness"); but that the wellspring of capital maintenance and augmentation — namely, voluntary saving — is concreted over to provide a gaudy, Baroque fountain of greater exhaustive consumption.

The switch from anti-Communist militarism to anti-Islamic imperialism was not difficult. They took a chapter out of Orwell, and merely changed the name of the enemy.

In the real world, an artificial boost in demand that is not supported by production leads to the dilution of the pool of real savings and, contrary to the Keynesian view, to a shrinking in the flow of real wealth. The result is economic impoverishment.

Although Liberal Fascism contains much important information, its many mistakes require that it be used with extreme caution.

Large profit as such becomes therefore a symbol of social injury, merely because it is large. … Of all the counter symbols this was the one most damaging to the capitalistic system.

It is already evident, for example, that the American people may arrive at a planned society without changing a word of the Constitution, only the meaning of it by interpretation.

Recorded at Mises University 2007.

When entrepreneurs and business owners and managers face difficulties in the market, it is rare for them to throw in the towel, blame the customer,