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.
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 problem with socialism was never the wrong people in charge. It was socialism.
In the deepest sense, the American Revolution was a conscious majority revolution on behalf of libertarianism and against power.
In the deepest sense, the American Revolution was a conscious majority revolution on behalf of libertarianism and against power.
Mises Institute, 2001
