Murray N. Rothbard*

Date: July 1961

To: F.A. Harper, George Resch

From: Murray Rothbard

The Libertarian Forum, edited by Murray N. Rothbard from 1969 to 1984, had a small — even tiny — circulation but it forged the intellectual edifice known as libertarianism.

Month after month, the newsletter thrilled, enlightened, shocked, and awed its subscribers. Everything was on the table. And here are all the issues again, as smart, gossipy, and fresh as they were when they were first written.

The most influential and famous low-circulation, typewriter-typed scholarly journal of the 20th century.

From The Review of Austrian Economics Vol. 7, No. 1, 1994.

Murray N. Rothbard Breaking Out of the Walrasian Box: The Cases of Schumpeter and Hansen Acrobat 3.0 Import Plug-in

[Originally published in Libertarian Papers 1, 39 (2009)]

     The Nobel Prize in Economics is considered the ultimate consecration that an economist could receive from his fellow peers. Hence, to cast a critical opinion on the Prize, rather than on the views of a particular laureate, implies a critical attitude toward the entire economics profession as it has developed at least for the last 40 years. This implication is quite serious, for it puts into question the scientific value, and hence the very meaningfulness, of the activity of tens of thousands of researchers in social sciences.

Banks under a free-banking system, like banks with fractional reserves under any other system, are susceptible to runs. Free-banking theorists maintain that the option clause would be one effective means of dealing with runs on banks. The option clause, printed on banknotes, would allow banks to defer redemption of their notes provided they pay interest for the period of deferment. The clause would enable banks to protect their liquidity in the face of an unexpected increase in demands for redemption, and allow them time to adjust their portfolios.

From the Review of Austrian Economics Vol. 9, No. 1, 1996.

Thomas J. DiLorenzo VENTURA Acrobat 3.0 Import Plug-in