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Quote by Murray Rothbard

Work

Man, Economy, and State, Scholar's Edition

This scholarly edition delves into the principles of economics, analyzing the relationships between individuals, economies, and states. It examines economic concepts and their implications for political and social systems. more

Author

Murray Rothbard
Murray Rothbard

Murray Rothbard was a renowned economist known for his profound understanding and advocacy of free-market economics. He had extensive research and contributions in the fields of economics, political philosophy, and history. more

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“The power to determine the quantity of money... is too important, too pervasive, to be exercised by a few people, however public-spirited, if there is any feasible alternative. There is no need for such arbitrary power... Any system which gives so much power and so much discretion to a few men, [so] that mistakes - excusable or not - can have such far reaching effects, is a bad system. It is a bad system to believers in freedom just because it gives a few men such power without any effective check by the body politic - this is the key political argument against an independent central bank.”

PeopleIfsMenNeedsGivingImportantBodyPoliticalMistakeLibertyPowerEconomicEffectsTrustKeysArgumentIndependentDetermineBelieverChecksAlternativesReachingQuantityArbitraryDiscretionSpiritedCentral BanksEconomic FreedomPolitical Arguments
Author:Milton Friedman
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“Fundamentally, there are only two ways of coordinating the economic activities of millions. One is central direction involving the use of coercion - the technique of the army and of the modern totalitarian state. The other is voluntary cooperation of individuals - the technique of the marketplace.”

WayTwoStatesUseIndividualLibertyMillionsEconomicModernActivityEconomicsArmyLibertarianTechniqueCooperationLibertarianismFree MarketMarketplaceCoercionTwo WaysInvolvingIndividual LibertyTotalitarian StateCoordinating
Book:Milton Friedman on Freedom: Selections from The Collected Works of Milton Friedman
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“Self-interest is not myopic selfishness. It is whatever it is that interests the participants, whatever they value, whatever goals they pursue. The scientist seeking to advance the frontiers of his discipline, the missionary seeking to convert infidels to the true faith, the philanthropist seeking to bring comfort to the needy - all are pursuing their interests, as they see them, as they judge them by their own values.”

SelfValuesGoalInterestLibertyEconomicJudgingDisciplineComfortScientistSeekingLibertarianPursueSelfishnessMissionaryLibertarianismFrontiersSelf InterestParticipantsNeedyInfidelPhilanthropistTrue FaithMyopic
Book:Free to Choose: A Personal Statement
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“Lenin is said to have declared that the best way to destroy the Capitalistic System was to debauch the currency. . . Lenin was certainly right. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million can diagnose.”

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Book:The Economic Consequences of the Peace: The Economist
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“[T]he theory of output as a whole, which is what the following book purports to provide, is much more easily adapted to the conditions of a totalitarian state, than is the theory of production and distribution of a given output produced under the conditions of free competition and a large measure of laissez-faire.”

BookStatesWholeGivenLibertyEconomicConditionsTheoryCompetitionProductionsFollowingDistributionAdaptedOutputLaissez FaireTotalitarian StateLaissez Faire Capitalism
Author:John Maynard Keynes
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