227 Quotes by murray rothbard

The avoidance of explicit ethical judgments leads political scientists to one overriding implicit value judgment - that in favor of the political status quo as it happens to prevail in any given society.

Ultimately, there is no entity called 'government'; there are only people forming themselves into groups called 'governments' and acting in a 'governmental' manner.

'The General Theory' was not truly revolutionary at all but merely old and oft-refuted mercantilist and inflationist fallacies dressed up in shiny new garb, replete with newly constructed and largely incomprehensible jargon.

It is important to realize that gold and silver are international commodities and that, therefore, when not prohibited by government decree, foreign coins are perfectly capable of serving as standard moneys.

Now judicial review, beloved by conservatives, can, of course, fulfill the excellent function of declaring government interventions and tyrannies unconstitutional. But it can also validate and legitimize the government in the eyes of the people by declaring these actions valid and constitutional.

In order to conquer the world of economics with his new theory, it was critical for Keynes to destroy his rivals within Cambridge itself. In his mind, he who controlled Cambridge controlled the world.

Gold and silver are always in demand, regardless of clime, century, or government in power. But public confidence in and, hence, demand for paper money depends on the ultimate confidence - or lack thereof - of the public in the viability of the issuing government.

Where did Keynes stand on overt fascism? From the scattered information now available, it should come as no surprise that Keynes was an enthusiastic advocate of the 'enterprising spirit' of Sir Oswald Mosley, the founder and leader of British fascism, in calling for a comprehensive 'national economic plan' in late 1930.

The 'boom-bust' cycle is generated by monetary intervention in the market, specifically bank credit expansion to business.