Rothbard Quotes & Sayings

The drum-fire of propaganda that the Fed is manning the ramparts against the menace of inflation brought about by others is nothing less than a deceptive shell game. The culprit solely responsible for inflation, the Federal Reserve, is continually engaged in raising a hue-and-cry about 'inflation,' for which virtually everyone else in society seems to be responsible. What we are seeing is the old ploy by the robber who starts shouting 'Stop, thief!' and runs down the street pointing ahead at others. — Murray Rothbard

So: if the chronic inflation undergone by Americans, and in almost every other country, is caused by the continuing creation of new money, and if in each country its governmental "Central Bank" (in the United States, the Federal Reserve) is the sole monopoly source and creator of all money, who then is responsible for the blight of inflation? Who except the very institution that is solely empowered to create money, that is, the Fed (and the Bank of England, and the Bank of Italy, and other central banks) itself? — Murray Rothbard

Once one concedes that a single world government is not necessary, then where does one logically stop at the permissibility of separate states? If Canada and the United States can be separate nations without being denounced as in a state of impermissible 'anarchy', why may not the South secede from the United States? New York State from the Union? New York City from the state? Why may not Manhattan secede? Each neighbourhood? Each block? Each house? Each person? — Murray N. Rothbard

The most sanctified figure in American historiography is, by no accident, the Great Saint of centralizing "democracy" and the strong unitary nation-state: Abraham Lincoln. And so didn't Lincoln use force and violence, and on a massive scale, on behalf of the mystique of the sacred "Union," to prevent the South from seceding? Indeed he did, and on the foundation of mass murder and oppression, Lincoln crushed the South and outlawed the very notion of secession (based on the highly plausible ground that since the separate states voluntarily entered the Union they should be allowed to leave). But not only that: for Lincoln created the monstrous unitary nation-state from which individual and local liberties have never recovered. — Murray N. Rothbard

It is particularly odd that economists who profess to be champions of a free-market economy, should go to such twists and turns to avoid facing the plain fact: that gold, that scarce and valuable market-produced metal, has always been, and will continue to be, by far the best money for human society. — Murray Rothbard

For this essential acceptance, the majority must be persuaded by ideology that their government is good, wise and, at least, inevitable, and certainly better than other conceivable alternatives. Promoting this ideology among the people is the vital social task of the intellectuals. — Murray N. Rothbard

Just as no one is morally required to answer a robber truthfully when he asks if there are any valuables in one's house, so no one can be morally required to answer truthfully similar questions asked by the State, e.g., when filling out income tax returns. — Murray Rothbard

The state has typically been a device for producing affluence for a few at the expense of many. — Murray Rothbard

If government manages to establish paper tickets or bank credit as money, as equivalent to gold grams or ounces, then the government, as dominant money-supplier, becomes free to create money costlessly and at will. As a result, this 'inflation' of the money supply destroys the value of the dollar or pound, drives up prices, cripples economic calculation, and hobbles and seriously damages the workings of the market economy. — Murray Rothbard

Placing the state in charge of moral principles is equivalent to putting the proverbial fox in charge of the chicken coop. — Murray Rothbard

The picture of the free market is necessarily one of harmony and mutual benefit; the picture of State intervention is one of caste conflict, coercion, and exploitation. — Murray Rothbard

One instance of this failure is the case of smoke, as well as air pollution generally. In so far as the outpouring of smoke by factories pollutes the air and damages the persons and property of others, it is an invasive act. It is equivalent to an act of vandalism and in a truly free society would have been punished after court action brought by the victims. Air pollution, then, is not an example of a defect in a system of absolute property rights, but of failure on the part of the government to preserve property rights. Note that the remedy, in a free society, is not the creation of an administrative State bureau to prescribe regulations for smoke control. The remedy is judicial action to punish and proscribe pollution damage to the person and property of others.48 In — Murray N. Rothbard

Where the questions concern governmental power in a sovereign nation, it is not possible to select an umpire who is outside government. Every national government, so long as it is a government, must have the final say on its own power. — Murray N. Rothbard

Exchange is the lifeblood, not only of our economy, but of civilization itself. — Murray N. Rothbard

On the free market, everyone earns according to his productive value in satisfying consumer desires. Under statist distribution, everyone earns in proportion to the amount he can plunder from the producers. — Murray Rothbard

Every once in awhile the human race pauses in the job of botching its affairs and redeems itself by a noble work of the intellect. — Murray N. Rothbard

Restoring prayer ... will scarcely at this date solve the grievous public school problem. Public schools are expensive and massive centers for cultural and ideological brainwashing, at which they are unfortunately far more effective than in teaching the 3 R's or in keeping simple order within the schools. Any plan to begin dismantling the public school monstrosity is met with effective opposition by the teachers' and educators' unions. Truly radical change is needed to shift education from public to unregulated private schooling, religious and secular, as well as home schooling by parents. — Murray Rothbard

If men were like ants, there would be no interest in human freedom. If individual men, like ants, were uniform, inter changeable, devoid of specific personality traits of their own, then who would care whether they were free or not? Who, indeed, would care if they lived or died? The glory of the human race is the uniqueness of each individual, the fact that every person, though similar in many ways to others, possesses a completely individuated personality of his own. It is the fact of each person's uniqueness - the fact that no two people can be wholly interchangeable - that makes each and every man irreplaceable and that makes us care whether he lives or dies, whether he is happy or oppressed. And, finally, it is the fact that these unique personalities need freedom for their full development that constitutes one of the major arguments for a free society. — Murray N. Rothbard

If taxes and government spending are both slashed, then the salutary result will be to lower the parasitic burden of government taxes and spending upon the productive activities of the private sector. — Murray Rothbard

The public sector can only feed off the private sector; it necessarily lives parasitically upon the private economy. But this means that the productive resources of society - far from satisfying the wants of consumers - are now directed, by compulsion, away from these wants and needs. The consumers are deliberately thwarted, and the resources of the economy diverted from them to those activities desire by the parasitic bureaucracy and politicians. — Murray Rothbard

Money is the general medium of exchange. It is the thing for which all other goods are traded, the means of final payment for such goods on the market. — Murray Rothbard

What is so terrible about transaction costs? On what basis are they considered the ultimate evil, so that their minimization must override all other considerations of choice, freedom, and justice? — Murray Rothbard

It is human nature that when you see something work well, you do more of it. If, in its ceaseless quest for revenue, government sees a seemingly harmless method of raising funds without causing much inflation, it will grab on to it. — Murray Rothbard

The Panic of 1819 exerted a profound effect on American economic thought. As the first great financial depression, similar to a modern expansion-depression pattern, the panic heightened interest in economic problems, and particularly those problems related to the causes and cures of depressed conditions. — Murray Rothbard

If you wish to know how libertarians regard the State and any of its acts, simply think of the State as a criminal band, and all of the libertarian attitudes will logically fall into place. — Murray Rothbard

Many people believe that the free market, despite some admitted advantages, is a picture of disorder and chaos. Nothing is "planned," everything is haphazard. Government dictation, on the other hand, seems simple and orderly; decrees are handed down and they are obeyed. — Murray N. Rothbard

After the Volcker Fund collapsed, I got another grant from the Lilly Endowment to do a history of the U.S., which I worked on from 1962-66. The original idea was to take the regular facts and put a libertarian assessment on everything. — Murray Rothbard

Kissinger's major, and most lucrative role, has come as head of Kissinger Associates in New York City, founded on a loan obtained in 1982 from the international banking firm of E.M. Warburg, Pincus and Company. Nominally, Kissinger Associates (KA) is an "international consulting firm" but "consultant" covers many sins, and in KA's case, this means international political influence-peddling for its two dozen or so important corporate clients. — Murray Rothbard

We may test the hypothesis that the State is largely interested in protecting itself rather than its subjects by asking: which category of crimes does the State pursue and punish most intensely - those against private citizens or those against itself?
The gravest crimes in the State's lexicon are almost invariably not invasions of private person or property, but dangers to its own contentment, for example, treason, desertion of a soldier to the enemy, failure to register for the draft, subversion and subversive conspiracy, assassination of rulers and such economic crimes against the State as counterfeiting its money or evasion of its income tax.
Or compare the degree of zeal devoted to pursuing the man who assaults a policeman, with the attention that the State pays to the assault of an ordinary citizen. Yet, curiously, the State's openly assigned priority to its own defense against the public strikes few people as inconsistent with its presumed raison d'etre. — Murray N. Rothbard

In sum, freedom can run a monetary system as superbly as it runs the rest of the economy. Contrary to many writers, there is nothing special about money that requires extensive governmental dictation. Here, too, free men will best and most smoothly supply all their economic wants. For money as for all other activities of man, liberty is the mother, not the daughter, of order. — Murray N. Rothbard

Declines in specific industries can never ignite a general depression. Shifts in data will cause increases in activity in one field, declines in another. — Murray Rothbard

Economics has revealed a great truth about the natural law of human interaction: that not only is production essential to man's prosperity and survival, but so also is exchange. — Murray Rothbard

The ingenious slogan that the public debt does not matter because 'we owe it to ourselves' is clearly absurd. — Murray Rothbard

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

It is infinitely better to rely on the pursuit of economic interest by landowners or street companies than to depend on the dubious "altruism" of bureaucrats and government officials. — Murray N. Rothbard

Only individuals have ends and can act to attain them. There are no such things as ends of or actions by 'groups,' 'collectives,' or 'States,' which do not take place as actions by various specific individuals. — Murray Rothbard

One of the most important features of our economic resources is their scarcity: land, labor, and capital goods factors are all scarce, and may all be put to various possible uses. The free market uses them 'productively' because the producers are guided, on the market, to produce what the consumers most need: automobiles, for example, rather than buggies. — Murray Rothbard

There is one good thing about Marx: he was not a Keynesian — Murray N. Rothbard

It would be an instructive exercise for the skeptical reader to try to frame a definition of taxation which does not also include theft. Like the robber, the State demands money at the equivalent of gunpoint; if the taxpayer refuses to pay, his assets are seized by force, and if he should resist such depredation, he will be arrested or shot if he should continue to resist. — Murray N. Rothbard

Praxeology - economics - provides no ultimate ethical judgments: it simply furnishes the indispensable data necessary to make such judgments. — Murray Rothbard

We must, therefore, emphasize that 'we' are not the government; the government is not 'us.' The government does not in any accurate sense 'represent' the majority of the people. But, even if it did, even if 70 percent of the people decided to murder the remaining 30 percent, this would still be murder and would not be voluntary suicide on the part of the slaughtered minority. No organicist metaphor, no irrelevant bromide that 'we are all part of one another,' must be permitted to obscure this basic fact. — Murray Rothbard

There is no gainsaying the fact that this suggested program will strike most people as impossibly "radical" and "unrealistic"; any suggestion for changing the status quo, no matter how slight, can always be considered by someone as too radical, so that the only thoroughgoing escape from the charge of impracticality is never to advocate any change whatever in existing conditions. But to take this approach is to abandon human reason, and to drift in animal- or plant-like manner with the tide of events. — Murray N. Rothbard

The more these readjustments are delayed ... the longer the depression will have to last, and the longer complete recovery is postponed. — Murray Rothbard

Leading the boom of 1838 were state governments, who, finding themselves with the unexpected windfall of a distributed surplus from the federal government, proceeded to spend the money wildly and borrow even more extravagantly on public works and other uneconomic forms of 'investment.' — Murray Rothbard

Never have the world's moneys been so long cut off from their metallic roots. — Murray Rothbard

Oppenheimer, The State, p. 15: What, then, is the State as a sociological concept? The State, completely in its genesis ... is a social institution, forced by a victorious group of men on a defeated group, with the sole purpose of regulating the dominion of the victorious group of men on a defeated group, and securing itself against revolt from within and attacks from abroad. Teleologically, this dominion had no other purpose than the economic exploitation of the vanquished by the victors. And — Murray N. Rothbard

John Stuart was the quintessence of soft rather than hardcore, a woolly minded man of mush in striking contrast to his steel-edged father. — Murray Rothbard

Liberty and morality had to win their way slowly over many centuries, until finally expanding liberty made possible the great technological advance of the Industrial Revolution and the flowering of modern capitalism. — Murray Rothbard

War has generally had grave and fateful consequences for the American monetary and financial system. We have seen that the Revolutionary War occasioned a mass of depreciated fiat paper, worthless Continentals, a huge public debt, and the beginnings of central banking in the Bank of North America. — Murray Rothbard

In order to continue in office, any government (not simply a 'democratic' government) must have the support of the majority of its subjects. This support, it must be noted, need not be active enthusiasm; it may well be passive resignation as if to an inevitable law of nature. — Murray Rothbard

Essentially, I mean the almost self-evident fact that individuals, ethnic groups, and races differ among themselves in intelligence and in many other traits, and that intelligence, as well as less controversial traits of temperament, are in large part hereditary. — Murray Rothbard

Professor Mises has keenly pointed out the paradox of interventionists who insist that consumers are too ignorant or incompetent to buy products intelligently, while at the same time proclaiming the virtues of democracy, where the same people vote for or against politicians whom they do not know and on policies which they scarcely understand. To put it another way, the partisans of intervention assume that individuals are not competent to run their own affairs or to hire experts to advise them, but also assume that these same individuals are competent to vote for these experts at the ballot box. They are further assuming that the mass of supposedly incompetent consumers are competent to choose not only those who will rule over themselves, but also over the competent individuals in society. Yet such absurd and contradictory assumptions lie at the root of every program for "democratic" intervention in the affairs of the people.12 — Murray N. Rothbard

No one may threaten or commit violence ('aggress') against another man's person or property. Violence may be employed only against the man who commits such violence; that is, only defensively against the aggressive violence of another. In short, no violence may be employed against a non-aggressor. Here is the fundamental rule from which can be deduced the entire corpus of libertarian theory. — Murray Rothbard

The State thrives on war - unless, of course, it is defeated and crushed - expands on it, glories in it. — Murray Rothbard

Famine emerges from a lack of interlocal trade; when one locality's food crop fails, since there is virtually no trade with other localities, the bulk of the people starve. It is precisely the permeation of the free market throughout the world that has virtually ended this scourge of famine by permitting trade between areas. — Murray Rothbard

Another potent ideological force is to deprecate the individual and exalt the collectivity of society. For since any given rule implies majority acceptance, any ideological danger to that rule can only start from one or a few independently-thinking individuals. The new idea, much less the new critical idea, must needs begin as a small minority opinion; therefore, the State must nip the view in the bud by ridiculing any view that defies the opinions of the mass. "Listen only to your brothers" or "adjust to society" thus become ideological weapons for crushing individual dissent. By such measures, the masses will never learn of the nonexistence of their Emperor's clothes. — Murray N. Rothbard

Originally, Congress provided in 1793 that all foreign coins circulating in the United States be legal tender. Indeed, foreign coins have been estimated to form 80 percent of American domestic specie circulation in 1800. — Murray Rothbard

In this century, the human race faces, once again, the virulent reign of the State - of the State now armed with the fruits of man's creative powers, confiscated and perverted to its own aims. The last few centuries were times when men tried to place constitutional and other limits on the State, only to find that such limits, as with all other attempts, have failed. Of all the numerous forms that governments have taken over the centuries, of all the concepts and institutions that have been tried, none has succeeded in keeping the State in check. The problem of the State is evidently as far from solution as ever. Perhaps new paths of inquiry must be explored, if the successful, final solution of the State question is ever to be attained. — Murray N. Rothbard

The necessary consequence of an egalitarian program is the decidedly inegalitarian creation of a ruthless power elite. — Murray Rothbard

In his second Inaugural Address, on March 5, 1821, Monroe admitted at last to a general depression of prices, but only as a means of explaining the great decline in the federal revenue. Despite this, he asserted that the situation of America presented a 'gratifying spectacle.' — Murray Rothbard

Unlike every other person and institution in society, government obtains its revenue from coercion, from taxation. — Murray Rothbard

If we look at the black record of mass murder, exploitation, and tyranny levied on society by governments over the ages, we need not be loath to abandon the Leviathan State and ... try freedom. — Murray Rothbard

The successful entrepreneurs on the free market will be the ones most adept at anticipating future business conditions. Yet, the forecasting can never be perfect, and entrepreneurs will continue to differ in the success of their judgments. If this were not so, no profits or losses would ever be made in business. — Murray Rothbard

The State is, and always has been, the great single enemy of the human race, its liberty, happiness, and progress. — Murray Rothbard

Taxation is theft, purely and simply even though it is theft on a grand and colossal scale which no acknowledged criminals could hope to match. It is a compulsory seizure of the property of the State's inhabitants, or subjects. — Murray N. Rothbard

The number of men sitting at Atlanta and Leavenworth for revolting against the extortions of the government is always ten times as great as the number of government officials condemned for oppressing the taxpayers to their own gain. (Mencken, A Mencken Chrestomathy, pp. — Murray N. Rothbard

Among intellectuals who consider themselves 'scientific,' the phrase 'the nature of man' is apt to have the effect of a red flag on a bull. — Murray Rothbard

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. — Murray Rothbard

All action is an attempt to exchange a less satisfactory state of affairs for a more satisfactory one. — Murray Rothbard

The libertarian sees the State as a giant gang of organized criminals, who live off the theft called "taxation" and use the proceeds to kill, enslave, and generally push people around. Therefore, any property in the hands of the State is in the hands of thieves, and should be liberated as quickly as possible. Any person or group who liberates such property, who confiscates or appropriates it from the State, is performing a virtuous act and a signal service to the cause of liberty. — Murray Rothbard

The most extreme types, like Murray Rothbard, are at least honest. They'd like to eliminate highway taxes because they force you to pay for a road you may never drive on. As an alternative, they suggest that if you and I want to get somewhere, we should build a road there and charge people tolls on it. Just try generalizing that. Such a society couldn't survive, and even if it could, it would be so full of terror and hate that any human being would prefer to live in hell. — Noam Chomsky

The libertarian must never advocate or prefer a gradual, as opposed to an immediate and rapid, approach to his goal. For by doing so, he undercuts the overriding importance of his own goals and principles. And if he himself values his own goals so lightly, how highly will others value them. — Murray Rothbard

The expansionary operations of the Second Bank of the United States, coupled with its laxity toward insisting on specie payment by the state banks, impelled a further inflationary expansion of state banks on top of the spectacular enlargement of the central bank. Thus, the number of incorporated state banks rose from 232 in 1816 to 338 in 1818. — Murray Rothbard

Modern economics is a set of formal models and equations purporting to fully determine human behaviour, at least in the economic realm. And there is no way that uncertainty can be compressed into determinate mathematical models. — Murray Rothbard

Free-market capitalism is a network of free and voluntary exchanges in which producers work, produce, and exchange their products for the products of others through prices voluntarily arrived at. — Murray Rothbard

The individual man, in introspecting the fact of his own consciousness, also discovers the primordial natural fact of his freedom: his freedom to choose, his freedom to use or not use his reason about any given subject. In short, the natural fact of his "free will." He also discovers the natural fact of his mind's command over his body and its actions: that is, of his natural ownership over his self. — Murray Rothbard

[T]he crucial question is not, as so many believe, whether property rights should be private or governmental, but rather whether the necessarily 'private' owners are legitimate owners or criminals. For ultimately, there is no entity called 'government'; there are only people forming themselves into groups called 'governments' and acting in a 'governmental' manner. All property is therefore always 'private'; the only and critical question is whether it should reside in the hands of criminals or of the proper and legitimate owners. — Murray Rothbard

It is only in relation to state action that the interests of different men become welded into "classes," for state action must always privilege one or more groups and discriminate against others. The homogeneity emerges from the intervention of the government in society. Thus, under feudalism or other forms of "land monopoly" and arbitrary land allocation by the government, the feudal landlords, privileged by the state, become a "class' (or "caste" or "estate"). And the peasants, homogeneously exploited by state privilege, also become a class. For the former thus constitute a "ruling class" and the latter the "ruled. — Murray N. Rothbard

Philosophically, I believe that libertarianism - and the wider creed of sound individualism of which libertarianism is a part - must rest on absolutism and deny relativism. — Murray Rothbard

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

Since predation must be supported out of the surplus of production, it is necessarily true that the class constituting the State - the full-time bureaucracy (and nobility) - must be a rather small minority in the land, although it may, of course, purchase allies among important groups in the population. Therefore, the chief task of the rulers is always to secure the active or resigned acceptance of the majority of the citizens.8, 9 Of — Murray N. Rothbard

One gratifying aspect of our rise to some prominence is that, for the first time in my memory, we, 'our side,' had captured a crucial word from the enemy . . . 'Libertarians' . . . had long been simply a polite word for left-wing anarchists, that is for anti-private property anarchists, either of the communist or syndicalist variety. But now we had taken it over... — Murray N. Rothbard

Private philanthropy is the direct expression of the great Christian principle of the brotherhood of man and the Golden Rule. Private philanthropy indeed is the only valid expression of these ethical principles; compulsory charity through 'social legislation' is the exact contrary: it is the evil imposition of force by one group on another. — Murray Rothbard

The natural tendency of government, once in charge of money, is to inflate and to destroy the value of the currency. — Murray Rothbard

This, by the way, is the welfare state in action: Its a whole bunch of special interest groups screwing consumers and taxpayers, and making them think they're really benefiting. — Murray Rothbard

It is not so evident why intellectuals need the State. Put simply, we may state that the intellectual's livelihood in the free market is never too secure. — Murray N. Rothbard

Especially has the State been successful in recent centuries in instilling fear of other State rulers. Since the land area of the globe has been parceled out among particular States, one of the basic doctrines of the State was to identify itself with the territory it governed. Since most men tend to love their homeland, the identification of that land and its people with the State was a means of making natural patriotism work to the State's advantage. If "Ruritania" was being attacked by "Walldavia," the first task of the State and its intellectuals was to convince the people of Ruritania that the attack was really upon them and not simply upon the ruling caste. In this way, a war between rulers was converted into a war between peoples, with each people coming to the defense of its rulers in the erroneous belief that the rulers were defending them. — Murray N. Rothbard

I think one of the most important directions to be pursued in the 'sciences of human action' is to develop a natural-law ethics based on nature rather than, or at least to supplement, ethics based on theological revelation. — Murray Rothbard

In a sense, the market, by expecting a fall in prices, discounts that fall and makes it happen right away instead of later. Expectations speed up future price reactions. — Murray Rothbard

There can be no such thing as 'fairness in taxation.' Taxation is nothing but organized theft, and the concept of a 'fair tax' is therefore every bit as absurd as that of 'fair theft.' — Murray Rothbard

What ... can the government do to help the poor? The only answer is the libertarian answer: Get out of the way. — Murray Rothbard

In fact, the libertarian would reason that the fact that human nature is a mixture of both good and evil provides its own particular argument in his favor. For if man is such a mixture, then the best societal framework is surely one in which evil is discouraged and the good encouraged. The libertarian maintains that the existence of the State apparatus provides a ready, swift channel for the exercise of evil, since the rulers of the State are thereby legitimated and can wield compulsion in ways that no one else is permitted to do. — Murray Rothbard

States have always needed intellectuals to con the public into believing that its rule is wise, good, and inevitable — Murray Rothbard

Minimum wage laws tragically generate unemployment, especially among the poorest and least skilled or educated workers ... Because a minimum wage, of course, does not guarantee any worker's employment; it only prohibits, by force of law, anyone from being hired at the wage which would pay his employer to hire him. — Murray Rothbard

Unlike the days of the gold standard, it is impossible for the Federal Reserve to go bankrupt; it holds the legal monopoly of counterfeiting (of creating money out of thin air) in the entire country. — Murray Rothbard

Passports were originally created to provide safe conduct in time of war. During most of the eighteenth century it seldom occurred to Europeans to abandon their travels in a foreign country which their own was fighting. — Murray N. Rothbard

The libertarian creed ... offers the fulfillment of the best of the American past along with the promise of a far better future. Libertarians are squarely in the great classical liberal tradition that built the United States and bestowed on us the American heritage of individual liberty, a peaceful foreign policy, minimal government, and a free-market economy. — Murray Rothbard

Gorbachev's stance contrasts admirably with the policy of the sainted Abraham Lincoln, who used massive force and mass murder to force the seceding Southern states to remain in the Union. — Murray Rothbard

Briefly, the State is that organization
in society which attempts to maintain a
monopoly of the use of force and violence in a given territorial area; in particular, it is the only
organization in society that obtains its revenue not by voluntary contribution or payment for
services rendered but by coercion. — Murray N. Rothbard

Only the State legally obtains its revenue by coercion. — Murray Rothbard