Bob Murphy on Rothbard’s What Has Government Done to Our Money?
Rothbard called Mises's The Theory of Money and Credit "the best book on money ever written." But Rothbard himself may have written the best money book for lay readers, namely What Has Government Done to Our Money? Bob Murphy joins the show to
The Fundamental Economic Problem with Biden’s Rescue Plan
March 31 gave us a statement on the American Jobs Plan, and April 28 saw President Joe Biden speak on it to the American people (well, roughly 8 percent of the American people). The goal of the law is the following: While the
Lord Acton: Libertarian Hero
[Originally published April 4, 2006, at LewRockwell.com] "You would spare these criminals, for some mysterious reason. I would hang them higher than Haman, for reasons of quite obvious justice; still more, still higher, for the sake of historical science."1 Thus ends a
Murray Rothbard as a Philosopher
Murray Rothbard was a polymath, and philosophy is one of the fields to which he made important contributions. When people think of him as a philosopher, though, they often have in mind only his work in ethics and political philosophy,
The New Deal and Recovery, Part 13: Fear Itself (Continued)
(This post continues my discussion of the "regime uncertainty" hypothesis, according to which the New Deal hampered recovery by causing businessmen to fear policy changes that might render their investments unprofitable.) Insull's Monstrosity The 1935 Revenue Act wasn't the only measure that
Role of Local communities and barter transactions in a country
Local communities are the fundamental unit of a country’s demography. Not only these communities shape the demand and supply of the country but also help in gaining capital flows and foreign investments from other countries. Despite being a fundamental unit
Milton Friedman’s Methodological Mistake
In 1966, famed Chicago School economist Milton Friedman wrote a hugely influential essay on the methodology of economics entitled "The Methodology of Positive Economics" (contained in the volume Essays in Positive Economics). In distinguishing economics as a “positive science”, Friedman
Tobacco Smokers: America’s Most Persecuted Minority
[Editor's Note: following reports that the Biden administration is planning to ban menthol cigarettes and flavored cigarettes, the following is an article by Murray Rothbard written in August 1994.] Quick: Which is America’s Most Persecuted Minority? No, you’re wrong. (And it’s not
Local Nullification: A Way to Fight Both State and Federal Despots
Throughout American history, decentralists have championed “states’ rights” as the winning strategy for freedom, but what if that’s not enough? After all, states, in many cases, have themselves become instruments of grave tyranny. What are citizens to do when their
Carola Binder on Technopopulism and Central Banks
In her CMFA working paper, Carola Binder discusses a new approach for understanding why central bankers are pressured—by both politicians and the public—to deviate from their mandates. Further, Binder argues that this new approach "strengthens the case for limiting monetary