17 votes

Murray Rothbard on the Future Prospects for Liberty

This week we turn to Murray Rothbard to see how he felt about the prospects for the future of Austrian economics.  After you take in the awesome '80's mullets and staches in the audience, Rothbard's thoughts should excite everyone with an interest in Austrian economics, and by logical extension the liberty movement as a whole.


Rothbard was always a long term optimist and advocated that libertarians should be optimistic in the long run, and present themselves as such. While Rothbard's long term optimism is nothing new here, what I found interesting is the example he cites. According to Rothbard, within economists in Eastern Europe Austrian economics like Ludwig Von Mises and F.A. Hayek are revered figures. This is in stark contrast to the U.S., where Keynesians such as Paul Krugman are looked at as all-knowing economic wizards.

Rothbard goes on to say that "nobody reveres Keynes and Galbraith over there. They've had it with socialism and statism". This points to the unique position of post-Soviet Union attitudes in Eastern Europe. They have seen first-hand the disastrous effects of central planning.  There is no question to people who have lived through bread lines that central planning cannot provide food. These people have seen the effects of Keynesian economics, and they have rejected it.

Continue Reading

Trending on the Web

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.

ok genius tell us all about 'Justice'

go ahead tell us...

That's EXATCTLY what I've been doing.

And so did Bastiat, but it's falling on deaf ears.

Your eyes, ears, and mind function just fine. The real problem lies in your opening statement. You're afraid of people who hope to serve justice. I say be wary of people who fear justice.

You condemn the very idea of justice, so you put your hands over your eyes, ears, and mouth. Why should I or Bastiat explain justice to you again? It would be a waste of time.

You know what justice is, and you've learned to fear those who serve it.

PS This isn't about portraying myself as smarter than you, and I'm no more a genius than you. If I thought it took a genius to understand justice, I'd never bother trying.

In Your First Sentence...

...are you referring to the US Gov't by any chance?

Why? Are you looking for something to fight against?

"Give me something I can attack rather than the truth please."

Scrutiny? You mean

Japanese, Chinese, Koreans, etc. live under private central bank? You mental capacity is indeed in line with an average anti-Semite.

In 1971, French elected a socialist government and the government had nationalized all big banks and expelled bankers including Rothschilds. Not only French did not get more prosperous after that, they did not get any more freedom.



*Advancing the Ideas of Liberty Daily*

Certainly you're joking; if

Certainly you're joking; if not, then that is just a sad display of blatant ignorance.

Everybody Loves Murray!

We really need to get to work on cloning technology, think of what we could accomplish with the productivity of an army of Rothbards.

Snap to it people.

Those Rothbards aren't gonna clone themselves.

Check out the Laissez-Faire Journal at LFJournal.com

"The State is a gang of thieves writ large." - Murray Rothbard

The Prospects for Liberty Seem Wonderful

...outside the USA.

It seems the value of liberty won't be appreciated here until we've lost it for a few generations and suffer the consequences (as eastern Europeans did).

That's the rub

Unfortunately things may need to get much worse before people are ready to accept the ideas of liberty on a mass scale. We can only be ready armed with knowledge and real hope based on that knowledge.

*Advancing the Ideas of Liberty Daily*

Gottfried Feder

Gottfried Feder - Interest on debts MUST be abolished!

Luke 3:38
Isaiah 43:3-5


Is simply the cost of money based on time preferences of individual actors. It is not only a legitimate market function but a vital one.

*Advancing the Ideas of Liberty Daily*

Absolute rubbish

Absolute rubbish !!!!

Did you get that out of the Talmud?

So how exactly is the interest repaid when only the principal is created???????????????????????

Michael Hoffman Talks About Usury

Luke 3:38
Isaiah 43:3-5

He wasn't advocating central banking.

Have you noticed the Fed is creating money and consequently there is inflation? Well by that fact alone a lender needs to receive the amount of inflation back or he is losing money. But even without a central bank everyone prefers $100 today over $100 next year. Money begets money. Interest is the price of that.

Your talking

out of both ends of your mouth.

Answer the question.

How can you repay the principle amount + interest when on the principle is ever created?

How can you repay a $15 loan when only $10 is created?

Fractional Reserve Banking - Debt Based Currency Scam Explained by Eric Padden

Luke 3:38
Isaiah 43:3-5

You are the one that claimed interest was illegitimate.

I never advocated central or fractional banking. I agree, it's a ponzi. But that does not make interest bad.


How can you repay a $15 loan when only $10 is created?

Luke 3:38
Isaiah 43:3-5

I am assuming you are complaining about

fractional banking. What does that have to do with the legitimacy of interest? Two different subjects. Fractional banking is theft. I don't advocate that.

No I'm not

I'm referring to interest on money.

Luke 3:38
Isaiah 43:3-5


It's important not to confuse government mandated fractional reserve banking and manipulated interest with the concept of interest overall in the free market.

There is nothing wrong with interest in a free market, in fact it is a vital component of a functioning market. The "price" of money is an important aspect of any investing decision.

When the State uses guns to inflict violence, we should condemn the State, not the guns.

When the State uses interest rate manipulation to rig the economy, we should again condemn the State and central banking, not the very concept of interest.

*Advancing the Ideas of Liberty Daily*

I understand

very well the nature and difference between money of account and legal tender in relation to monetary policy, economics and the judicial system.

I think you aren't looking at the problem from all sides.

Interest, irrespective of the interest rate, is the tool which prevents loans from being settled in full. Upheld by a corrupt judiciary.

"There is never enough money in the system to pay back every loan loaned out. So in the end there will always be losers. Its like musical chairs. In the end there is alway not enough chairs. So someone will always be a chair short. Someone will always lose. But the bankers will always win. In the end they end up owning everything. And thats where we are now. They own the banks, media, and politicians."


Luke 3:38
Isaiah 43:3-5


Sorry, but this is simply faulty economics. Sure, when we are discussing the Federal Reserve which literally creates money out of nothing and then charges interest on that money. That is understood.

But in free market banking, which I agree we have nothing resembling, interest is an absolutely vital function. The rate of interest is dependent upon the amount of savings a bank has, and is determined by market forces.

If I take out $100 loan to start my business and pay back $110 when my business takes off,how was there "not enough money in the system".

It has nothing to do with "money in the system", but how investors and savers interact through money.

*Advancing the Ideas of Liberty Daily*


comparing apples with oranges.

From my first comment I mentioned we did not have a free market. However the charging of interest allows for wealth to be monopolized by those vampires colluding in the shadows.

Making money purely for having money is not only morally wrong, it a tool for enslavement. Will always lead to problems. That's why it was forbidden in the Bible

And Rothbard is of that tribe of vampires!

Read Protocol No:20 from The Protocols of the Elders of Zion.

Luke 3:38
Isaiah 43:3-5

Is Rotbard saying post Soviet Russia is...

pursuing Austrian economics? If so, this makes sense because mafia organizations control much of Russia's economy. And these mafia organizations have huge deposits in Cyprus banks that cater to ancaps looking for "tax optimization" schemes. How's anarcho-barbarism working out for the people of Cyprus?

http://www.dailypaul.com/277342 (Rand Paul: One person can make a difference)
http://www.StandUpForYourRights.me/?p=1264 (Fast and Furious hearing)


Um...that's quite a leap you made there. So in your mind, the "anarcho-barbarians" like Rothbard influenced Russians to deposit money into Cyprus banks and therefore these people should just deserve their GOVERNMENT-IMPOSED levy on their accounts.

I think you are very confused about what Austrian economics is if you think crony banksters and government bailouts have anything to do with it.

*Advancing the Ideas of Liberty Daily*

Just sayin...

what ancaps promote in theory is different from what ancaps do in practice.

http://www.dailypaul.com/277342 (Rand Paul: One person can make a difference)
http://www.StandUpForYourRights.me/?p=1264 (Fast and Furious hearing)


In this current anti-market climate, ancaps simply try -- as all humans are required -- to put as much distance as possible between themselves and bureaucratic coercion.

Are you still volunteering to be a slave?

AnBarbs are just Anarchists

Aren't you the guy who said all politicians are statists? You're an Anarchist and so are all the other frauds who try to connect themselves to Capitalism.

You're just another Anarchist wearing a costume...

As if...

mafia organizations (ancaps) don't have bureaucracies that enslave people. I prefer to take my chances with a limited Constitutional government that isn't based solely on the law that the strong dominate the weak.

http://www.dailypaul.com/277342 (Rand Paul: One person can make a difference)
http://www.StandUpForYourRights.me/?p=1264 (Fast and Furious hearing)