Rothbard shows how money must originate from a commodity. In an ideal system, a dollar would be a unit of weight, and paper money would operate strictly as warehouse receipts for the stock of the monetary metal. There would be no fractional reserve banking. Rothbard offers a rebuttal to the objections to a 100 percent gold dollar raised by Professor Leland Yeager.
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Murray N. Rothbard made major contributions to economics, history, political philosophy, and legal theory. He combined Austrian economics with a fervent commitment to individual liberty.
We must realize that the two most powerful motivations in human history have always been ideology and economic interest, and that a joining of these two motivations can be downright irresistible.
The revolutionaries include the pamphleteer writing in his study, the journalist, the agitator, the organizer, the campus activist, the theoretician, the philanthropist.
November 11 was once known as Armistice Day, the day set aside to celebrate the end of WWI. In this essay Rothbard discusses the war as the triumph of several Progressive intellectual strains from the late 19th and early 20th centuries.
Mises Institute, 2001
