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.
The problem is not the inefficiency of a conscript army; the problem is the gross immorality — indeed, the massive criminality — of drafting young men ... to kill or be killed against their will.
Rothbard argues that genuine science in the social realm starts with clear logic about human action.
Into the heart of the peasant and nomadic Arab world of the Middle East there came, on the backs and on the bayonets of British imperialism, a largely European colonizing people.
Mises Institute, 2001
