Great Lives

Murray Rothbard

1926–1995 · American economist of the Austrian School, student of Ludwig von Mises, and leading theorist of anarcho-capitalism.

Murray Newton Rothbard was born in New York City in 1926, the son of Jewish immigrants; his father was a chemist. He studied mathematics and then economics at Columbia University, which granted him a doctorate in 1956. After reading Mises's Human Action in 1949 he joined Mises's seminar in New York, and his treatise Man, Economy, and State (1962) began as a textbook explaining Mises's system. America's Great Depression (1963) blamed the slump on government and central-bank policy rather than on the market. Rothbard went further than Mises: in For a New Liberty (1973) and The Ethics of Liberty (1982) he argued that even police, courts, and defense should be provided privately, a view called anarcho-capitalism. He opposed central banking and foreign military intervention. He taught at Brooklyn Polytechnic Institute from 1966 and at the University of Nevada, Las Vegas, from 1986, and in 1982 helped found the Mises Institute. His later alliances with paleoconservatives and right-wing populists, and friendships with Holocaust deniers, drew sharp criticism, including from other libertarians. He died in New York in 1995.

Faith: Raised in a secular Jewish family, he was not religious and described himself as part agnostic, part Reform Jew; he criticized libertarian hostility to religion, and friends expected him to become a Catholic late in life, but he never did. Source: Wikipedia

See also: Ludwig von Mises · Carl Menger · Eugen von Böhm-Bawerk · Friedrich A. Hayek · Milton Friedman

Key dates

  • 1926 Born in New York City
  • 1949 Reads Mises's Human Action and soon joins his New York seminar
  • 1956 Receives his doctorate in economics from Columbia University
  • 1962 Man, Economy, and State published
  • 1963 America's Great Depression published
  • 1973 For a New Liberty published
  • 1982 The Ethics of Liberty published; helps found the Mises Institute
  • 1995 Dies in New York City

Major works

  • Man, Economy, and State (1962) · Two-volume treatise on economic principles in the tradition of Mises's Human Action
  • America's Great Depression (1963) · Blames the Depression on the credit expansion of the 1920s and on government intervention
  • What Has Government Done to Our Money? (1963) · Short popular essay on money, banking, and inflation
  • Power and Market (1970) · Critique of government intervention, first planned as part of Man, Economy, and State
  • For a New Liberty (1973) · His manifesto for a society without a state
  • Conceived in Liberty (1975–1979) · Four-volume history of colonial America to the Revolution
  • The Ethics of Liberty (1982) · Natural-law argument for property rights and against the state
  • An Austrian Perspective on the History of Economic Thought (1995) · Two-volume history, published the year he died

Read about them

Grades 9–12

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