Books about Rothbard from Amazon.com

The most powerful case against the American central bank ever written This work begins with a mini-treatment of money and banking theory, and then plunges right in with the real history of the Federal Reserve System. Rothbard covers the struggle between competing elites and how they converged with the Fed.

Rothbard calls for the abolition of the central bank and a restoration of the gold standard. His popular treatment incorporates the best and most up-to-date scholarship on the Fed's origins and effects.

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Price: $9.00 [Notify me when price goes down.]

The Mises Institute is pleased to present this very beautiful hardbound edition of Rothbard's most famous monetary essay--the one that has influenced two generations of economists, investors, and business professionals. The Mises Institute has united this book with its natural complement: a detailed reform proposal for a 100 percent gold dollar. The Case for a 100 Percent Gold Dollar was written a decade before the last vestiges of the gold standard were abolished. His unique plan for making the dollar sound again still holds up. Some people have said: Rothbard tells us what is wrong with money but not what to do about it. Well, by adding this essay, the problem and the answer are united in a comprehensive whole. After presenting the basics of money and banking theory, he traces the decline of the dollar from the 18th century to the present, and provides lucid critiques of central banking, New Deal monetary policy, Nixonian fiat money, and fixed exchange rates. He also provides a blueprint for a return to a 100 percent reserve gold standard. The book made huge theoretical advances. He was the first to prove that the government, and only the government, can destroy money on a mass scale, and he showed exactly how they go about this dirty deed. But just as importantly, it is beautifully written. He tells a thrilling story because he loves the subject so much. The passion that Murray feels for the topic comes through in the prose and transfers to the reader. Readers become excited about the subject, and tell others. Students tell professors. Some, like the great Ron Paul of Texas, have even run for political office after having read it. Rothbard shows precisely how banks create money out of thin air and how the central bank, backed by government power, allows them to get away with it. He shows how exchange rates and interest rates would work in a true free market. When it comes to describing the end of the gold standard, he is not content to describe the big trends. He names names and ferrets out all the interest groups involved. Since Rothbard's death, scholars have worked to assess his legacy, and many of them agree that this little book is one of his most important. Though it has sometimes been inauspiciously packaged and is surprisingly short, its argument took huge strides toward explaining that it is impossible to understand public affairs in our time without understanding money and its destruction..
Price: $17.00 [Notify me when price goes down.]

Applied Austrian economics doesn't get better than this. Murray N. Rothbard's America's Great Depression is a staple of modern economic literature and crucial for understanding a pivotal event in American and world history.

The Mises Institute edition features, along with a new introduction by historian Paul Johnson, top-quality paper and bindings, in line with the standard set by The Scholars Edition of Human Action.

Since it first appeared in 1963, it has been the definitive treatment of the causes of the depression. The book remains canonical today because the debate is still very alive.

Rothbard opens with a theoretical treatment of business cycle theory, showing how an expansive monetary policy generates imbalances between investment and consumption. He proceeds to examine the Fed's policies of the 1920s, demonstrating that it was quite inflationary even if the effects did not show up in the price of goods and services. He showed that the stock market correction was merely one symptom of the investment boom that led inevitably to a bust.

The Great Depression was not a crisis for capitalism but merely an example of the downturn part of the business cycle, which in turn was generated by government intervention in the economy. Had the book appeared in the 1940s, it might have spared the world much grief. Even so, its appearance in 1963 meant that free-market advocates had their first full-scale treatment of this crucial subject. The damage to the intellectual world inflicted by Keynesian- and socialist-style treatments would be limited from that day forward..
Price: $24.99 [Notify me when price goes down.]

Talk about great timing. Rothbard's extraordinary book unravels the mystery of banking: what is legitimate enterprise and what is a government-backed shell game that can't last. His explanation is clear enough for anyone to follow and yet precise and rigorous enough to be the best, textbook for college classes on the topic. This is because its expositional clarity--in its hitosry and theory--is essentially unrivaled.

Most notably, he uses the T account method of explaining the relationship between deposits and loans, showing the inherent instability of fractional reserve banking and how it sets the stage for centralization, inflation, and the boost-bust cycle.

But there is more here. It is an explanation of money's origins and its meaning in the free market. The abstract theory is here but always with real application in history and in modern banking practice. Never does a paragraph go by without an example drawn from his massive knowledge of the subject.

Even further, he explains the integration between microeconomics and the business cycle. As Douglas French writes in the introduction: "Although first published 25 years ago, Murray Rothbard s The Mystery of Banking continues to be the only book that clearly and concisely explains the modern fractional reserve banking system, its origins, and its devastating effects on the lives of every man, woman, and child. It is especially appropriate in a year that will see; a surge in bank failures, central banks around the globe bailing out failed commercial and investment banks, double-digit inflation rates in many parts of the world and hyperinflation completely destroying Zimbabwe s economy, that a new edition of Rothbard s classic work be republished and made available through the efforts of Lew Rockwell and the staff at the Ludwig von Mises Institute. Priced affordably for students and laymen interested in the vagaries of banking and how inflation and business cycles are created."

Further, Joseph Salerno explains in the Foreword: "The Mystery of Banking is perhaps the least appreciated work among Murray Rothbard s prodigious body of output. This is a shame because it is a model of how to apply sound economic theory, dispassionately and objectively, to the origins and development of real-world institutions and to assess their consequences. It is institutional economics at its best. In this book, the institution under scrutiny is central banking as historically embodied in the Federal Reserve System the Fed for short the central bank of the United States.

"Rothbard s presentation of the basic principles of money-and-banking theory in the first eleven chapters of the book guides the reader in unraveling the mystery of how the central bank operates to create money through the fractional-reserve banking system and how this leads to inflation of the money supply and a rise in overall prices in the economy. But he does not stop there. In the subsequent five chapters he resolves the historical mystery of how an inherently inflationary institution like central banking, which is destructive of the value of money and, in the extreme case of hyperinflation, of money itself, came into being and was accepted as essential to the operation of the market economy."

Incredibly, both authors correctly anticipate the current crisis -- and Rothbard explains it all and shows the way out. This is certainly the book for today, more essential than ever before.

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Price: $17.00 [Notify me when price goes down.]

Booms and busts are not endemic to the free market, argues the Austrian theory of the business cycle, but come about through manipulation of money and credit by central banks. In this monograph, Austrian giants explain and defend the theory against alternatives. Includes essays by Mises, Rothbard, Haberler, and Hayek. In his later years, Professor Haberler distributed many of these monographs to friends and associates. New edition with an introduction by Roger Garrison and an index..
Price: $9.75 [Notify me when price goes down.]

A pillar of the Austrian School Library and the last full-blown treatise on economics If Mises's Human Action was the culmination of the School from Menger's time, Rothbard's treatise takes Austrian thought even further in the areas of utility and welfare economics, antitrust, labor, taxation, public goods, and social insurance schemes. Inconsistencies are ironed out and the system of thought, in all its logical rigor, is unbroken.

More than any book, Man, Economy, and State taught economics to the post-Mises generation. It refutes still-common errors among the mainstream and grapples with the post-war Keynesian literature point by point. The impact of this work was also enhanced by its breathtaking logic and clarity, even in the most difficult subject areas.

Special insights along the way include a full critique of government statistics and the Fed's definitions of the money supply. Nearly twenty-five years after it first appeared in print, it remains the standard bearer for the Austrian School..
Price: $19.84 [Notify me when price goes down.]

In recent years, libertarian impulses have increasingly influenced national and economic debates, from welfare reform to efforts to curtail affirmative action. Long out of print, Murray N. Rothbard's classic The Ethics of Liberty stands as one of the most rigorous and philosophically sophisticated expositions of the libertarian political position.

What distinguishes Rothbard's book is the manner in which it roots the case for freedom in the concept of natural rights and applies it to a host of practical problems. An economist by profession, Rothbard here proves himself equally at home with philosophy. And while his conclusions are radical—that a social order that strictly adheres to the rights of private property must exclude the institutionalized violence inherent in the state—his applications of libertarian principles prove surprisingly practical for a host of social dilemmas, solutions to which have eluded alternative traditions. The Ethics of Liberty authoritatively established the anarcho-capitalist economic system as the most viable and the only principled option for a social order based on freedom. The current edition is newly indexed and includes a new introduction that takes special note of the Robert Nozick-Rothbard controversies..
Price: $19.80 [Notify me when price goes down.]

This remarkable piece of history will change the way you look at American politics. It shows that the corruption of American "conservatism" began long before George W. Bush ballooned the budget and asserted dictatorial rights over the country and the world. The American Right long ago slid into the abyss. Betrayal of the American Right is the full story, and the author is none other than Murray N. Rothbard, who witnessed it all first hand. He tells his own story and reveals that machinations behind the subversion of an anti-state movement into one that cheers statism of the worst sort. The book was written in the mid-1970s and is only now published for the first time. Each time a prospective publisher promised to go ahead, the deal fell through. Even so, it has been privately circulated for the 30 years since it was written - and everyone lucky enough to own a copy of the manuscript knew he had a treasure. People who have read it swear that it is the best account ever how the old right was subverted to become a propaganda branch of the state, not just recently but fifty years ago. So Rothbard's account is not only a critical historical document; it also has explosive explanatory power. According to Rothbard, the corruption of the right began in the ten years after the end of the Second World War. Before then, a strong movement of journalists, writers, and even politicians had formed during the New Deal and after. There was a burgeoning literature to explain why New Deal-style central planning was bad for American liberty. They also saw that central planning and war were linked as two socialistic programs. The experience of war was telling. Prices were controlled by central edict. Businesses were not free to buy and sell. Government spending went through the roof. The Fed's money machine ran constantly. The war was a continuation of the New Deal by others means. They learned that a president dictatorial enough to manipulate the country into war would think nothing of ending liberty at home. There were wonderful intellectuals in this movement: Frank Chodorov, John T. Flynn, Garet Garrett, Albert Jay Nock, Rose Wilder Lane, and dozens of others. This movement didn't want to conserve anything but liberty. They wanted to overthrow the alien regime that had taken hold of the country and restore respect for the Constitution. They believed in the free market as a creative mechanism to improve society. They favored a restoration of the gold standard, decentralized government, and peace and friendship with all nations (as George Washington wanted). Murray Rothbard recounts all this, and then enters into the picture. He was a central player in the unfolding events. As a young man, he first encountered the new generation of people on the right who departed dramatically from the old. They were the first "neoconservatives." They favored war as a means. They were soft on executive dictatorship. They considered economics rather trivial compared with the struggle against international foes. They found new uses for the state in the domestic realm as well. They like the CIA, the FBI, and no amount of military spending was enough for them. A leader of the movement William F. Buckley even called for a "totalitarian bureaucracy within our shores" so long as Russia, which had been an alley in the war, had a communist system. This transformation was formative for Rothbard. He began an intellectual journey that would lead to a break from the movement that was now calling itself conservative. He studied with Ludwig von Mises during and after his graduate school years. He wrote a seminal book on economics. He wrote at a fevered pace for the popular press. By 1965, he found that he was pretty much alone in carrying on the Old Right vision. Most everyone else had died or had entered.
Price: $23.00 [Notify me when price goes down.]