Murray N. Rothbard, March 2, 1926-January 7, 1995.

Celebrate the centennial and the life and work of the prolific economist, historian, and libertarian philosopher at https://mises.org/mises-wire/celebrate-murrays-100th-birthday-us

Murray Rothbard’s insights over the years.

The picture of the free market is necessarily one of harmony and mutual benefit; the picture of State intervention is one of caste conflict, coercion, and exploitation.

Gold and silver are always in demand, regardless of clime, century, or government in power. But public confidence in and, hence, demand for paper money depends on the ultimate confidence - or lack thereof - of the public in the viability of the issuing government.

It is in war that the State really comes into its own: swelling in power, in number, in pride, in absolute dominion over the economy and the society.

Libertarians regard the state as the Supreme, the eternal, the best organized aggressor against the persons and property of the mass of the public. All states everywhere, whether democratic, dictatorial, or monarchical, whether red, white, blue or brown.

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March 2 marks the 100th anniversary of Murray Rothbard—economist, libertarian philosopher, and historian—whose work reshaped each of those disciplines and inspired generations of scholars. For me, this centennial is deeply personal. Rothbard served on my dissertation committee, and since the 1970s his ideas have profoundly influenced my intellectual journey.

My dissertation on the geography of inflation, inspired by Rothbard’s explanation of the diffusion of new money, was hailed by a University of Chicago professor: “You are to be congratulated on the theoretical and critical depth of your thesis.”

As an economist, Rothbard extended and systematized the Austrian tradition of Ludwig von Mises. In Man, Economy, and State, he built upon economic theory from the foundation of human action, presenting a comprehensive treatise that combined rigorous logic with clarity and moral purpose. Rothbard emphasized methodological individualism, the centrality of property rights, and the distortions caused by state intervention, especially inflation and central banking. His analysis of money and banking anticipated many later critiques of fiat currency regimes and remains essential reading for anyone seeking to understand the political economy of monetary institutions.

In political philosophy, Rothbard’s For a New Liberty and The Ethics of Liberty articulated a systematic defense of natural rights and a free society grounded in the nonaggression principle. He did not merely argue for smaller government; he questioned the moral legitimacy of the state itself. By integrating economics with ethical theory, Rothbard offered a radical yet coherent vision of liberty that challenged both conservatives and progressives. His philosophical work gave moral force to economic insights, demonstrating that markets are not only efficient but just.

As a historian, Rothbard brought a revisionist lens to American political and economic development. In America’s Great Depression, he overturned the conventional view that capitalism caused the 1930s collapse, instead tracing the crisis to monetary expansion and policy errors. His multi-volume Conceived in Liberty revealed the libertarian currents in early American history, restoring to prominence neglected figures and ideas that championed decentralization and individual rights. Rothbard showed that history, like economics, must be grounded in sound theory and skepticism of power.

Since the 1970s, his integration of economics, philosophy, and history has guided my own work—reinforcing a commitment to methodological consistency, moral clarity, and historical honesty.

On this centennial, we celebrate not only a towering scholar but a teacher whose ideas continue to animate the cause of liberty.

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The Crash of 2029 talk feedback. MAFI will help shield you from the next major economic downturn.

Thank you again for inviting me to your speech today. You hit the nail on the head all your great charts and their truth speaking messages. Egon B.

I attended your talk this morning. Terrific material & excellent presentation. I, too, am a former professor, so please accept my compliments as someone from the same line of work…. I still cannot figure out how politicians believe they know better than the market. Dennis L.

Dr. Murray Sabrin’s presentation on the likelihood of a Crash in 2029, or shortly thereafter, was a fact-based investigation into the primary indicators that provide glimpses into future trends. Professor Sabrin explains these indicators in everyday language revealing a precarious economic situation that may change abruptly impacting the quality of life of every American. If you’d like to avoid getting entangled in the boom bust cycle and protect yourself from its fallout, learning from this presentation may help you do just that. Joseph S., M.S., PhD

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I created the MAFI movement—MAKE AMERICANS FINANCIALLY INDEPENDENT—to take back the country from the statists, democratic socialists, money printers, and the military-industrial complex. Please visit the revised mafius.com website.

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To celebrate the 250th anniversary of the Declaration of Independence on July Fourth, you can order a MAFI hat with the coupon code CELEBRATE10 for a $10 discount. When you wear a MAFI hat, you officially become a MAFI(oso) and a member of the movement to restore financial independence and economic freedom in America.

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Murray Sabrin, PhD, is emeritus professor of finance, Ramapo College of New Jersey. Dr. Sabrin is considered a “public intellectual” for writing about the economy in scholarly and popular publications. He is also an Associated Scholar at the Mises Institute. His book, The Finance of Health Care: Wellness and Innovative Approaches to Employee Medical Insurance (Business Expert Press, Oct. 24, 2022), and his other BEP publication, Navigating the Boom/Bust Cycle: An Entrepreneur’s Survival Guide (October 2021),provides decision makers with tools needed to help manage their businesses during the business cycle. Sabrin’s autobiography, From Immigrant to Public Intellectual: An American Story, was published in November, 2022. He is also the author of Why the Federal Reserve Sucks.