Murray Rothbard

Murray Rothbard (1926–1995) was an American economist and political theorist who developed anarcho-capitalism and helped shape modern libertarianism.

Anarcho-capitalism: A political philosophy that rejects the state and holds that protection and other services can be supplied through voluntary exchange. Rothbard gave this philosophy its systematic modern form.
Praxeology: The study of human action through deductions from the premise that people act purposefully. Rothbard used praxeology to organize his account of economic laws and market exchange.
Ludwig von Mises: An Austrian economist who developed praxeology and defended liberalism against socialism and state intervention. Mises’s economics strongly shaped Rothbard, who studied in his New York seminar.
Ayn Rand: A Russian-American novelist and philosopher who founded Objectivism, a system centered on reason, individualism, and capitalism. Rothbard shared her defense of capitalism but rejected her ethical system and political prescriptions.
For a New Liberty: Rothbard’s 1973 book presenting anarcho-capitalism as a practical political program. It brought his case for replacing state services with voluntary institutions to a broad audience.
Natural rights: Rights understood as grounded in human nature or reason rather than granted by governments. Rothbard defended individual rights as objective constraints on political authority.
Man, Economy, and State: Rothbard’s 1962 treatise deriving economic analysis from human action and extending it to intervention and the state. This work lays out the analytical framework behind much of his economics.
Frank Chodorov: An American individualist writer and educator associated with the Old Right and opposition to centralized government. Chodorov’s anti-statist writings helped draw Rothbard toward the American individualist tradition.
Milton Friedman: An American economist who defended markets and limited government and became a leading advocate of monetarism. Their disagreement over monetary institutions and the proper scope of government marked different libertarian approaches.
The Mystery of Banking: Rothbard’s 1983 book explaining banking and money from an Austrian and free-market perspective. It became a widely circulated statement of his critique of central banking and fractional reserves.

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