Murray Rothbard

Murray Newton Rothbard (March 2, 1926 – January 7, 1995) was an American economist of the Austrian School, economic historian, political theorist, and activist.

Rothbard was a central figure in the 20th-century American libertarian movement, particularly its right-wing strands, and was a founder and leading theoretician of anarcho-capitalism.

He wrote over twenty books on political theory, history, economics, and other subjects.

Rothbard argued that all services provided by the "monopoly system of the corporate state" could be provided more efficiently by the private sector and wrote that the state is "the organization of robbery systematized and writ large".

He called fractional-reserve banking a form of fraud and opposed central banking.

He categorically opposed all military, political, and economic interventionism in the affairs of other nations.

According to his protégé Hans-Hermann Hoppe, "[t]here would be no anarcho-capitalist movement to speak of without Rothbard".

Hoppe described Rothbard as leading a "fringe existence" in academia.

Rothbard rejected mainstream economic methodologies and instead embraced the praxeology of Ludwig von Mises.

During the 1940s, Rothbard vetted articles for Leonard Read at the Foundation for Economic Education think tank, became acquainted with Frank Chodorov, and read widely in libertarian-oriented works by Albert Jay Nock, Garet Garrett, Isabel Paterson, H. L. Mencken, and Austrian economist Ludwig von Mises.

Rothbard attended Columbia University, where he received a Bachelor of Arts degree in mathematics in 1945 and a PhD in economics in 1956.

His first political activism came in 1948, on behalf of the segregationist South Carolinian Strom Thurmond's presidential campaign.

In the 1948 presidential election, Rothbard, "as a Jewish student at Columbia, horrified his peers by organizing a Students for Strom Thurmond chapter, so staunchly did he believe in states' rights", according to The American Conservative.

The delay in receiving his PhD was due in part to conflict with his advisor, Joseph Dorfman, and in part to Arthur Burns's rejecting his dissertation.

Burns was a longtime friend of the Rothbards and their neighbor at their Manhattan apartment building.

It was only after Burns went on leave from the Columbia faculty to head President Eisenhower's Council of Economic Advisers that Rothbard's thesis was accepted and he received his doctorate.

Rothbard later said that all his fellow students were extreme leftists and that he was one of only two Republicans at Columbia at the time.

In the 1950s, when Mises was teaching in the Wall Street division of the New York University Stern School of Business, Rothbard attended his unofficial seminar.

Rothbard was greatly influenced by Mises's book Human Action.

Rothbard wanted to promote libertarian activism; by the mid-1950s he helped form the Circle Bastiat, a libertarian and anarchist social group in New York City.

He also joined the Mont Pelerin Society in the 1950s.

Rothbard attracted the attention of the William Volker Fund, a group that provided financial backing to promote right-wing ideologies in the 1950s and early 1960s.

The Volker Fund paid Rothbard to write a textbook to explain Human Action in a form that could be used to introduce college undergraduates to Mises's views; a sample chapter he wrote on money and credit won Mises's approval.

For ten years, the Volker Fund paid him a retainer as a "senior analyst".

As Rothbard continued his work, he enlarged the project.

Rothbard described his father as an individualist who embraced minimal government, free enterprise, private property and "a determination to rise by one's own merits… "[A]ll socialism seemed to me monstrously coercive and abhorrent". In 1952, his father was trapped during a labor strike at the Tide Water Oil Refinery in New Jersey, which he managed, confirming their dislike of organized labor.

The result was his book Man, Economy, and State, published in 1962.

Partnering with the oil billionaire Charles Koch, Rothbard was a founder of the Cato Institute and the Center for Libertarian Studies in the 1970s.

He broke with Koch and joined Lew Rockwell and Burton Blumert in 1982 to establish the Mises Institute in Alabama.

Rothbard opposed egalitarianism and the civil rights movement, and blamed women's voting and activism for the growth of the welfare state.

He promoted historical revisionism and befriended the Holocaust denier Harry Elmer Barnes.

Later in his career, Rothbard advocated a libertarian alliance with paleoconservatism (which he called paleolibertarianism), favoring right-wing populism and defending David Duke.

Rothbard taught economics at a Wall Street division of New York University, later at Brooklyn Polytechnic, and after 1986 in an endowed position at the University of Nevada, Las Vegas.

In the 2010s, he received renewed attention as an influence on the alt-right.

Rothbard's parents were David and Rae Rothbard, Jewish immigrants to the United States from Poland and Russia, respectively.

David was a chemist.

Murray attended Birch Wathen Lenox School, a private school in New York City.

He later said he much preferred Birch Wathen to the "debasing and egalitarian public school system" he had attended in the Bronx.

Rothbard wrote of having grown up as a "right-winger" (adherent of the "Old Right") among friends and neighbors who were "communists or fellow-travelers".

He was a member of the New York Young Republican Club in his youth.