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Murray Rothbard
"Rothbard" redirects here. For other uses, see Rothbard (disambiguation).
 Murray Rothbard in the 1990s |
Murray Newton Rothbard (1926-03-02)March 2, 1926 Bronx, New York City, New York, U. S. |
| January 7, 1995(1995-01-07) (aged 68) New York City, New York, U. S. |
| Oakwood Cemetery, Unionville, Virginia, U. S. |
| American |
JoAnn Rothbard (m. 1953) |
| Brooklyn Polytechnic Institute University of Nevada, Las Vegas |
| Austrian School |
| Columbia University |
| Aristotle, Aquinas, Barnes, Bastiat, Bawerk, Calhoun, Cantillon, Chodorov, Hayek, Locke, Mencken, Menger, Mises, Nock, Oppenheimer, Plato, Rand, Say, Schumpeter, Socrates, Spencer, Spooner, Sumner, La Boétie |
| Anarcho-capitalism, historical revisionism, libertarianism, paleolibertarianism, title-transfer theory of contract |
Murray Newton Rothbard (; March 2, 1926 – January 7, 1995) was an American heterodox economist of the Austrian School,[1][2][3][4][5][6][7][8] historian,[9][10] and political theorist.[11] Rothbard was the founder and leading theoretician of anarcho-capitalism, a staunch advocate of historical revisionism and a central figure in the 20th-century American libertarian movement. He wrote over twenty books on political theory, revisionist history, economics, and other subjects.[12]
Rothbard argued that all services provided by Lew rockwell bitcoin mining "monopoly system of the corporate state" could be Lew rockwell bitcoin mining more efficiently Lew rockwell bitcoin mining the private sector and wrote that the state is "the organization of robbery systematized and writ large".[13][14][15][16][17][18] He called fractional-reserve banking a form of fraud and opposed central banking.[19] He categorically opposed all military, political, and economic interventionism in the affairs of other nations.[20][21] According to his protégé Hans-Hermann Hoppe, "[t]here would be no anarcho-capitalist movement to speak of without Rothbard".[22]
Libertarian economist Jeffrey Herbener, who calls Rothbard his friend and "intellectual mentor", wrote that Rothbard received "only ostracism" from mainstream academia.[23] Rothbard rejected mainstream economic Lew rockwell bitcoin mining and instead embraced the praxeology of his most important intellectual precursor, Ludwig von Mises. To promote his economic and political ideas, Rothbard joined Lew Rockwell and Burton Blumert in 1982 to establish the Mises Institute in Alabama.
Life and work[edit]
Education[edit]
Rothbard's parents were David and Rae Rothbard, Jewish immigrants to the United States from Poland and Russia, respectively. David Rothbard was a chemist.[24] Murray attended Birch Wathen, a private school in New York City.[25] Rothbard later stated that he much preferred Birch Wathen to the "debasing and egalitarian public school system" he had previously attended in the Bronx.[26]
Rothbard wrote of having grown up as a "right-winger" (adherent of the "Old Right") among friends and neighbors who were "communists or Lew rockwell bitcoin mining. He was a member of The New York Young Republican Club in his youth.[27] Rothbard characterized his Lew rockwell bitcoin mining father as an individualist who embraced the American values of 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".[26]
He attended Columbia University, where he received a Bachelor of Arts degree in mathematics in Lew rockwell bitcoin mining and eleven years later his Ph. D. in economics in 1956. The delay in receiving his Ph. D. was due in part to conflict with his advisor, Joseph Dorfman, and in part to Lew rockwell bitcoin mining Burns’s rejecting his doctoral dissertation. Burns was a longtime friend of the Rothbard family and their neighbor at their Manhattan apartment building. It was only after Burns went Lew rockwell bitcoin mining leave from the Columbia faculty to head President Eisenhower's Council of Economic Advisors that Rothbard's thesis was accepted and he received his doctorate.[11](pp43–44)[28] Rothbard later stated that all of his fellow students there were extreme leftists and that he was one of only two Republicans on the Columbia campus at the time.[11](p4)
During the 1940s, Rothbard became acquainted with Frank Chodorov and read widely in libertarian-oriented works by Albert Jay Nock, Garet Garrett, Isabel Paterson, H. L. Mencken, and others as well as Austrian economistLudwig von Mises.[11](p46) In the early 1950s, when Mises was teaching at the Wall Street division of New York UniversityBusiness School, Rothbard attended Mises' unofficial seminar. Rothbard was greatly influenced by Mises' book, Human Action. Rothbard attracted the attention of the William Volker Fund, a group that Lew rockwell bitcoin mining financial backing to promote various right-wing ideologies in the 1950s and early 1960s.[29] The Volker Fund paid Rothbard to write a textbook to explain Human Action in a form which could be used to introduce college undergraduates to Mises' views; a sample chapter he wrote on Lew rockwell bitcoin mining and credit won Mises's approval. For ten years, Rothbard was paid a Lew rockwell bitcoin mining by Lew rockwell bitcoin mining Volker Fund, which designated him a "senior analyst".[11](p54) As Rothbard continued his work, he enlarged the project. The result was Rothbard's book Man, Economy, and State, published in 1962. Upon its publication, Mises praised Rothbard's work effusively.[30](p14)
Marriage, employment, and activism[edit]
In 1953, he married JoAnn Schumacher (1928–1999), whom he called Joey, in New York City.[30](p124) JoAnn was his editor and a close Lew rockwell bitcoin mining as well as hostess of his Rothbard Salon. They enjoyed a loving marriage and Rothbard often called her "the indispensable framework" behind his life and achievements. According to Joey, patronage from the Volker Fund allowed Rothbard to work from home as a freelance theorist and pundit for the first fifteen years of their marriage.[31] The Volker Fund collapsed in 1962, leading Rothbard to seek employment from various New York academic institutions. He was offered a part-time position teaching economics to the engineering students of Lew rockwell bitcoin mining Polytechnic Institute in 1966 at age 40. This institution had no economics department or economics majors and Rothbard derided its social science department as "Marxist". However, Justin Raimondo writes that Rothbard liked his role with Brooklyn Polytechnic because working only two days a week gave him freedom to contribute to developments in libertarian politics.[11]
Rothbard continued in this role for twenty years until 1986.[32][33] Then 60 years old, Rothbard left Brooklyn Polytechnic Institute for the Lee Business School at the University of Nevada, Las Vegas Lew rockwell bitcoin mining, where he held the title of S. J. Hall Distinguished Professor Lew rockwell bitcoin mining Economics, an endowed chair paid for by a libertarian businessman.[34][35] According to Rothbard's friend, colleague and fellow Misesian economist Hans-Hermann Hoppe, Rothbard led a "fringe Lew rockwell bitcoin mining in academia, but he was able to attract a large number of "students and disciples" through his writings, thereby becoming "the creator and one of the principal agents of the contemporary libertarian movement".[36] Rothbard maintained his position at UNLV from 1986 until his death.[32] Rothbard founded the Center for Libertarian Studies in 1976 and the Journal Lew rockwell bitcoin mining Libertarian Studies in 1977. In 1982, he co-founded the Ludwig von Mises Institute in Auburn, Alabama and was vice president of academic affairs until 1995.[32] The Institute's Review of Austrian Economics, a heterodox economics[37] journal later renamed the Quarterly Journal of Austrian Economics, was also founded by Rothbard in 1987.[38]
After Rothbard's death, Joey reflected on Rothbard's happiness and bright spirit, saying that "he managed to make a living for 40 years without having to get up before noon. This was important to him". She recalled how Rothbard would begin every day with a phone conversation with his colleague Lew Rockwell: "Gales of laughter would shake the house or apartment, as they checked in with each other. Murray thought it was the best possible way to start a day".[39] Rothbard was irreligious and agnostic toward the existence of God,[40][41] describing himself as a "mixture of an agnostic and a Reform Jew".[42] Despite identifying as an agnostic and an atheist, Rothbard was critical of the "left-libertarian hostility to religion".[43] In Rothbard's later years, many of his friends anticipated that he would convert to Catholicism, Lew rockwell bitcoin mining he never did.[44]The New York Times obituary called Rothbard "an economist and social philosopher who fiercely defended individual freedom against government intervention".[32]
Conflict with Ayn Rand[edit]
In 1954, Rothbard, along with several other attendees of Mises' seminar, joined the circle of novelist Ayn Rand, the founder of Objectivism. He soon parted from her, writing among other things that her ideas were not as original as she proclaimed, but similar to those of Aristotle, Thomas Aquinas and Herbert Spencer.[11](pp109–14) In 1958, after the publication of Rand's novel Atlas Shrugged, Rothbard wrote a "fan letter" to her, calling the book "an infinite treasure house" and "not merely the greatest novel ever written, [but] one of the very greatest books ever written, fiction or nonfiction". Lew rockwell bitcoin mining also wrote: "[Y]ou introduced me to the whole field of natural rights and natural law philosophy", prompting him to learn "the glorious natural rights Lew rockwell bitcoin mining, 132–34)[45](pp145, Lew rockwell bitcoin mining Rothbard rejoined Rand's circle for a few months, but he soon broke with Rand once more over Lew rockwell bitcoin mining differences, including his defense of anarchism.
Later, Rothbard satirized Rand's acolytes in his unpublished one-act playMozart Was a Red[47] written as a farce and the essay "The Sociology of the Ayn Rand Cult".[45](p184)[48][49] Rothbard characterized Rand's circle as a "dogmatic, personality cult". His Lew rockwell bitcoin mining parodies Rand (through the character Carson Sand) and her friends and is set during a visit from Keith Hackley, a fan of Sand's novel The Brow of Zeus (a play on Rand's most famous novel, Atlas Shrugged).[50]
Death[edit]
Rothbard died of a heart attack on January 7, 1995 at the age of 68. He was buried in Oakwood Cemetery, Unionville, Virginia.
Ethical and philosophical views[edit]
Austrian economics[edit]
Rothbard was an advocate and practitioner of the Austrian School tradition of his teacher Ludwig von Mises. Like Mises, Rothbard rejected the application of the scientific method to economics and dismissed econometrics, empirical and statistical analysis and other tools of mainstream social science as useless for the study of economics.[51] He instead embraced praxeology, the strictly A priori methodology of Mises. Praxeology conceives of economic laws as akin to geometric or mathematical axioms: fixed, unchanging, objective and discernible through logical reasoning without the use of any evidence.[51] On the account of Misesian economist Hans-Hermann Hoppe, eschewing the scientific method and empirical evidence distinguishes the Misesian approach "from all other current economic schools". Mark Skousen of Chapman University and the Foundation for Economic Education, a critic of mainstream economics,[52] praises Rothbard as brilliant, his writing style Lew rockwell bitcoin mining, his economic arguments nuanced and logically rigorous and his Misesian methodology sound.[53] However, citing Rothbard's absence of academic publications, Skousen concedes that Rothbard was effectively "outside the discipline" of mainstream economics and that his work "fell on deaf ears" outside his ideological circles. Paralleling Skousen's remarks, Hoppe laments the fact that all non-Misesian economists dismiss as "dogmatic and unscientific" the Misesian approach, which both he and Rothbard embraced.
Rothbard wrote extensively on Austrian business cycle theory and as part of this approach strongly opposed central banking, fiat money and fractional-reserve banking and advocated a gold standard and a 100% reserve requirement for banks.[19](pp89–94, 96–97)[38][54][55]
Polemics against mainstream Lew rockwell bitcoin mining authored a series of scathing polemics against modern mainstream economics. He was critical of Adam Smith, calling him a "shameless plagiarist" who set economics off-track, ultimately leading to the rise of Marxism. Instead, Rothbard praised Smith's contemporaries' works, including Richard Cantillon, Anne Robert Jacques Turgot and Étienne Bonnot de Condillac for developing the subjective theory of value. In response to Rothbard's charge that Smith's The Wealth of Nations was Lew rockwell bitcoin mining plagiarized, David D. Friedman castigated Rothbard's scholarship and character, saying that he "was [either] deliberately dishonest or never really read the book he was criticizing".[56] Tony Endres called Rothbard's treatment of Adam Smith a "travesty".[57]
Rothbard was equally scathing in his criticism of Lew rockwell bitcoin mining Maynard Keynes,[58] labeling Keynes weak on economic theory and a shallow political opportunist. Rothbard also wrote more generally that Keynesian-style governmental regulation of money and credit created a "dismal monetary and banking situation". He demeaned John Stuart Mill as a Lew rockwell bitcoin mining man of mush" and speculated that Mill's "soft" personality led his economic thought astray.[59]
Rothbard was critical of monetarist economist Milton Friedman. In a polemic entitled "Milton Friedman Unraveled", he maligned Friedman as a "statist", a "favorite of the establishment", a friend of and "apologist" for Richard Nixon and a "pernicious influence" on public policy.[60][61] Rothbard said that libertarians should scorn rather than celebrate Friedman's academic prestige and political influence. Noting that Rothbard has "been nasty to me and my work", Friedman responded to Rothbard's criticism by calling him a "cult builder and a dogmatist".[62]
In a memorial volume published by Lew rockwell bitcoin mining Mises Institute, Rothbard's protégé and libertarian theorist Hans-Hermann Hoppe wrote that the work Man, Economy, and Lew rockwell bitcoin mining "presented a blistering refutation of all variants of mathematical economics" and included it among Rothbard's "almost mind-boggling achievements". Hoppe lamented that like his own mentor Ludwig von Mises, Rothbard died without winning the Nobel Prize that Hoppe says Rothbard deserved "twice over". Although Hoppe acknowledged that Rothbard and his work were largely ignored by academia, he called Rothbard an "intellectual giant" comparable to Aristotle, John Locke, and Immanuel Kant.[63]
Reception of Rothbard's work[edit]
Although he self-identified as an Austrian economist, Rothbard's methodology was at odds with that of many other Austrians. In 1956, Rothbard deprecated the views of Austrian economist Fritz Machlup, stating that Machlup was no praxeologist and calling him instead a "positivist" who failed to represent the views of Ludwig von Mises. Rothbard stated that in fact Machlup shared the opposing positivist view associated with economist Milton Friedman.[64] Mises and Machlup had been colleagues in 1920s Vienna before each relocated to the United States and Lew rockwell bitcoin mining later urged his American protege Israel Kirzner to pursue his PhD studies with Machlup at Johns Hopkins University.[65]
According to libertarian economists Tyler Cowen and Richard Fink,[66] Rothbard wrote that the term evenly rotating economy (ERE) can be used to analyze complexity in a world of change. The words ERE had been introduced by Mises as an alternative nomenclature for the mainstream economic method of static equilibrium and general equilibrium analysis. Cowen and Fink found "serious inconsistencies in both the nature of the ERE and its suggested uses". With the sole exception of Rothbard, no other economist adopted Mises' term and the concept continued to be called "equilibrium analysis".[67]
In a 2011 article critical of Rothbard's "reflexive opposition" to inflation, The Economist noted that his views are increasingly gaining influence among politicians and laypeople on the right. The article contrasted Rothbard's categorical rejection of inflationary policies with the monetary views of "sophisticated Austrian-school monetary economists such as George Selgin and Larry White", [who] follow Hayek in treating stability Lew rockwell bitcoin mining nominal spending as a monetary ideal—a position "not all that different from Mr [Scott] Sumner's".[68]
According to economist Peter Boettke, Rothbard Lew rockwell bitcoin mining better described as a Lew rockwell bitcoin mining rights economist than as an Austrian economist. In 1988, Boettke noted that Rothbard "vehemently attacked all of the books of the younger Austrians".[69]
Ethics[edit]
Although Rothbard adopted Ludwig von Mises' deductive methodology for his social theory Lew rockwell bitcoin mining economics,[70] he parted with Mises on the question of ethics. Specifically, he rejected Mises conviction that ethical values remain subjective and opposed utilitarianism in favor of principle-based, natural law reasoning. In defense of his free market views, Mises employed utilitarian economic arguments aimed at demonstrating that interventionist policies made all of society worse off. On the other hand, Rothbard concluded that interventionist policies do in fact benefit some people, including certain government employees and beneficiaries of social programs. Therefore, unlike Mises, Rothbard argued for an objective, natural law basis for the free market.[30](pp87–89) He called this principle "self-ownership", Lew rockwell bitcoin mining basing the idea on the writings of John Locke[71] and also borrowing concepts from classical liberalism and the anti-imperialism of the Old Right.[11](p134)
Rothbard accepted the labor theory of property, but rejected the Lockean proviso, arguing that if an individual mixes his labor with unowned land then he becomes the proper owner eternally and that after that time it is private property which may change hands only by trade or gift.[72]
Rothbard was a strong critic of egalitarianism. The title essay of Rothbard's 1974 book Egalitarianism as a Revolt Against Nature and Other Essays held: "Equality is not in the natural order of things, and the crusade to make everyone equal in every respect (except before the law) is certain to have disastrous consequences".[73] In it, Rothbard wrote: "At the heart of the egalitarian left is the pathological belief that there is no structure of reality; that all the world is a tabula rasa that can be changed at any moment in any desired direction by the mere exercise of human Lew rockwell bitcoin mining Chomsky critiqued Rothbard's ideal society as "a world so full of hate that no human being would want to live in it . First of all, it couldn't function for a second—and if it could, all you'd want to do is get out, or commit suicide or Lew rockwell bitcoin mining src="https://upload. wikimedia. org/wikipedia/commons/thumb/7/72/Murray_Rothbard. jpg/170px-Murray_Rothbard. jpg">Rothbard in the mid-1950s
Rothbard with his wife Joey
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Now that you already know about the best Bitcoin Lew rockwell bitcoin mining hardware, we’re going to talk about Bitcoin mining software.
What is Bitcoin Mining Software?
Bitcoin mining hardware handles the actual Bitcoin mining process, but:
Bitcoin mining software is equally as important.
- If you are a solo miner: the mining software connects your Bitcoin miner to the blockchain.If you mine with a pool: the software will connect you to your mining pool.If you are cloud mining: you do not need mining software.
Importance of Bitcoin Mining Software
The main job of Lew rockwell bitcoin mining software is to deliver the mining hardware’s work to the rest Lew rockwell bitcoin mining the Bitcoin network and to receive the completed work from other miners on the network.
Bitcoin mining software monitors this input and output of your miner while also displaying statistics such as the speed of your miner, hashrate, fan speed and the temperature.
Bitcoin Wallets
One of the most important things you will need before using any kind of Bitcoin mining software is a wallet.
Why?
This is because all Bitcoin mining software will ask you for a Bitcoin address that will be used to send your mining rewards and payouts. Once you create or download a wallet you will be able to get a Bitcoin address from your wallet.
There are many Bitcoin wallets, but these are the ones we recommend if you are just starting out:
Now that we understand mining software and how it helps in the mining process, and you got your Bitcoin wallet and address, let’s look at different software Lew rockwell bitcoin mining different operating systems.
VPNs for Mining
As a Bitcoin miner, you may also want to look into getting a VPN.
You can never have enough security when it comes to bitcoin. Using a VPN adds an extra layer of security.
Learn About VPNs
Bitcoin Mining Software for Linux
Hashr8
Hashr8 is a new mining software company. It’s mining software made by miners, for miners.
To combat the inefficiencies of other mining systems, Hashr8 constantly monitors the performance of your rig and automatically restarts it when there’s an error.
It also comes with a handy mobile app that notifies you of any changes and allows you to control your mining system remotely when you’re on the go.
Learn About Hashr8
Hive OS
Hive OS is a dashboard which allows miners to monitor and control all of their ASICs and GPUs from one centralized location.
Hive OS supports Bitcoin, Ethereum, Bcash, Monero and many other coins.
Lew rockwell bitcoin mining About Hive OS
Bitcoin Mining Software for Windows
Hive OS
Hive OS is a dashboard which allows miners to monitor and control all of their ASICs and GPUs from one centralized location.
Hive OS supports Bitcoin, Ethereum, Bcash, Monero and many other coins.
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Bitcoin Mining Software for Mac OS X
Hive OS
Hive OS is a dashboard which allows miners to monitor and control all of their ASICs and GPUs from one centralized location.
Hive OS supports Bitcoin, Ethereum, Bcash, Monero and many other coins.
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Be aware Lew rockwell bitcoin mining a lot of mining software may try to steal your bitcoins. Be sure to read reviews on Lew rockwell bitcoin mining software you download.
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State of Mining Software - What Updates are Coming?
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Cash Out your Coins
Once you have this setup and are mining, you may need to cash out some of your coins in order to pay off your expenses such as electricity.
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