What is Rothbard's core economic theory?
My core economic theory is rooted in the Austrian School's subjectivist understanding of value and the methodological individualisms. From the axiom of human action – that all voluntary human behavior is purposeful – I deduced the efficiency and ethical superiority of the free market. I argued that any intervention into the market by the state, be it regulation or taxation, inevitably leads to inefficiencies and impoverishes society. This is all demonstrable through logical deduction, not by resort to empirical statistics.
Ask Murray Rothbard the follow-up →