Murray N. Rothbard

DEFINITION of 'Murray N. Rothbard'

A natural-law libertarian and ardent proponent of Austrian economics, Rothbard was and remains a controversial figure for his belief that the free market should provide even those services that are considered traditional functions of a limited government. He opposed taxation, considering it a form of slavery; espoused self-ownership; and supported the idea of an anarcho-capitalist system that would end the government monopoly on force.

BREAKING DOWN 'Murray N. Rothbard'

Born in New York in 1926, he earned a Ph.D. in economics from Columbia University. In his formative years he was influenced by Ludwig von Mises.

RELATED TERMS
  1. Ludwig von Mises

    One of the most influential Austrian economists of all time. ...
  2. Anarcho-Capitalism

    A term coined by Austrian-school economist Murray Rothbard to ...
  3. Israel Kirzner

    A preeminent Austrian economist and professor emeritus of economics ...
  4. Austrian School

    An economic school of thought that originated in Vienna during ...
  5. Jeffrey Sachs

    An American economist who is director of the Earth Institute. ...
  6. Joseph Schumpeter

    One of the 20th century's great economic and political thinkers. ...
Related Articles
  1. Markets

    The Austrian School Of Economics

    Investopedia explains: If you think economists are only concerned with numbers, check out the Austrian School, who are more like economic philosophers.
  2. Markets

    Could This Be the First Viable Third-Party Run?

    A March poll gave Libertarian Gary Johnson 11% in a three-way contest with Trump and Clinton. What does he stand for, and does he have a chance this fall?
  3. Markets

    Charles Koch: Net Worth

    As of August 2015, Charles Koch’s personal fortune amounted to $41.5 Billion, according to Forbes. That makes him the richest man in Kansas. And it makes him the sixth-richest person in ...
  4. Markets

    Explaining Limited Government

    Limited government is a political viewpoint that favors few, if any, government controls on individuals and the economy.
  5. Markets

    How Influential Economists Changed Our History

    Find out how these five groundbreaking thinkers laid our financial foundations.
  6. Markets

    How & Why Companies Become Monopolies

    Without competition, monopolies can raise prices and lower quality leaving consumers little choice. But monopolies can benefit consumers as well.
  7. Investing

    Warren Buffett Biography

    Warren Buffett is one of the top investors in the world. Learn more about his amazing life and path to success.
  8. Financial Advisor

    A Day In The Life Of An Economist

    We've interviewed three economists with very different job descriptions to give you an idea of the many possibilities this career choice offers.
  9. Investing

    Warren Buffett: His Life and Education

    Warren Edward Buffett was born on August 30, 1930 in Omaha, Nebraska, to Howard, a stockbroker and later Congressman, and Leila (Stahl) Buffett. As a child, Warren showed an interest in stocks ...
  10. Retirement

    Thomas Rowe Price: Always Right

    This great investor mastered a new type of investing with every new market he faced.
RELATED FAQS
  1. What is the Austrian Theory of the Business Cycle?

    Read about the Austrian business cycle theory, which claims that government interventions in the credit market lead to asset ... Read Answer >>
  2. What economic measures can be taken to encourage free enterprise?

    Learn about the types of economic policies that support free market capitalism, as espoused by thinkers in the classical ... Read Answer >>
  3. What role did the Great Depression play in developing America's bank reserve policies?

    Learn about the changes to the Federal Reserve system and bank reserve laws in the United States in the aftermath of the ... Read Answer >>
  4. How do different economic schools of thought treat the factors of production?

    Read about how different schools of economic thought treat the factors of production, both in terms of ownership and macroeconomic ... Read Answer >>
  5. To what extent can a government intervene in a market economy?

    Find out at what point a market economy receives so much government intervention that it can no longer be considered a market ... Read Answer >>
  6. Why is free enterprise often associated with being politically conservative?

    Find out how conservatives and free market libertarians formed unlikely political alliances in the United States in response ... Read Answer >>
Hot Definitions
  1. Glass-Steagall Act

    An act the U.S. Congress passed in 1933 as the Banking Act, which prohibited commercial banks from participating in the investment ...
  2. Quantitative Trading

    Trading strategies based on quantitative analysis which rely on mathematical computations and number crunching to identify ...
  3. Bond Ladder

    A portfolio of fixed-income securities in which each security has a significantly different maturity date. The purpose of ...
  4. Duration

    A measure of the sensitivity of the price (the value of principal) of a fixed-income investment to a change in interest rates. ...
  5. Dove

    An economic policy advisor who promotes monetary policies that involve the maintenance of low interest rates, believing that ...
  6. Cyclical Stock

    An equity security whose price is affected by ups and downs in the overall economy. Cyclical stocks typically relate to companies ...
Trading Center