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.

  1. Jean-Baptiste Say

    A French classical, liberal economist and scholar. Jean-Baptiste ...
  2. Classical Economics

    Classical economics refers to work done by a group of economists ...
  3. Market Economy

    An economic system in which economic decisions and the pricing ...
  4. Free Market

    A market economy based on supply and demand with little or no ...
  5. Laissez Faire

    An economic theory from the 18th century that is strongly opposed ...
  6. Free Enterprise

    An economic system where few restrictions are placed on business ...
Related Articles
  1. Economics

    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. Economics

    The Uncertainty Of Economics: Exploring The Dismal Science

    Learning about the study of economics can help you understand why you face contradictions in the market.
  3. Options & Futures

    Explaining The World Through Macroeconomic Analysis

    From unemployment and inflation to government policy, learn what macroeconomics measures and how it affects everyone.
  4. Fundamental Analysis

    Calculating the Q Ratio

    The Q ratio measures the market value of a company compared to the replacement value of the firm’s assets.
  5. Entrepreneurship

    Elon Musk Success Story: Net Worth, Education & Top Quotes

    Read more about Elon Musk, the South African immigrant turned technology and engineering entrepreneur and inventor worth $13.6 billion.
  6. Entrepreneurship

    Mark Cuban Success Story: Net Worth, Education & Top Quotes

    Learn more about America's favorite billionaire: Mark Cuban, outspoken owner of the Dallas Mavericks and star of the hit show "Shark Tank."
  7. Entrepreneurship

    Janet Yellen Success Story: Net Worth, Education & Top Quotes

    Look into the life and academic career of Janet Yellen, the first female chair of the Federal Reserve and a noted Keynesian economist.
  8. Entrepreneurship

    3 Entrepreneurs Who Became Successful After 40

    Read about four influential entrepreneurs who didn't achieve fame and success until after their 40th birthdays, including the founder of Walmart.
  9. Investing Basics

    A Quick Guide On Behavioral Funds

    Investopedia explores the working of behavioral funds, their benefits and risks, and an analysis of their past returns.
  10. Entrepreneurship

    Adam Smith And "The Wealth Of Nations"

    Adam Smith's 1776 classic may have had the largest global impact on economic thought.
  1. What role did the Great Depression play in developing America's bank reserve policies?

    The Great Depression had substantial impacts on the nature of banking regulations and fractional reserve requirements in ... Read Full Answer >>
  2. Why is the multiplier effect associated with Keynesian economics?

    The multiplier effect is one of the chief components of Keynesian economic models. According to Keynes theory of fiscal stimulus, ... Read Full Answer >>
  3. According to the neoclassical growth theory, what factors influence the growth of ...

    The neoclassical growth theory builds five major variables into its time-sensitive production formula. The first is total ... Read Full Answer >>
  4. What industries are typically considered infant industries?

    Infant industries are those considered vulnerable to established competitors. Some examples of infant industries include ... Read Full Answer >>
  5. How is game theory related to the Nash equilibrium?

    The Nash equilibrium is an important concept in game theory referring to a stable state in a game where no player can gain ... Read Full Answer >>
  6. How can individuals or businesses handle transaction costs for economic externalities?

    Externalities, also known as external economies, and transaction costs are two significant and evolving issues in contemporary ... Read Full Answer >>

You May Also Like

Hot Definitions
  1. Capitalization Rate

    The rate of return on a real estate investment property based on the income that the property is expected to generate.
  2. Gross Profit

    A company's total revenue (equivalent to total sales) minus the cost of goods sold. Gross profit is the profit a company ...
  3. Revenue

    The amount of money that a company actually receives during a specific period, including discounts and deductions for returned ...
  4. Normal Profit

    An economic condition occurring when the difference between a firm’s total revenue and total cost is equal to zero.
  5. Operating Cost

    Expenses associated with the maintenance and administration of a business on a day-to-day basis.
  6. Cost Of Funds

    The interest rate paid by financial institutions for the funds that they deploy in their business. The cost of funds is one ...
Trading Center
You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!