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" The State has invariably shown a striking talent for the expansion of its powers beyond any limits that might be imposed upon it. "

Murray Rothbard

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" In order to conquer the world of economics with his new theory, it was critical for Keynes to destroy his rivals within Cambridge itself. In his mind, he who controlled Cambridge controlled the world. "

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" Lacking the direct test of success or failure, the voter tends to turn, not to those politicians whose measures have the best chance of success, but to those with the ability to 'sell' their propaganda. Without grasping logical chains of deduction, the average voter will never be able to discover the error that the ruler makes. "

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" Only individuals can desire and act. The existence of an institution such as government becomes meaningful only through influencing the actions of those individuals who are and those who are not considered as members. "

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" We have gotten to the point where everything the government does is counterproductive; the conclusion, of course, is that the government should do nothing at all, that is, should retire quickly from the monetary and economic scene and allow freedom and free markets to work. "

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" Subjectivism is not an absolute principle; it is a necessary but not sufficient condition for sound methodology. "

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" It should be clear that modern fractional reserve banking is a shell game, a Ponzi scheme, a fraud in which fake warehouse receipts are issued and circulate as equivalent to the cash supposedly represented by those receipts. "

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" The 'boom-bust' cycle is generated by monetary intervention in the market, specifically bank credit expansion to business. "

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" The major reason for Keynes's rejection of communism was simply that he could scarcely identify with the grubby proletariat. "

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" The politician and the government expert receive their revenues, not from service voluntarily purchased on the market, but from a compulsory levy on the populace. These officials, therefore, wholly lack the pecuniary incentive to care about serving the public properly and competently. "

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" By the 1890s, the leading Wall Street bankers were becoming increasingly disgruntled with their own creation, the National Banking System... while the banking system was partially centralized under their leadership, it was not centralized enough. "

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" The great fact of individual difference and variability (that is, inequality) is evident from the long record of human experience: hence, the general recognition of the antihuman nature of a world of coerced uniformity. "

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" It is human nature that when you see something work well, you do more of it. If, in its ceaseless quest for revenue, government sees a seemingly harmless method of raising funds without causing much inflation, it will grab on to it. "

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" The State thrives on war - unless, of course, it is defeated and crushed - expands on it, glories in it. "

Murray Rothbard

" Positivism eliminates any kind of natural law principle - for example, that there are economic laws which can be transgressed only at your peril. With positivism, there is a tendency to leap into ad hoc economic theory. "

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" Tied up with his dismissal of natural law is Hayek's continuous, and all-pervasive, attack on reason. Reason is his bete noire, and time and time again, from numerous and even contradictory standpoints, he opposes it. "

Murray Rothbard

" As 'Austrian' business cycle theory has pointed out, any bank credit inflation sets up conditions for boom-and-bust; there is no need for prices actually to rise. "

Murray Rothbard

" Philosophically, I believe that libertarianism - and the wider creed of sound individualism of which libertarianism is a part - must rest on absolutism and deny relativism. "

Murray Rothbard

" Since the State necessarily lives by the compulsory confiscation of private capital, and since its expansion necessarily involves ever-greater incursions on private individuals and private enterprise, we must assert that the State is profoundly and inherently anticapitalist. "

Murray Rothbard

" The State lives by its very existence on the two-fold and pervasive employment of aggressive violence against the very liberty and property of individuals that it is supposed to be defending. "

Murray Rothbard

" 'The General Theory' was not truly revolutionary at all but merely old and oft-refuted mercantilist and inflationist fallacies dressed up in shiny new garb, replete with newly constructed and largely incomprehensible jargon. "

Murray Rothbard

" Ultimately, there is no entity called 'government'; there are only people forming themselves into groups called 'governments' and acting in a 'governmental' manner. "

Murray Rothbard

" An attempt by the Mongols to introduce paper money in Persia in the twelfth and thirteenth centuries flopped because no one would accept it. The public had no confidence in the paper money despite the awesomely coercive decrees that always marked Mongol rule. "

Murray Rothbard

" It is important to realize that gold and silver are international commodities and that, therefore, when not prohibited by government decree, foreign coins are perfectly capable of serving as standard moneys. "

Murray Rothbard

" The avoidance of explicit ethical judgments leads political scientists to one overriding implicit value judgment - that in favor of the political status quo as it happens to prevail in any given society. "

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" Savings and investment are indissolubly linked. It is impossible to encourage one and discourage the other. "

Murray Rothbard

" Commercial banks - that is, fractional reserve banks - create money out of thin air. Essentially, they do it in the same way as counterfeiters. "

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" If taxes and government spending are both slashed, then the salutary result will be to lower the parasitic burden of government taxes and spending upon the productive activities of the private sector. "

Murray Rothbard

" The majority is not society, is not everyone. Majority coercion over the minority is still coercion. "

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" Keynes eliminated economic theory's ancient role as spoilsport for inflationist and statist schemes, leading a new generation of economists on to academic power and to political pelf and privilege. "

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" In the market, the fittest are those most able to serve the consumers; in government, the fittest are those most adept at wielding coercion and/or those most adroit at making demagogic appeals to the voting public. "

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