Anatomy Of Money And The State

 Then I read "The Anatomy of the State." In that book, Rothbard starts with first principles, such as the two ways that wealth is accumulated-basically through either labor or theft-and builds up a comprehensive theory describing the nature of the modern nation-state-essentially an upsized, more bureaucratic version of the political structures and oppressive tactics that thieving local warlords favor.

Following Franz Oppenheimer and Albert Jay Nock, Rothbard regards the state as a predatory entity.

Then along comes Rothbard in this book about money and the State, which is really just a 134-page, easily read pamphlet.

Rothbard was the first to prove that the government, and only the government, can destroy money on a mass scale, and he showed exactly how they go about this dirty deed.

Rothbard shows precisely how banks create money out of thin air and how the central bank, backed by government power, allows them to get away with it.

Rothbard repeatedly teaches that bad money drives out good money and explains why.

Rothbard's fundamental skepticism of the state's nature and belief in truly free market economics are at the center of his argument in favor of money based on a tangible, divisible commodity rather than ephemeral fiat currency. 

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