Murray Rothbard :
"It is no crime to be ignorant of economics, which is, after all, a specialized discipline and one that most people consider to be a 'dismal science.' But it is totally irresponsible to have a loud and vociferous opinion on economic subjects while remaining in this state of ignorance."
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Cinema
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Science and Scientists
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Opinions
Gift it
![Powerpoint](http://www.iwise.com/downloadPPT.php?quote_id=106993&author=Murray Rothbard"e=%22It+is+no+crime+to+be+ignorant+of+economics%2C+which+is%2C+after+all%2C+a+specialized+discipline+and+one+that+most+people+consider+to+be+a+%27dismal+science.%27+But+it+is+totally+irresponsible+to+have+a+loud+and+vociferous+opinion+on+economic+subjects+while+remaining+in+this+state+of+ignorance.%22%0A&image=http%3A%2F%2Fwww.iwise.com%2FauthorIcons%2F14954%2FMurray_Rothbard_64x64.png){kind=link}
![Powerpoint](http://www.iwise.com/downloadPPT.php?quote_id=106994&author=Murray Rothbard"e=%22Money+is+different+from+all+other+commodities%3A+other+things+being+equal%2C+more+shoes%2C+or+more+discoveries+of+oil+or+copper+benefit+society%2C+since+they+help+alleviate+natural+scarcity.+But+once+a+commodity+is+established+as+a+money+on+the+market%2C+no+more+money+at+all+is+needed.+Since+the+only+use+of+money+is+for+exchange+and+reckoning%2C+more+dollars+or+pounds+or+marks+in+circulation+cannot+confer+a+social+benefit%3A+they+will+simply+dilute+the+exchange+value+of+every+existing+dollar+or+pound+or+mark.+So+it+is+a+great+boon+that+gold+or+silver+are+scarce+and+are+costly+to+increase+in+supply.%0A%22But+if+government+manages+to+establish+paper+tickets+or+bank+credit+as+money%2C+as+equivalent+to+gold+grams+or+ounces%2C+then+the+government%2C+as+dominant+money-supplier%2C+becomes+free+to+create+money+costlessly+and+at+will.+As+a+result%2C+this+%27inflation%27+of+the+money+supply+destroys+the+value+of+the+dollar+or+pound%2C+drives+up+prices%2C+cripples+economic+calculation%2C+and+hobbles+and+seriously+damages+the+workings+of+the+market+economy.%22%0A&image=http%3A%2F%2Fwww.iwise.com%2FauthorIcons%2F14954%2FMurray_Rothbard_64x64.png){kind=link}
![Powerpoint](http://www.iwise.com/downloadPPT.php?quote_id=106992&author=Murray Rothbard"e=%22The+more+consistently+Austrian+an+economist+is%2C+the+better+a+writer+he+will+be.%22&image=http%3A%2F%2Fwww.iwise.com%2FauthorIcons%2F14954%2FMurray_Rothbard_64x64.png){kind=link}
![Powerpoint](http://www.iwise.com/downloadPPT.php?quote_id=106995&author=Murray Rothbard"e=%22Rights+may+be+universal%2C+but+their+enforcement+must+be+local.%22%0A&image=http%3A%2F%2Fwww.iwise.com%2FauthorIcons%2F14954%2FMurray_Rothbard_64x64.png){kind=link}
![Powerpoint](http://www.iwise.com/downloadPPT.php?quote_id=106996&author=Murray Rothbard"e=%22All+government+wars+are+unjust.%22&image=http%3A%2F%2Fwww.iwise.com%2FauthorIcons%2F14954%2FMurray_Rothbard_64x64.png){kind=link}
![Powerpoint](http://www.iwise.com/downloadPPT.php?quote_id=106997&author=Murray Rothbard"e=%22I+define+anarchist+society+as+one+where+there+is+no+legal+possibility+for+coercive+aggression+against+the+person+or+property+of+any+individual.%22%0A&image=http%3A%2F%2Fwww.iwise.com%2FauthorIcons%2F14954%2FMurray_Rothbard_64x64.png){kind=link}
![Powerpoint](http://www.iwise.com/downloadPPT.php?quote_id=106998&author=Murray Rothbard"e=%22The+problem+is+that+he+originated+nothing+that+was+true%2C+and+that+whatever+he+originated+was+wrong+...%22%0A&image=http%3A%2F%2Fwww.iwise.com%2FauthorIcons%2F14954%2FMurray_Rothbard_64x64.png){kind=link}
![Powerpoint](http://www.iwise.com/downloadPPT.php?quote_id=106999&author=Murray Rothbard"e=%22John+Stuart+was+the+quintessence+of+soft+rather+than+hardcore%2C+a+woolly+minded+man+of+mush+in+striking+contrast+to+his+steel-edged+father.%22%0A&image=http%3A%2F%2Fwww.iwise.com%2FauthorIcons%2F14954%2FMurray_Rothbard_64x64.png){kind=link}
![Powerpoint](http://www.iwise.com/downloadPPT.php?quote_id=107000&author=Murray Rothbard"e=%22...+shameless+sponging+on+friends+and+relatives+...+Marx+affected+a+hatred+and+contempt+for+the+very+material+resource+he+was+too+anxious+to+cadge+and+use+so+recklessly.+Marx+created+an+entire+philosophy+around+his+own+corrupt+attitudes+toward+money.%22%0A&image=http%3A%2F%2Fwww.iwise.com%2FauthorIcons%2F14954%2FMurray_Rothbard_64x64.png){kind=link}