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Man, Economy, And State: A Treatise On Economic Principles
A pillar of the Austrian School Library and the last full-blown treatise on economics. If Mises's Human Action was the culmination of the School from Menger's time, Rothbard's treatise takes Austrian thought even further in the areas of utility and welfare economics, antitrust, labor, taxation, public goods, and social insurance schemes. Inconsistencies are ironed out and the system of thought, in all its logical rigor, is unbroken. More than any book, Man, Economy, and State taught economics to the post-Mises generation. It refutes still-common errors among the mainstream and grapples with the post-war Keynesian literature point by point. The impact of this work was also enhanced by its breathtaking logic and clarity, even in the most difficult subject areas. Special insights along the way include a full critique of government statistics and the Fed's definitions of the money supply. Nearly twenty-five years after it first appeared in print, it remains the standard bearer for the Austrian School.
987 pages, Paperback
First published January 1, 1962
70 people are currently reading
2316 people want to read
About the author
Murray N. Rothbard
282 books1,114 followersMurray Newton Rothbard was an influential American historian, natural law theorist and economist of the Austrian School who helped define modern libertarianism. Rothbard took the Austrian School's emphasis on spontaneous order and condemnation of central planning to an individualist anarchist conclusion, which he termed "anarcho-capitalism".
In the 1970s, he assisted Charles Koch and Ed Crane to found the Cato Institute as libertarian think tank.
In the 1970s, he assisted Charles Koch and Ed Crane to found the Cato Institute as libertarian think tank.
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Displaying 1 - 25 of 25 reviews
December 10, 2020
Rothbard was a genius and this was Rothbard at the top of his game. To think he wrote this massive treatise while still in his 30's is just surreal!
Of course, the book is not without its flaws. I personally do not agree with some of his views. But even if you don't agree with all he says or even get a bit annoyed by some of his approaches, still you will notice something precious in this book: Rothbard's relentless passion for economic analysis and the way he olds no punches no matter if it's a friend or a foe. This book is a treasure of new perspectives that makes you aware of countless new ways and arguments for and against standard economic topics. Rothbard's focus on sharp logical analysis and commitment to a search for the truth, no matter whose feelings get hurt, will be of use precisely in those cases where you don't agree with him. I think that is the ultimate test for the readers of this book: if you really embrace Rothbard's critical spirit, then you will also have to be strong enough to criticize even the author's views. I'm sure that's what would make Rothbard most proud of his readers, because he himself did not abstain from criticizing his beloved teachers.
So, even though this book is almost 60 years old, I urge every student of economics to read it carefully. It is a source of countless teachings and countless new ways to challenge your own views on the discipline, as opposed to the standard flat-toned textbooks.
As Mises himself wrote in his review of this book:
"But disagreement with his opinions concerning these matters cannot prevent me from qualifying Rothbard's work as an epochal contribution to the general science of human action, praxeology, and its practically most important and up-to-now best elaborated part, economics. Henceforth all essential studies in these branches of knowledge will have to take full account of the theories and criticisms expounded by Dr. Rothbard."
Finally, contrary to Mises, who unfortunately was not very fond of providing extensive bibliographical references - I wish he did -, Rothbard is very fond of using footnotes and providing countless references, which will show you how much he was into the current discussions of his time. Amazing stuff. In the end, I guess Mises's Human Action is more adequate for the interested and educated layperson or the general student of social sciences (which does not mean it is an easy book, at all!), while Rothbard's book is definitely more of a gem for the student of economic theory and applications.
Bonus content:
In case you are curious about what I don't agree with in this book, I'll just mention (for example) that :
1) I don't think Rothbard his right in his description and criticism of banking practices;
2) I think he is too simplistic in his analysis of government intervention. Although he mentions several times throughout the text that economics and this book in particular are "wertfrei", or free from value judgements, he then seems to take it as his responsibility to show that government activities are never justified, as if that was the true goal of economics, instead of discussing in a more careful way the problems of collective action and governance, like for example the Ostroms did; and also
3) Rothbard is too prone to take things too much into the strict logical categorization and then, once having provided a justification for why some concepts seem logically or philosophically incoherent, he just tosses them aside, instead of analyzing whether they nonetheless may have some practical significance and utility for the economist. So in a sense it is as if, in my opinion, he does not try sufficiently hard to make the best case for the views he is criticizing, instead trying to get rid of them by a priori logical dissection.
Bonus 2: if you want to see the power of Rothbard's critiques, see his devastating review chapter of Galbraith's The Affluent Society and his hilarious exposition of the Keynesian multiplier.
Of course, the book is not without its flaws. I personally do not agree with some of his views. But even if you don't agree with all he says or even get a bit annoyed by some of his approaches, still you will notice something precious in this book: Rothbard's relentless passion for economic analysis and the way he olds no punches no matter if it's a friend or a foe. This book is a treasure of new perspectives that makes you aware of countless new ways and arguments for and against standard economic topics. Rothbard's focus on sharp logical analysis and commitment to a search for the truth, no matter whose feelings get hurt, will be of use precisely in those cases where you don't agree with him. I think that is the ultimate test for the readers of this book: if you really embrace Rothbard's critical spirit, then you will also have to be strong enough to criticize even the author's views. I'm sure that's what would make Rothbard most proud of his readers, because he himself did not abstain from criticizing his beloved teachers.
So, even though this book is almost 60 years old, I urge every student of economics to read it carefully. It is a source of countless teachings and countless new ways to challenge your own views on the discipline, as opposed to the standard flat-toned textbooks.
As Mises himself wrote in his review of this book:
"But disagreement with his opinions concerning these matters cannot prevent me from qualifying Rothbard's work as an epochal contribution to the general science of human action, praxeology, and its practically most important and up-to-now best elaborated part, economics. Henceforth all essential studies in these branches of knowledge will have to take full account of the theories and criticisms expounded by Dr. Rothbard."
Finally, contrary to Mises, who unfortunately was not very fond of providing extensive bibliographical references - I wish he did -, Rothbard is very fond of using footnotes and providing countless references, which will show you how much he was into the current discussions of his time. Amazing stuff. In the end, I guess Mises's Human Action is more adequate for the interested and educated layperson or the general student of social sciences (which does not mean it is an easy book, at all!), while Rothbard's book is definitely more of a gem for the student of economic theory and applications.
Bonus content:
In case you are curious about what I don't agree with in this book, I'll just mention (for example) that :
1) I don't think Rothbard his right in his description and criticism of banking practices;
2) I think he is too simplistic in his analysis of government intervention. Although he mentions several times throughout the text that economics and this book in particular are "wertfrei", or free from value judgements, he then seems to take it as his responsibility to show that government activities are never justified, as if that was the true goal of economics, instead of discussing in a more careful way the problems of collective action and governance, like for example the Ostroms did; and also
3) Rothbard is too prone to take things too much into the strict logical categorization and then, once having provided a justification for why some concepts seem logically or philosophically incoherent, he just tosses them aside, instead of analyzing whether they nonetheless may have some practical significance and utility for the economist. So in a sense it is as if, in my opinion, he does not try sufficiently hard to make the best case for the views he is criticizing, instead trying to get rid of them by a priori logical dissection.
Bonus 2: if you want to see the power of Rothbard's critiques, see his devastating review chapter of Galbraith's The Affluent Society and his hilarious exposition of the Keynesian multiplier.
March 4, 2021
2021-03-03 I read this book during the late spring and early summer of 1980. I remember that, since I was prompted to read the book because it was on the required preparation reading list for the Austrian Economics summer seminar put on by the Inst. for Humane Studies that I had been admitted to. It was an excellent follow-up to reading Human Action by Mises which I had done just a year or two previously.
Rothbard did an excellent job of filing in what he called the interstices (gaps) in what he saw in Human Action. Human Action is a big book (about 800 pages), but this book is even bigger. Individually and together they are just incredible. I probably got more out of Human Action, but there are some great parts of Man Economy and State that dealt with issues Mises did not &/or in a way the was clearer than Mises.
I remember not agreeing with all of Rothbard's analysis, but generally I was very happy with it.
Highly recommended for anyone serious about economics and the role of the government in the economy.
Rothbard did an excellent job of filing in what he called the interstices (gaps) in what he saw in Human Action. Human Action is a big book (about 800 pages), but this book is even bigger. Individually and together they are just incredible. I probably got more out of Human Action, but there are some great parts of Man Economy and State that dealt with issues Mises did not &/or in a way the was clearer than Mises.
I remember not agreeing with all of Rothbard's analysis, but generally I was very happy with it.
Highly recommended for anyone serious about economics and the role of the government in the economy.
June 12, 2012
Man, Economy, and State epitomizes and depicts the true essence of the Austrian School of Economics. Murray Rothbard successfully accumulates comprehensively through and through the key fundamentals in the methodological individualist approach to economics established by the study of praxeology. Praxeology is the study of human action, so it symbolizes the act of purposeful behavior. In physics, mathematics establishes critical components of unmotivated behavior of inanimate entities whereas in economics, mathematics is simply unable to illustrate motivated behavior of human beings. All praxeological laws are qualitative and not quantitative. Human action contains no quantitative constants, so it is impossible to formulate realistic and tangible quantitative data of human action. Three essential concepts of the Austrian School are marginal utility, time preference and non-neutrality of money.
Marginal utility is the subjective view that units of goods are ranked on individual value scales where each unit of a good is valued separately. Goods are valued to an end by the amount of the good with equal serviceability. As an actor acquires more units of a good, he devotes less urgent ends and lowers the good on his scale of values. As the supply of the good increases, the marginal utility of the good decreases and vice versa.
Time preference is individuals rank prospective and currently held future goods to value scales. Presumably, human action suggests that people want things sooner rather than later, for goods further into the future are less preferred, so future goods are always discounted. Therefore, time preference is the extent to which people value current consumption over future consumption. Moreover, if current consumption exceeds savings and investment, then future consumption will be reduced because of the lack in savings. Consumption from the past must have restraint, so others can be sustained on current structure and create new structure in the future. The Austrian Business Cycle Theory postulates that credit expansion distorts time preference. The illusionary effect tricks businessmen into thinking that more means exist for current production, but new structure of production isn’t a reflection of consumer time preferences, so capital savings is consumed and not invested properly, which is malinvestment.
The existence of money is non-neutral; otherwise, money doesn’t really exist. We might as well presume that it just falls from trees or helicopters. When the supply of money is inflated, it has real consequences on present and future production and consumption. Economic calculation is distorted along with shifts in time preference. When new money is injected into the economy not by means of free markets, it systematically benefits those whom spend the new money first at the expense who spend the new money last. By the time those who receive the new money last, the new money is already creating new demand on current goods and services; therefore, prices are rising. Since money is a commodity akin to all other goods and services, the only difference is that money is merely represented as a medium of exchange. The price of money is subject to the interaction of supply and demand and marginal utility. Thus, as the stock of money increases, the marginal utility decreases and vice versa. Purchasing Power of Money is the subject to marginal utility of money, which means people voluntarily trade real goods and services in exchange for units of money because they value money more than the good. Therefore, the purchasing power of money is the price of money based on exchange ratios.
Aside from Ludwig von Mises’s Human Action, this book ranks among the greatest nonfiction literature concerning economics. Rothbard translates complex economic jargon into understandable concepts. If economics and the Austrian School even remotely spark interest, then this book must be read because it will literally change your views of economics. Literally, it changed mine.
Marginal utility is the subjective view that units of goods are ranked on individual value scales where each unit of a good is valued separately. Goods are valued to an end by the amount of the good with equal serviceability. As an actor acquires more units of a good, he devotes less urgent ends and lowers the good on his scale of values. As the supply of the good increases, the marginal utility of the good decreases and vice versa.
Time preference is individuals rank prospective and currently held future goods to value scales. Presumably, human action suggests that people want things sooner rather than later, for goods further into the future are less preferred, so future goods are always discounted. Therefore, time preference is the extent to which people value current consumption over future consumption. Moreover, if current consumption exceeds savings and investment, then future consumption will be reduced because of the lack in savings. Consumption from the past must have restraint, so others can be sustained on current structure and create new structure in the future. The Austrian Business Cycle Theory postulates that credit expansion distorts time preference. The illusionary effect tricks businessmen into thinking that more means exist for current production, but new structure of production isn’t a reflection of consumer time preferences, so capital savings is consumed and not invested properly, which is malinvestment.
The existence of money is non-neutral; otherwise, money doesn’t really exist. We might as well presume that it just falls from trees or helicopters. When the supply of money is inflated, it has real consequences on present and future production and consumption. Economic calculation is distorted along with shifts in time preference. When new money is injected into the economy not by means of free markets, it systematically benefits those whom spend the new money first at the expense who spend the new money last. By the time those who receive the new money last, the new money is already creating new demand on current goods and services; therefore, prices are rising. Since money is a commodity akin to all other goods and services, the only difference is that money is merely represented as a medium of exchange. The price of money is subject to the interaction of supply and demand and marginal utility. Thus, as the stock of money increases, the marginal utility decreases and vice versa. Purchasing Power of Money is the subject to marginal utility of money, which means people voluntarily trade real goods and services in exchange for units of money because they value money more than the good. Therefore, the purchasing power of money is the price of money based on exchange ratios.
Aside from Ludwig von Mises’s Human Action, this book ranks among the greatest nonfiction literature concerning economics. Rothbard translates complex economic jargon into understandable concepts. If economics and the Austrian School even remotely spark interest, then this book must be read because it will literally change your views of economics. Literally, it changed mine.
August 9, 2013
The only book that tops this one is Human Action by Mises himself. The book is not for the faint of heart or the faint of mind and determination because you will need all three to get through this book. However, if you do, you will have increased your knowledge of the world beyond belief! Not just in economics, but in almost every avenue of life. Like I said, the only thing that beats this book from Rothbard is Human Action.
February 9, 2016
This is by far the best book on economic principles that I've read. I cannot recommend this enough.
July 14, 2016
Se puede decir que este libro contiene una revisión de lo desarrollado por Mises en La Acción Humana llevándolo a sus consecuencias más lógicas además de contener de todo un poco (aunque bien desarrollado) temas que trata en futuros libros y otros autores, es defenitivamente un compendio de todo el desarrollo de la escuela austríaca de economía, abarcando temas de funcionamiento de los procesos de producción en el mercado, la utilidad marginal, la oferta y la demanda, la función del dinero y luego una sección extensa dedicada al estudio de la intervención de agentes coercitivos en el mercado.
Varios de los temas ya los conocía por haberlo leído en otros libros de distintos economistas y otros los había deducido por cuenta propia pero es bueno leer este libro para organizar las ideas que en muchos casos pueden prestarse para confusión o mala difusión de las mismas.
Varios de los temas ya los conocía por haberlo leído en otros libros de distintos economistas y otros los había deducido por cuenta propia pero es bueno leer este libro para organizar las ideas que en muchos casos pueden prestarse para confusión o mala difusión de las mismas.
August 9, 2020
Excellent book. The chapter dedicated to the analysis of the Monopoly it's amazing. This book changed my mind on different subjects. Please read this book. Please read it. More people read it, a better world we are going to have.
December 26, 2020
Seems like a good introduction to Human Action from Mises.
In this book, Rothbard explains why the traditional econometrics models applied to the study of economics make no sense and describe praxiology as an alternative tool.
In this book, Rothbard explains why the traditional econometrics models applied to the study of economics make no sense and describe praxiology as an alternative tool.
August 18, 2014
This book is truly a revelation. A complete and cohesive account of how the economy works, derived analytically through first principles. However this book is not an easy read. A lot of re-reads of individuals chapters may be required to clearly understand what Rothbard is saying. Took me three months of reading to complete this book. However every read was enjoyable. Shatters all conventional economic understanding from your economics education. Definitely should be read by everyone interested in Economics. Specially recommended for Thomas Picketty fans. You will be rid of Picketty nonsense forever.
December 11, 2010
Another of the "Austrian" greats, outlines his ideas on the economy.
April 26, 2016
One of the few books that changed my views about most things.
August 9, 2025
Economia sempre foi um tema que me interessa, mas confesso que faziam anos que não parava para ler um livro sobre o tema. A ideia de pegar um livro com pouco mais de 1200 páginas (Kindle) me pareceu interessante, ainda mais por se tratar de um livro escrito várias décadas atrás. Algo nele seria atual? Algo seria ainda útil?
A leitura é fácil mas não rápida. Tentei manter um ritmo de 10 a 20 páginas por dia, as vezes um pouco mais, ou um pouco menos. Este é um livro para ser lido com calma, tomando notas e refletindo. E ao final percebi que realmente valeu a pena ter contato com o material - concordando ou não, o autor é bastante didático. A imagem do náufrago e a ilustração do início de um sistema econômico é fantástica. A explicação sobre hiperinflação e sobre congelamento de preços também ficaram ótimas - inclusive lembram bastante o contexto brasileiro de poucas décadas atrás.
Por outro lado, as longas críticas a ideias diferentes das dele talvez não tenham tido o mesmo sucesso neste livro. O autor gasta vários parágrafos discordando de outras linhas de pensamento, tornando esses trechos confusos e pouco interessantes para o leitor que apenas quer conhecer a forma Murray de pensar.
O final do texto se dedica ao papel do Estado (ou "estado", como nessa versão brasileira). Esse trecho me pareceu mais confuso e longe da realidade atual. Pode ser só o cansaço deste leitor depois de 1200 páginas. Talvez o outro livro do autor, só sobre isso, me permita entender melhor.
Esse não é um livro para se concordar totalmente com o autor, mas para ver o mundo econômico de um modo diferente do habitual e refletir sobre o que estamos fazendo de certo ou de errado. E quem decide o que é certo ou errado é o leitor, pois, como Murray coloca muito bem: não cabe ao economista avaliar a moral e decisões individuais.
Em tempo: a tradução apresenta algumas poucas falhas, mas nada que comprometa o entendimento.
A leitura é fácil mas não rápida. Tentei manter um ritmo de 10 a 20 páginas por dia, as vezes um pouco mais, ou um pouco menos. Este é um livro para ser lido com calma, tomando notas e refletindo. E ao final percebi que realmente valeu a pena ter contato com o material - concordando ou não, o autor é bastante didático. A imagem do náufrago e a ilustração do início de um sistema econômico é fantástica. A explicação sobre hiperinflação e sobre congelamento de preços também ficaram ótimas - inclusive lembram bastante o contexto brasileiro de poucas décadas atrás.
Por outro lado, as longas críticas a ideias diferentes das dele talvez não tenham tido o mesmo sucesso neste livro. O autor gasta vários parágrafos discordando de outras linhas de pensamento, tornando esses trechos confusos e pouco interessantes para o leitor que apenas quer conhecer a forma Murray de pensar.
O final do texto se dedica ao papel do Estado (ou "estado", como nessa versão brasileira). Esse trecho me pareceu mais confuso e longe da realidade atual. Pode ser só o cansaço deste leitor depois de 1200 páginas. Talvez o outro livro do autor, só sobre isso, me permita entender melhor.
Esse não é um livro para se concordar totalmente com o autor, mas para ver o mundo econômico de um modo diferente do habitual e refletir sobre o que estamos fazendo de certo ou de errado. E quem decide o que é certo ou errado é o leitor, pois, como Murray coloca muito bem: não cabe ao economista avaliar a moral e decisões individuais.
Em tempo: a tradução apresenta algumas poucas falhas, mas nada que comprometa o entendimento.
February 16, 2022
Pocas veces puede verse un libro tan aclamado por tantos siendo tan patentemente una patraña escrita por alguien que parece conocer poco de los principios empresariales pero todavía conoce menos de las bases en las que se fundamenta el estado moderno (algo en común con varios defensores del anarcocapitalismo).
Quien haya leído todo el libro (todo) ha de sonrojarse, sorprenderse y asquearse ante las proposiciones del final del libro, no lejanas a los postulados del nazismo. O cuando afirma que los acaudalados no cuentan con mayores facilidades para hacer dinero que cualquier otro, cuando, como es sabido, una persona sólo puede dedicar a la inversión aquello que no necesita para su sostén básico vital.
En fin, correcta la teoría este libro promulga una vomitiva interpretación práctica. Que , por suerte es evitable si el lector tira el libro antes de llegar al últmo 20% que defiende tales majaderías.
Quien haya puesto un 4 o un 5 a este libro, o bien no lo ha leído en toda su extensión, o bien comulga con sus abominables ideas.
Quien haya leído todo el libro (todo) ha de sonrojarse, sorprenderse y asquearse ante las proposiciones del final del libro, no lejanas a los postulados del nazismo. O cuando afirma que los acaudalados no cuentan con mayores facilidades para hacer dinero que cualquier otro, cuando, como es sabido, una persona sólo puede dedicar a la inversión aquello que no necesita para su sostén básico vital.
En fin, correcta la teoría este libro promulga una vomitiva interpretación práctica. Que , por suerte es evitable si el lector tira el libro antes de llegar al últmo 20% que defiende tales majaderías.
Quien haya puesto un 4 o un 5 a este libro, o bien no lo ha leído en toda su extensión, o bien comulga con sus abominables ideas.
January 6, 2025
Las ideas de Murray Rothbard, junto con las de Frederic Bastiat, Robert Nozick, Hans Hermann Hoppe, entre otros me ayudaron a formar criterio respecto de la ineficiencia, incapacidad, despilfarró de recursos qué significan los aparatos gubernamentales. Es importante ver las medidas de contención del gasto gubernamental y reducción del tamaño del aparato estatal en Argentina por parte del presidente Milei y los efectos que estas tendrán en el mediano plazo, Argentina es un claro ejemplo de un país en el cual la demagogia de los políticos creó un aparato estatalinsostenible.
This entire review has been hidden because of spoilers.
March 26, 2022
Interesting approach to economics which refuses to acknowledge the changes in thinking and practicing economics from the 1920s and espousing deductive logic as a method of looking at the world. I admit to some irritation with the text and a struggle with the length and the nature of it also.
In the end I did grasp the view being put forward but felt that the method itself was not always suitable as a way of thinking about economics per second.
In the end I did grasp the view being put forward but felt that the method itself was not always suitable as a way of thinking about economics per second.
October 22, 2023
Terrific explanation of free market economics. Tedious in parts but no more than is necessary for clarity on the subject. A few very surprising conclusions are explored/explained.
Mises' Human Action is a better read. I would say Rothbard is more comprehensive--it has information/ideas you won't find in Human Action b/c it came later.
Mises' Human Action is a better read. I would say Rothbard is more comprehensive--it has information/ideas you won't find in Human Action b/c it came later.
March 7, 2021
Molt bo el llibre. No tinc molt a resumir, praxeologia economia austríaca de la qual mestic fent bastant fan. Li posaria un 5 però el final shem ha fet una mica repetitiu. Suposu també perk he estudiat economia i se del que em parla. A ver els altres volums. Un llibre normal
August 1, 2023
Un curso práctico y sensato de economía. Muchas veces parece elemental y evidente. Sin embargo, lo elemental y evidente, cuando se topa con la política, parece desenfocarse. Es simple de entender y creo que ese es su valor añadido, que lo hace tan bueno dentro de su simplicidad.
November 28, 2024
Exhaustive in scope and forcefully argued, the only downside to this definitive work in Austrian economics is that it sometimes ignores the practical consequences of theoretically correct strcutures.
August 8, 2020
Extremely intuitive and logical deductive treatment of economics. It's so intuitive it could possibly be shorter.
The only thing I think might need some work is his theory on monopoly.
The only thing I think might need some work is his theory on monopoly.
August 7, 2022
Obra maestra
Read
May 5, 2024Didn't really finish. Switched to The Mises Reader instead.
October 11, 2016
Having been reading more and learning more Austrian economics in the last two years, Murray Rothbard's name has been impossible to avoid. This book is his magnum opus on the subject. A word of warning, this is an advanced book on the subject and is not an easy read by far. The way I view it this book explains better and to a different degree more than "Human Action" by Ludwig von Mises. Then you have different authors such as Tom Woods and Robert Murphy and Walter Block that do the same for Rothbard. After two years and understanding the concepts of Austrian Economics fairly well, I still was not ready for the writing of this book.
It should be noted that this review should be read in light that this author freely admits that his understanding is limited, flawed, and weak on the subject of this book.
I was not completely lost on this book and there were some ideas I had to sit and chew on for quite a few days. I would even dream about them, literally, to work them out. Sometimes I succeeded and other times I did not. With Rothbard being such a pillar it's hard not to want to read and like this book. The other good thing about that fact is so many other people have written about his ideas form other perspectives that are written for all sorts of variety degrees of understanding. I did pick up Robert Murphy's study guide on this book and found a few articles online of people boiling down the points by chapter. Another helpful resource was the Mises Institute website and Youtube page.
Again, any critique I give is flawed and is probably not as informed as it should be. I would have like Rothbard to go into more comparison/contrast with Keynesian and would have loved to see way more examples of some of the pure concepts.
I did not hate reading this book and I did learn a lot. There might be a day where I pick it back up again but as I wrote above, so many good people within the community look up to Rothbard and can distill down these large concepts for people like me. It shows you how well Rothbard really was. Final Grade - B
It should be noted that this review should be read in light that this author freely admits that his understanding is limited, flawed, and weak on the subject of this book.
I was not completely lost on this book and there were some ideas I had to sit and chew on for quite a few days. I would even dream about them, literally, to work them out. Sometimes I succeeded and other times I did not. With Rothbard being such a pillar it's hard not to want to read and like this book. The other good thing about that fact is so many other people have written about his ideas form other perspectives that are written for all sorts of variety degrees of understanding. I did pick up Robert Murphy's study guide on this book and found a few articles online of people boiling down the points by chapter. Another helpful resource was the Mises Institute website and Youtube page.
Again, any critique I give is flawed and is probably not as informed as it should be. I would have like Rothbard to go into more comparison/contrast with Keynesian and would have loved to see way more examples of some of the pure concepts.
I did not hate reading this book and I did learn a lot. There might be a day where I pick it back up again but as I wrote above, so many good people within the community look up to Rothbard and can distill down these large concepts for people like me. It shows you how well Rothbard really was. Final Grade - B
December 4, 2023
I have more thoughts on this than I can write. It’s persuasive if you are primed ideologically to believe it. I will say in the positive that it’s easier to read than many economic treatises you might pick up. It’s way more readable than Human Action by Mises. However, at the end of the day, I’m not convinced all this arm chair theorizing is what’s actually happening out in the real world. Rothbard’s reasoning also leads him to absurd conclusions, as in anarchy. I was initially skeptical that working out economics from an axiom would prove anything meaningful. As you move deeper, I was even more concerned his starting point was indeed fatally flawed. If one wants a line by line demolition of Rothbard’s reasoning, please look up David Friedman’s takedown. It’s online for free.
have-unread
November 17, 2014"Man, Economy, and State by Murray Newton Rothbard (1993)"
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