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What Has Government Done to Our Money? and The Case for a 100 Percent Gold Dollar
The Mises Institute is pleased to present this very beautiful hardbound edition of Rothbard's most famous monetary essay--the one that has influenced two generations of economists, investors, and business professionals. The Mises Institute has united this book with its natural complement: a detailed reform proposal for a 100 percent gold dollar. The Case for a 100 Percent Gold Dollar was written a decade before the last vestiges of the gold standard were abolished. His unique plan for making the dollar sound again still holds up. Some people have said: Rothbard tells us what is wrong with money but not what to do about it. Well, by adding this essay, the problem and the answer are united in a comprehensive whole. After presenting the basics of money and banking theory, he traces the decline of the dollar from the 18th century to the present, and provides lucid critiques of central banking, New Deal monetary policy, Nixonian fiat money, and fixed exchange rates. He also provides a blueprint for a return to a 100 percent reserve gold standard. The book made huge theoretical advances. He 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. But just as importantly, it is beautifully written. He tells a thrilling story because he loves the subject so much. The passion that Murray feels for the topic comes through in the prose and transfers to the reader. Readers become excited about the subject, and tell others. Students tell professors. Some, like the great Ron Paul of Texas, have even run for political office after having read it. 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. He shows how exchange rates and interest rates would work in a true free market. When it comes to describing the end of the gold standard, he is not content to describe the big trends. He names names and ferrets out all the interest groups involved. Since Rothbard's death, scholars have worked to assess his legacy, and many of them agree that this little book is one of his most important. Though it has sometimes been inauspiciously packaged and is surprisingly short, its argument took huge strides toward explaining that it is impossible to understand public affairs in our time without understanding money and its destruction.
191 pages, Hardcover
First published January 1, 1963
About the author
Murray N. Rothbard
222 books958 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 - 30 of 204 reviews
December 20, 2009
This book, along with "The Mystery of Banking" make for fantastic introductions into the system of economic theory known as the Austrian-School.
Austrian-School economics is the foundation for economic theory among most libertarians. If you've come to regard economics as boring, you're missing out! Austrian-School theory is intuitive, commonsensical, and empowering. It's the only fully integrated theory of economics which can simply and reliably explain (and predict!) the ups and downs of the business cycle, without resorting to dubious claims from psychology and bastardizations of group dynamics.
Other theories, like the Keynesian-School, must use intensely complicated and ultimately fallacious concepts to explain common economic phenomena, making for a disinterested public, and an over-reliance on so-called experts to interpret conditions. It's no surprise then, that Keynesian-School theory is the choice of most modern educational institutions, and the orthodoxy of public policy schools. It's inscrutability and need for expert interpretation lends itself to use by the state as a lever of control.
This book and "Banking", mentioned above, both by renown libertarian scholar Murray Rothbard, give an easy, ground-up primer on the monetary aspect of Austrian-School theory. No prior experience is required. You'll likely find yourself "getting it" almost from the first page. And if you've never been in contact with this way of economic thinking before, get ready for a shock. It'll cause you to question why the mainstream doesn't ever seem to want to look at things this way.
You'll discover here why the gold standard was natural, a great idea, why we (and all modern nations) left it, and how it's not the anachronistic boogey-man mainstream media and economists would like you to think it is.
Austrian-School economics is the foundation for economic theory among most libertarians. If you've come to regard economics as boring, you're missing out! Austrian-School theory is intuitive, commonsensical, and empowering. It's the only fully integrated theory of economics which can simply and reliably explain (and predict!) the ups and downs of the business cycle, without resorting to dubious claims from psychology and bastardizations of group dynamics.
Other theories, like the Keynesian-School, must use intensely complicated and ultimately fallacious concepts to explain common economic phenomena, making for a disinterested public, and an over-reliance on so-called experts to interpret conditions. It's no surprise then, that Keynesian-School theory is the choice of most modern educational institutions, and the orthodoxy of public policy schools. It's inscrutability and need for expert interpretation lends itself to use by the state as a lever of control.
This book and "Banking", mentioned above, both by renown libertarian scholar Murray Rothbard, give an easy, ground-up primer on the monetary aspect of Austrian-School theory. No prior experience is required. You'll likely find yourself "getting it" almost from the first page. And if you've never been in contact with this way of economic thinking before, get ready for a shock. It'll cause you to question why the mainstream doesn't ever seem to want to look at things this way.
You'll discover here why the gold standard was natural, a great idea, why we (and all modern nations) left it, and how it's not the anachronistic boogey-man mainstream media and economists would like you to think it is.
June 27, 2008
I learned or rather rediscovered my passion for economics by reading Dr.Rothbard's book. His effort here is a very short, concise, surprisingly easy one to read. Rothbard suggests that it is government meddling and its monopolistic strangehold on the creation of money that is responsible for boom-bust business cycles. He expounds on this sentiment in his narrative regarding the perfect storm of several interdependent events which drive the destructive hyperinflation of our currency. The dissolution of the gold standard, fractional-reserve banking and the usurpation of the countries treasury by a handful of wealthy private bankers Rothbard asserts as the reason for such a disparity in arms.
October 6, 2019
6 Oct. 2019 - I have read this book at least a couple times over the last 40 years.
Excellent little book.
It really clearly explains the concept of money and how the Fed (Federal Reserve Board) controls it in the US.
Rothbard has a funky notion about 100% reserve requirement and I believe gets that aspect quite wrong. This is not really a minor problem with this book, but the rest is so good that I still give it 4 stars.
But I urge the thoughtful reader to move on to Mises, in particular the pertinent sections of Human Action, to get the more full and complete story.
There are other critiques of Rothbard, and I will add them as I get that info.
Excellent little book.
It really clearly explains the concept of money and how the Fed (Federal Reserve Board) controls it in the US.
Rothbard has a funky notion about 100% reserve requirement and I believe gets that aspect quite wrong. This is not really a minor problem with this book, but the rest is so good that I still give it 4 stars.
But I urge the thoughtful reader to move on to Mises, in particular the pertinent sections of Human Action, to get the more full and complete story.
There are other critiques of Rothbard, and I will add them as I get that info.
September 14, 2017
Excellent introduction to money and gold dollar.
June 28, 2010
Confused about how the Federal Reserve works, or why we need it? Can't figure out what causes inflation? Does the whole financial crisis have you baffled? This is a great place to start working through the muck. If you don't read anything else, read the section on money warehouses, though the whole book is worth a read.
September 10, 2014
Murray Rothbard was a great writer, and these two essays are no exception. Though the essays are at times repetitive, his arguments are clearly defined, comprehensively argued and in his typical style adorned with various amusing and interesting anecdotes and examples.
Even decades after being first published these essays will still be of interest to those who want a different perspective on banking from the one found in the average newspaper. After reading the essays, it'd be hard to think that, as is often assured, all is well in the world of finance.
Rothbard concludes his essay The Case for the 100 Percent Gold Dollar with the following statement, aimed at those who would argue that the ideas he advocates are out of touch with the modern world, or even dangerous.
Even decades after being first published these essays will still be of interest to those who want a different perspective on banking from the one found in the average newspaper. After reading the essays, it'd be hard to think that, as is often assured, all is well in the world of finance.
Rothbard concludes his essay The Case for the 100 Percent Gold Dollar with the following statement, aimed at those who would argue that the ideas he advocates are out of touch with the modern world, or even dangerous.
'There is no gainsaying the fact that this suggested program will strike most people as impossibly “radical” and “unrealistic”; any suggestion for changing the status quo, no matter how slight, can always be considered by someone as too radical, so that the only thoroughgoing escape from the charge of impracticality is never to advocate any change whatever in existing conditions. But to take this approach is to abandon human reason, and to drift in animal- or plant-like manner with the tide of events.'
August 22, 2014
'What Has Government Done to Our Money' is considered one of the strongest introductions into monetary theory by many liberty-minded individuals. Rothbard is a literary economist, rather than an academic one, and the unfortunate result is an exploratory work, and not a particularly rigorous one. The only interesting part of this work is a modest exploration of the history of 'money'. Unfortunately, Rothbard skips inductive or deductive methodologies, analysis of monetary data, and any semblance of quasi or true experimental design. Instead, he proposes to move straight into the discussion of policy options. It does not occur to Rothbard that proper inferences can only be drawn when there is data from which to draw!In so doing, Rothbard allows himself to leap from bombastic claim(fractional reserve banking is the primary cause of business cycles) to bombastic conclusion (in a free society, people would institute bank runs to close down fractional reserve banks).
My point is not that Rothbard is mistaken (although he is), but rather that his work lends no justification to his claims, or to any claims, for that matter. It is important that this is recognized for what it is: a man's opinion, not argument.
My point is not that Rothbard is mistaken (although he is), but rather that his work lends no justification to his claims, or to any claims, for that matter. It is important that this is recognized for what it is: a man's opinion, not argument.
February 26, 2016
Why do we consider that money, alone among all commodities, needs to be carefully regulated and controlled by a central government and cannot be left in the invisible hands of the free market? What really is money, how it came to be and what is its price? Can its creation and regulation be entrusted to the free market? How did currencies such as the pound and the dollar cease to mean a certain weight of gold and become the fiat moneys they are today?
Those are just a few of the questions answered in this book. It is both engaging and extremely informative. It filled many of the gaps in my appalingly meagre financial education. Highly recommend, even if you don't agree with the author's libertalian views.
Those are just a few of the questions answered in this book. It is both engaging and extremely informative. It filled many of the gaps in my appalingly meagre financial education. Highly recommend, even if you don't agree with the author's libertalian views.
April 8, 2010
"WHERE'S THE GOLD? LET'S GO GET THE GOLD!!!" --ATHF
Ever wonder why gold's breaking $900 (Jan 2008), or "if our money isn't based on the gold standard anymore, then what is it based on?"
Wonder why our government has rendered our money increasingly worthless for their own power and self-aggrandizement?
This book is pretty damn good if you want to take the red pill and see why our government is leading us to financial ruin.
As a bonus, you can download a pdf copy or read the html version off of the mises.org website. Just google, "rothbard government money."
Ever wonder why gold's breaking $900 (Jan 2008), or "if our money isn't based on the gold standard anymore, then what is it based on?"
Wonder why our government has rendered our money increasingly worthless for their own power and self-aggrandizement?
This book is pretty damn good if you want to take the red pill and see why our government is leading us to financial ruin.
As a bonus, you can download a pdf copy or read the html version off of the mises.org website. Just google, "rothbard government money."
February 14, 2012
What Has the Government Done to Our Money directly assaults the fraudulent monetary system of fiat currency and reaffirms the sustainability in economic growth of free market currency based on an commodity such as gold and silver. Murray Rothbard briefly confutes the delusional enchantment of the impregnable system of fiat currency by issuing inflation as the most devastating phenomenon in monetary economics.
Inflation is the debasing of a currency by creating money out of thin air, which means the purchasing power is decreased due to the increase in the money supply. Inflation generates illusory profits and distorts calculation of business, so free markets are unable to reward efficiency and penalize inefficiency. “The general atmosphere of a sellers’ market will lead to a decline in quality of goods and of service to consumers since consumers often resist price increases less when they occur in form of downgrading of quality.” Not only does inflation destroy business, but the compulsory monopoly of mint in the control of the money supply by central banks destroys free markets even in monetary terms. Central banks are responsible for inflation, for it removes all checks on inflation as well as direct inflation.
Overall, Rothbard is a true inspiration of brilliance in the field of economics where he can deliver a concise explanation of the government transgressions into the market and the incessant yet futile attempt to control economic activity through manipulating the currency. It is an absolute blast to read Rothbard every time.
Inflation is the debasing of a currency by creating money out of thin air, which means the purchasing power is decreased due to the increase in the money supply. Inflation generates illusory profits and distorts calculation of business, so free markets are unable to reward efficiency and penalize inefficiency. “The general atmosphere of a sellers’ market will lead to a decline in quality of goods and of service to consumers since consumers often resist price increases less when they occur in form of downgrading of quality.” Not only does inflation destroy business, but the compulsory monopoly of mint in the control of the money supply by central banks destroys free markets even in monetary terms. Central banks are responsible for inflation, for it removes all checks on inflation as well as direct inflation.
Overall, Rothbard is a true inspiration of brilliance in the field of economics where he can deliver a concise explanation of the government transgressions into the market and the incessant yet futile attempt to control economic activity through manipulating the currency. It is an absolute blast to read Rothbard every time.
November 17, 2015
many people believe we can go back to the gold standard and that it would cause more monetary and economic stability which not possible today. this book provides excellent knowledge on money and the revolution of money
its a good read. i'd recommend it to whoever is calling to go back to the gold standard,specifically the last two chapters, and what he said about world war I is an explanation on why it is impossible to go back to a gold standard today.
NOTE: read the last edition because since the first edition many content changed.
its a good read. i'd recommend it to whoever is calling to go back to the gold standard,specifically the last two chapters, and what he said about world war I is an explanation on why it is impossible to go back to a gold standard today.
NOTE: read the last edition because since the first edition many content changed.
July 7, 2022
Кратко и простым языком изложенная теория денег. Вполне может использоваться в качестве учебника. Жаль что анализ взаимодействия денег и государства заканчивается на 70-х годах.
У аудиокниги на удивление отличный чтец - Артем Логинов. Часто бывает сложно слушать нон-фикшн, но у него получается донести все содержание до мозга.
У аудиокниги на удивление отличный чтец - Артем Логинов. Часто бывает сложно слушать нон-фикшн, но у него получается донести все содержание до мозга.
August 23, 2020
Gostaria de ter lido este livro há mais tempo, uns três anos atrás. Certamente teria direcionado melhor minhas leituras, meus aprendizados e estudos em economia. Excelente livro, engana pelo número de páginas. Muito denso, muita coisa para entender. Muito bem escrito e organizado. Recomendo demais.
January 25, 2024
It is a joy to read a clearly stated and intelligent argumentative text. For those who don’t want to get into the whole ordeal (even though I recommend reading this, no matter your opinions on the monetary standards) the argument comes down to one question: do most people believe (what matters for the value of money is what most people believe, not what you as an individual believe) that the government or firms that have competed for the trust of people and survived this is the most trustworthy?
August 29, 2010
Governments change, but policies rarely seem to.
After all, when the creation of false dilemmas is deemed an occupational necessity, their perpetuation becomes an unspoken imperative. So, regardless of the degree of fiscal conservatism practiced, and monetary policy tightening encouraged; all governments tend to be inherently inflationary.
This assertion itself is not greatly disputed, and Rothbard demonstrates why this is so in the first part of the book; What Has Government Done to Our Money? is a cogent account of the evolution of money to facilitate trade, and of its subsequent appropriation by the states and their agencies, the central banks, that eventually led to the de-linking to the gold standard which kept the overall supply of money in check.
How this in turn has fostered the now-familiar economic boom-bust cycles is also well argued; and economists from the Austrian school can feel vindicated for having predicted the current state of affairs on this basis.
The second part of the book, The Case for the 100 Percent Gold Dollar , is not as persuasive, even if it does possess theoretical merit. For one, on the monetary side, fractional-reserve banking is so well-entrenched that to even contemplate that consumers would pay "warehousing fees" for the safe-keeping of their money, rather than receive an interest income, is rather difficult; not is it clear that governments can effectively provide the desired supply of public goods without being at least somewhat inflationary.
After all, when the creation of false dilemmas is deemed an occupational necessity, their perpetuation becomes an unspoken imperative. So, regardless of the degree of fiscal conservatism practiced, and monetary policy tightening encouraged; all governments tend to be inherently inflationary.
This assertion itself is not greatly disputed, and Rothbard demonstrates why this is so in the first part of the book; What Has Government Done to Our Money? is a cogent account of the evolution of money to facilitate trade, and of its subsequent appropriation by the states and their agencies, the central banks, that eventually led to the de-linking to the gold standard which kept the overall supply of money in check.
How this in turn has fostered the now-familiar economic boom-bust cycles is also well argued; and economists from the Austrian school can feel vindicated for having predicted the current state of affairs on this basis.
The second part of the book, The Case for the 100 Percent Gold Dollar , is not as persuasive, even if it does possess theoretical merit. For one, on the monetary side, fractional-reserve banking is so well-entrenched that to even contemplate that consumers would pay "warehousing fees" for the safe-keeping of their money, rather than receive an interest income, is rather difficult; not is it clear that governments can effectively provide the desired supply of public goods without being at least somewhat inflationary.
August 17, 2014
Dr. Rothbard left us in 1995, and wrote the first edition of "What Has Government Done to our Money" in 1964, but he is still the clearest voice on economic policy today -- more than David Stockman. In 2014, Jim Grant of "Grant's Interest Rate Observer" may be the only financial journalist that comes close to the pristine prose of Murray Rothbard. I originally read this book four years ago, and it is just as clear this time around. I wish I had his clarity.
This fourth edition, like his previous editions, de-bamboozles the public's understanding of central banking and banking on the free-market. Interestingly, with each passing addition some monetary period came and went. In 1964, The United States had yet to de-link the U.S. dollar from gold completely. But by this last edition, which is still pre-European Union and pre-Euro, the dollar had become a completely fiat currency. He also talked about our current state of fluctuating fiat currencies, which the author believes, like every other monetary fix, will not last; and, if central banks attempt to make it last it will only give us inflation in the long-run which will be of no benefit to anyone.
If you have never read a book on economics or monetary policy, make this your first one.
This fourth edition, like his previous editions, de-bamboozles the public's understanding of central banking and banking on the free-market. Interestingly, with each passing addition some monetary period came and went. In 1964, The United States had yet to de-link the U.S. dollar from gold completely. But by this last edition, which is still pre-European Union and pre-Euro, the dollar had become a completely fiat currency. He also talked about our current state of fluctuating fiat currencies, which the author believes, like every other monetary fix, will not last; and, if central banks attempt to make it last it will only give us inflation in the long-run which will be of no benefit to anyone.
If you have never read a book on economics or monetary policy, make this your first one.
May 24, 2015
Very disappointing. I had previously read End the Fed and found that to be a truly awful book. I expected that a book by an actual economic professor would be much better. And, yes this book is definitely better. Still, it wasn't a very good defense of the gold standard. The usual narrative by mainstream economists is that the rise of the quantity theory of money is what killed the gold standard. Not only is this not discussed at all in the book, one gets the distinct impression that either Rothbard has never heard of, or worse, dismisses the quantity theory of money. At one point he says, "[D]eflation can only take place after a previous inflation; only pseudo-receipts, not gold coins, can be retired and liquidated." This debunked idea is one of false ones that economist Allan Melzer in his iconic history of the Federal Reserve blames the Fed for following in their failure to deal properly with the Great Depression.
January 23, 2009
This is an excellent overview of how and why government interferes with the proper use and role of money in society. Nationalization of currency creates unnatural barriers between nations that don't exist where "hard money" (gold) is used. Governments that are too cowardly to tax their citizens the way they would like to, simply steal their money through inflation. They can only inflate at will if they remove the checks on credit pyramiding. We have no practical checks to inflation left in the modern economic world.
One of the chapters read like a prophecy of the cover of WSJ any of the last 6 months. The hard truth here, is that our monetary system is totally screwed up, and all of the current 'ideas' to correct it will only take us in the wrong direction. A proper cure to our monetary system will hurt, but it won't hurt as bad as the disease we currently have.
One of the chapters read like a prophecy of the cover of WSJ any of the last 6 months. The hard truth here, is that our monetary system is totally screwed up, and all of the current 'ideas' to correct it will only take us in the wrong direction. A proper cure to our monetary system will hurt, but it won't hurt as bad as the disease we currently have.
December 8, 2014
Um livro definitivo sobre como funciona o sistema monetário.
Nesta obra espetacular, o economista "austríaco" Murray Rothbard detalha de maneira extraordinariamente didática a história do dinheiro como meio de troca, desde os tempos do escambo até os anos 80.
Em um trabalho de pesquisa minucioso e repleto de referências históricas, o autor expõe como o intervencionismo estatal foi (e continua sendo) capaz de causar distúrbios seríssimos sobre o mercado financeiro.
O posfácio de Fernando Ulrich busca completar a obra de Rothbard com a análise das crises financeiras mais recentes, entre os anos 90 até os dias de hoje, e atinge o objetivo com um belo resumo sobre o momento atual do mercado financeiro mundial.
Nesta obra espetacular, o economista "austríaco" Murray Rothbard detalha de maneira extraordinariamente didática a história do dinheiro como meio de troca, desde os tempos do escambo até os anos 80.
Em um trabalho de pesquisa minucioso e repleto de referências históricas, o autor expõe como o intervencionismo estatal foi (e continua sendo) capaz de causar distúrbios seríssimos sobre o mercado financeiro.
O posfácio de Fernando Ulrich busca completar a obra de Rothbard com a análise das crises financeiras mais recentes, entre os anos 90 até os dias de hoje, e atinge o objetivo com um belo resumo sobre o momento atual do mercado financeiro mundial.
July 26, 2020
An exposition of the gold standard, and the history of banks in the United States. Just like in his A History of Money and Banking in the United States: The Colonial Era to World War II, Rothbard gives us a very detailed history, sometimes it feel synchronized to be life-paced, of how the world got off the gold-standard.
I honestly enjoyed the first half of the book much more, since it was loaded with economic theory. I will follow up with his The Case for a 100 Percent Gold Dollar.
I honestly enjoyed the first half of the book much more, since it was loaded with economic theory. I will follow up with his The Case for a 100 Percent Gold Dollar.
October 4, 2017
Rothbard argues that federal tampering with money depreciates the value of the dollar, thus increasing inflation. More money in the economy is not necessarily good. If I increase the money supply by 10%, then people have more money to spend on goods. However, in order to make a profit (or not go broke), the entrepreneur must increase his prices by 10%, so we are back at square one.
But it is more sinister than that. The FED, by means of controlling central bank, can create wealth ex nihilo, sort of like God in Genesis 1. The more money they create by means of fraction reserve banking, the less our dollar is worth. Don't believe me? Read a newspaper and see the results.
But it is more sinister than that. The FED, by means of controlling central bank, can create wealth ex nihilo, sort of like God in Genesis 1. The more money they create by means of fraction reserve banking, the less our dollar is worth. Don't believe me? Read a newspaper and see the results.
January 13, 2010
An excellent case for the gold standard with intelligent rebuttals to the claimed pitfalls of the same. The essay at the end, Case for the 100 Percent Gold Dollar, is a great short read if you don't have as much time, or if you want to decide whether to read the book, but the book is far more detailed and perhaps even more reader friendly. What is monetary policy? What is even money? Why do even some otherwise free market types yet call for government regulation of money? Is there a place for free market types that take the buck all the way to include even money? This book does an excellent job of addressing these questions and more.
May 25, 2009
Rothbard is ever the genius. This review will not do his book justice.
He promotes a free market monetary system with no government control/meddling. He clearly favors a hard metal currency, and a single currency within a country. I am more of a believer in any currency (metal or no) that the free market determines. Thus, I would be more than happy to see concurrent currencies. However, Rothbard does not really broach that issue, he simply mentions it in passing.
The book is good and finishes with a brief overview of the history of government meddling in money.
He promotes a free market monetary system with no government control/meddling. He clearly favors a hard metal currency, and a single currency within a country. I am more of a believer in any currency (metal or no) that the free market determines. Thus, I would be more than happy to see concurrent currencies. However, Rothbard does not really broach that issue, he simply mentions it in passing.
The book is good and finishes with a brief overview of the history of government meddling in money.
April 22, 2011
Rothbard is the man. His brutally methodical and rational approach to what money is, and what it should be, make his case for a gold standard seem obvious, despite the majority of economists supporting government controlled, fiat currencies and condescendingly mocking 'goldbugs.'
After reading from various sources on inflation, deflation, the gold standard, the merits and evils of saving (aka hoarding) and the role of government in creating and regulating money I am convinced that this is the book to go to. Any argument against a gold standard will have to answer Rothbard to remain credible.
After reading from various sources on inflation, deflation, the gold standard, the merits and evils of saving (aka hoarding) and the role of government in creating and regulating money I am convinced that this is the book to go to. Any argument against a gold standard will have to answer Rothbard to remain credible.
March 3, 2016
If you've ever wondered how humanity went from a bartered system of trade to one that uses FIAT currency, you should read this book. Eye-opening and seriously scary stuff from Rothbard regarding our system of currency and its evolution.
November 30, 2014
Livro sensacional. Ajuda a entender a natureza do dinheiro, funcionamento e história, além das intervenções do governo sobre ele. Definitivamente, é uma obra indispensável.
November 11, 2018
Great short book about why we should go back to the 100% Gold Standard and the history of how we got off the gold standard. Free ebook version available at mises.org.
February 19, 2019
As someone who knows nothing about economics this was still quite accessible. The beginning was a really nice introduction on the origins of money with examples for every concept. My only complaint is that as the book progressed the concepts started to get out of hand and there were fewer examples to help out. Some extra background reading is probably recommended. Overall I learned quite a bit.
April 13, 2020
A very good, short, easy to read and understand book(s) on money, what it is, what it's used for and some of the problems we currently have regarding it. I liked the history he gave of money and how our government gradually seized control of it via banking and minting. This is a fairly accessible book, I think most people will be able to grasp it. He keeps it pretty basic, which is nice.
June 24, 2021
Concise and clear. Rothbard weaves a convincing narrative of the emergence of money and the adverse effects of government interference (or existence). He does not, however, include any criticisms of his work and I feel like this weakens the book considerably. In any case, it's short and I would recommend it to anyone interested in the theory of money and/or economics.
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