The Evenly Rotating Economy


This is an excerpt from Chapter 5 of Man, Economy and State by Murray Rothbard (page 320-329). Analysis of the activities of production in a monetary market economy is a highly complex matter. An explanation of these activities, in particular the determination of prices and therefore the return to factors, the allocation of factors, and [...]

The Crusade Against South Africa


By Murray Rothbard

This article first appeared in The Free Market in July 1985. Rothbard argued that free-market capitalism is the best antidote for racism. In a free market, employers who refuse to hire productive black workers are hurting their own profits and the competitive position of their own company. It is only when the state steps in that the government can socialize the costs of racism and establish an apartheid system.