Money as a Medium of Exchange – Quote by Murray Rothbard

„Money is the general medium of exchange. It is the thing for which all other goods are traded, the means of final payment for such goods on the market.“

Murray RothbardMurray Rothbard explains money as the general medium of exchange and the means of final payment in the market.
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Murray Rothbard was an American economist, historian, and political philosopher known for his contributions to libertarian theory and anarcho-capitalism.

Rothbard describes money as the general medium of exchange and payment in economic transactions.


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Murray Rothbard quote about money as a medium of exchange

Murray Newton Rothbard (1926–1995) was an American economist, historian, and political philosopher considered one of the leading figures in anarcho-capitalism and the libertarian movement. He was a prominent critic of government intervention in economy and society and authored numerous influential works on free market economics, monetary theory, and political philosophy.

Murray Rothbard quote about money, scarcity, and the effects of increasing the money supplyCopyright © yoice.net – Quote Artwork
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"Money is different from all other commodities: other things being equal, more shoes, or more discoveries of oil or copper benefit society, since they help alleviate natural scarcity. But once a commodity is established as a money on the market, no more money at all is needed. Since the only use of money is for exchange and reckoning, more dollars or pounds or marks in circulation cannot confer a social benefit: they will simply dilute the exchange value of every existing dollar or pound or mark." Murray Rothbard
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Money and state control quote image featuring Murray RothbardCopyright © yoice.net – Quote Artwork
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"Money ... is the nerve center of the economic system. If, therefore, the state is able to gain unquestioned control over the unit of all accounts, the state will then be in a position to dominate the entire economic system, and the whole society." Murray Rothbard
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Murray Rothbard quote about gold as the best moneyCopyright © yoice.net – Quote Artwork
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"It is particularly odd that economists who profess to be champions of a free-market economy, should go to such twists and turns to avoid facing the plain fact: that gold, that scarce and valuable market-produced metal, has always been, and will continue to be, by far the best money for human society." Murray Rothbard
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Quote by Ayn Rand about society’s virtue, corruption, and moral declineCopyright © yoice.net – Quote Artwork
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"Money is the barometer of a society’s virtue. When you see that trading is done, not by consent, but by compulsion- When you see that in order to produce, you need to obtain permission from men who produce nothing- when you see that money is flowing to those who deal, not in goods, but in favors- when you see that men get richer by graft and by pull than by work, and your laws don’t protect you against them, but protect them against you- when you see corruption being rewarded and honesty becoming a self-sacrifice – you may know that your society is doomed." Ayn Rand
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Murray Rothbard quote about gold as the monetary standardCopyright © yoice.net – Quote Artwork
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"Gold was not selected arbitrarily by governments to be the monetary standard. Gold had developed for many centuries on the free market as the best money; as the commodity providing the most stable and desirable monetary medium." Murray Rothbard
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