Murray Rothbard on Economics and Uncertainty

„Modern economics is a set of formal models and equations purporting to fully determine human behaviour, at least in the economic realm. And there is no way that uncertainty can be compressed into determinate mathematical models.“

Murray RothbardMurray Rothbard questions modern economics’ claim to fully determine human behavior and represent uncertainty through mathematical models.
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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 criticizes the claim that formal economic models can fully explain human behavior and capture uncertainty mathematically.


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Murray Rothbard quote about economics and uncertainty

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 economic ignorance and responsibilityCopyright © yoice.net – Quote Artwork
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"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." Murray Rothbard
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Quote by Professor Dr. Dr. Wolfgang Berger about the misconceptions in academic economicsCopyright © yoice.net – Quote Artwork
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"I acquired all my academic titles by believing in a false doctrine. A studied economist understands less about macroeconomics than a cow does about flying, because he first has to dig himself out of a swamp of preconceived opinions and errors in thinking in order to even reach the surface, or to get back to where he was before he let himself be committed to the stupification asylum." Professor Dr. Dr. Wolfgang Berger
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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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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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