Murray Rothbard Collection

. He is credited with coining the term "anarcho-capitalism," a system where all services, including defense and justice, are provided by competing private firms instead of a government. 

• Praxeology and Austrian Economics: A protégé of Ludwig von Mises, Rothbard embraced the a priori methodology of praxeology, which holds that economic laws are unchanging axioms of human action that can be derived through logical reasoning. This put him at odds with the mainstream academic consensus, which he felt ostracized him.
• Opposition to the State: Rothbard argued that all government services could be more efficiently provided by the private sector. In his view, the state is a "monopoly of force" and "the organization of robbery systematized and writ large". He advocated for the complete privatization of all public services.
• Monetary Theory: He called fractional-reserve banking a form of fraud and strongly opposed central banking and fiat money. He advocated for a return to a gold standard with a 100% reserve requirement for banks.
• Critiques of Other Economists: He was a strong polemicist against mainstream economists. He considered Adam Smith a plagiarist who set economics on the wrong path and criticized John Maynard Keynes as a shallow opportunist. He also sparred with other Austrian economists, including his mentor Ludwig von Mises, particularly on the subject of ethics.