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• Published on: 2012-01-25
• Binding: Paperback

Most helpful customer reviews

34 of 36 people found the following review helpful.
Impeccable for what it is !
By Joseph L. Brady
This book should be REQUIRED reading at the high school level if not earlier. There is hardly any clearer explanation of money (real) and the fiat system that we now suffer under. I have read much the same thing in other books, usually covered in one chapter as part of a larger subject (such as the workings of the FED), but this short tome covers the subject without any fluff, yet thoroughly enough to give the beginner a sound grounding. It was a good refresher for myself. Mr.Rothbard's arguments for sound money are of impeccable logic. His call for a return to gold is now a cry in the wilderness, for most Americans, and apparently some Australians have been so brainwashed in hardly more than a generation that they are willing to accept their fate under a false system. I only wish that Mr. Rothbard had given more historical parallels in his book. As I recall, Roman money was being debased during their decline! All in all, this is a book not to be missed. And I highly recommend any of Rothbard's works.

23 of 24 people found the following review helpful.
You have to read it to believe it
By Abolaji Ogunshola
This book is simply a classic, and I think that there is little in it that will be overturned by further discoveries about the nature of money. Of course, even if this was to happen, the book will remain one of the best and clearest introductions to the topic of money. The book is also a great example of expository and didactic prose, so it can also be read in that context.
In this book, Rothbard discusses the history and nature of money, and by doing both, explains to the reader what is wrong with the monetary system that the world operates on today. Parts of his writing will be familiar to anyone who has taken a course in economics where money was discussed. However, the more subtle facts about money (the money regression theorem, Gresham's Law, government intereference, the reasons he gives for the government's renunciation of the gold standard etc.) will be new and interesting territory for many readers. Of course, if the ideas of this book are read and combined with the other ideas espoused by Austrian Economics, of which the author was a great proponent, then the truth and coherence of his arguments are very strong.
I strongly recommend this book. Even those (like me) who do not agree with Rothbard's anarchism will find a lot in it that is good.

43 of 45 people found the following review helpful.
THE introduction to sound monetary policy
By John S. Ryan
The late Murray Rothbard's short volume is the best single introduction available to monetary theory -- and to the sort of fiscal jiggery-pokery that becomes possible to the State which takes control of the currency.

Here the reader will find a short introduction to what money is in the first place (and how it arises on a free market); how fiat currency makes inflation possible and allows the State to steal funds without anybody noticing; and what sound monetary policy would look like in the unlikely event that the State can ever be persuaded to take its fingers out of the pie. As is typical of Rothbard, the whole is presented with clarity, rigor, and wit.

Readers who like what they find here may want to go on to Ludwig von Mises's _Theory of Money and Credit_ -- which Rothbard describes somewhere as the best book ever on monetary theory.

See all 72 customer reviews...

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