Murray Rothbard (1926-1995) was a libertarian economist who extended the Austrian School of Economics to broader opposition to government. For example, Rothbard defended large, private firms (unlike many economists, Rothbard rejected the idea of free market monopolies). Murray Rothbard coined the term "anarcho-capitalism" and is considered the founder of anarcho capitalism and paleolibertarianism. Murray Rothbard was a friend of Ron Paul and supported Ron Paul's 1988 presidential campaign on the libertarian party ticket.
Rothbard is praised by the Ludwig von Mises Institute, which continues to promote his work. Three of Rothbard's most famous books are For a New Liberty, Man, Economy and State, and The Ethics of Liberty.
- One gratifying aspect of our rise to some prominence is that, for the first time in my memory, we, "our side," had captured a crucial word from the enemy. Other words, such as "liberal," had been originally identified with laissez-faire libertarians, but had been captured by left-wing statists, forcing us in the 1940s to call ourselves father feebly "true" or "classical" liberals. "Libertarians"’, in contrast, had long been simply a polite word for left-wing anarchists, that is for anti-private property anarchists, either of the communist or syndicalist variety. But now we had taken it over, and more properly from the view of etymology; since we were proponents of individual liberty and therefore of the individual's right to his property.