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Leading the boom of 1838 were state governments, who, finding themselves with the unexpected windfall of a distributed surplus from the federal government, proceeded to spend the money wildly and borrow even more extravagantly on public works and other uneconomic forms of 'investment.'
Murray Rothbard
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"Leading the boom of 1838 were state governments, who, finding themselves with the unexpected windfall of a distributed surplus from the federal government, proceeded to spend the money wildly and borrow even more extravagantly on public works and other uneconomic forms of 'investment.'"
— Murray Rothbard #moneywealth #politicsgovernment

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Leading the boom of 1838 were state governments, who, finding themselves with the unexpected windfall of a distributed surplus from the federal government, proceeded to spend the money wildly and borrow even more extravagantly on public works and other uneconomic forms of 'investment.' — Murray Rothbard

About Murray Rothbard

Murray Rothbard was a Economist from United States (1926–1995).

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Frequently Asked Questions

Who said "Leading the boom of 1838 were state governments, who, finding themselves with t…"?
This quote is attributed to Murray Rothbard, a Economist from United States.
When did Murray Rothbard live?
Murray Rothbard lived from 1926 – 1995.
What is this quote about?
This quote touches on Money & Wealth, Politics & Government. Browse more quotes on these themes from the categories page.