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The Letter Warren Buffett’s Dad Wrote to Murray Rothbard

Most people don’t know that Warren Buffett’s father was Howard Buffett, a laissez-faire, sound-money United States congressman from Nebraska. 

His views on the economy couldn’t have been farther removed from what his son’s would one day be. 

He didn’t yet know that, though, when he wrote to Mr. Libertarian, Murray Rothbard, asking how he might get his son a copy of Rothbard’s book The Panic of 1819. “I have a son who is a particularly avid reader of books about panics and similar phenomena,” he said. 

Buffett also said he was reading through Man, Economy, and State, Rothbard’s thousand-page treatise (originally published in two volumes), and asked how he might assist in getting wider circulation for those volumes. 

Unfortunately, the apple fell far from the tree. 

Buffett’s son proved to be a great investor, but a very poor economist. 

When you find an investor who also really understands the economy, as opposed to repeating standard platitudes about the Federal Reserve, fiscal stimulus, and the whole kit and kaboodle of fashionable opinion, you’ve really got something. 

I’ve found you some. 

How people succeeded, and then what they did to keep and grow their dough, is something most people don’t know a thing about.

An outstanding documentary miniseries called Money Revealed, featuring great and successful libertarians like Whole Foods CEO John Mackey, former Overstock CEO Patrick Byrne, and Rich Dad, Poor Dad author Robert Kiyosaki, is just about to be released, fully updated for 2020.

Each of these people explains how they succeeded — and then, once they succeeded, how they invested the money they made.

Last year my listeners raved about this series.

It’ll be available to be viewed for free for just the limited launch period, and only to people who register in advance. After that you’ll have to pay. So do the smart thing and register now:

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About The Author

Tom Woods

Thomas E. Woods, Jr., is the 2019 winner of the Hayek Lifetime Achievement Award from the Austrian Economics Center in Vienna. He is a senior fellow of the Mises Institute and host of The Tom Woods Show, which releases a new episode every weekday. Visit

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