Meaning: The quote "There is one good thing about Marx: he was not a Keynesian" by Murray Rothbard, an economist and influential figure in the Austrian School of economics, reflects a critical perspective on the economic theories of Karl Marx and John Maynard Keynes. In order to understand the significance of this quote, it is essential to delve into the economic theories of Marx and Keynes, as well as the perspectives of Rothbard and the Austrian School of economics.

Karl Marx, a 19th-century philosopher, economist, and revolutionary socialist, is best known for his theories on capitalism, socialism, and communism. Marx's analysis of capitalism emphasized the exploitation of the working class by the capitalist class, and he advocated for the overthrow of the capitalist system in favor of a classless society. His ideas laid the foundation for modern socialist and communist movements and continue to be influential in political and economic discourse.

On the other hand, John Maynard Keynes, a prominent economist of the 20th century, is best known for his theories on macroeconomics and government intervention in the economy. Keynesian economics emphasizes the role of aggregate demand in driving economic activity and argues that government policies, such as fiscal and monetary measures, can be used to stabilize the economy and promote full employment. Keynesian economics has had a significant impact on economic policy-making, particularly in the aftermath of the Great Depression and during periods of economic downturn.

Murray Rothbard, an economist associated with the Austrian School of economics, was a vocal critic of both Marxian and Keynesian economic theories. The Austrian School of economics is known for its emphasis on free markets, individual liberty, and the subjective nature of economic value. Rothbard's quote can be interpreted as a reflection of the Austrian School's skepticism towards government intervention in the economy, as advocated by Keynesian economics, as well as its rejection of Marxian ideas of class struggle and socialist revolution.

Rothbard's statement suggests that, despite his many criticisms of Marx, there is at least one aspect of Marx's ideas that can be appreciated from the perspective of the Austrian School. This perspective may stem from the Austrian School's opposition to government intervention and central planning, which are central tenets of Keynesian economics but are also rejected by Marx in his vision of a stateless, classless society. In this sense, Rothbard's comment can be seen as a reflection of the Austrian School's broader critique of both Marxist and Keynesian economic ideologies.

In conclusion, Murray Rothbard's quote "There is one good thing about Marx: he was not a Keynesian" encapsulates the critical perspective of the Austrian School of economics towards both Marxian and Keynesian economic theories. By highlighting the divergence between Marx's vision of a classless society and Keynes's advocacy for government intervention, Rothbard's quote sheds light on the complex and multifaceted debates within economic thought. It serves as a reminder of the enduring influence of these economic theories and the ongoing relevance of these discussions in contemporary economic and political discourse.