What branch of capitalism was founded by the author of The Mystery of Banking?
The Mystery of Banking The Mystery of Banking is Murray Rothbard's 1983 book explaining the modern fractional-reserve banking system and its origins. In his June 2008 preface to the 298-page second edition, Douglas E. French suggests the work also lays out the “...devastating effects [of fractional-reserve banking] on the lives of every man, woman, and child.”
Commanding heights of the economy Commanding heights of the economy refers to existing private industry critical to the economy like large banks, insurance firms and mines. This phrase emerged from a branch of modern political philosophy concerned with organizing society, and can be traced back to Karl Marx's idea on socialism, which stresses the commanding heights and advocates for government control of it. This should not be confused with social democracy or complete socialism.