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Rothbard details the evolution of the "right wing". The "Old Right", being opposed to militarism and centralization, underwent a transformation beginning in the early 1950's. Rather, not so much a transformation as marginalization. Using the Cold War and anti-Communist sentiment as their rallying cry, the "New Right" silenced the "Old" and in the name of liberty, individualism and peace, replaced all three with an implicit position of centralization and militarism.
Also, for fans of Rothbard, this book gives the reader an insight into his life and intellectual development that can be found in none of his other works.
Libertarians should read this book to understand recent developments in their political genealogy. Others seeking to understand the Libertarian position would do well to wrestle with a history of modern American politics from the perspective of one of the foremost libertarian minds of the 20th century.