This volume is an essay on the rise and fall of societies in general. Includes economics, war, social services, competition, trade, reform, corruption and much more.

It describes in detail the difference between the "State" and "Society" and highlights issues current to this day, such as high tax, high spend and loss of freedom. The book illustrates the formation of a society, its government, and the eventual dismantling of society by governing political bodies.

Rothbard wrote of this book: "Frank's final flowering was his last ideological testament, the brilliantly written The Rise and Fall of Society..."