What is the Mises Institute?

The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard. Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.

The 2024 Presidential election appears to be a showdown between two major party candidates vying to display the most evident lack of understanding of economics. On one hand, Donald Trump advocates for hyper-protectionism and even entertains the idea of reverting to mercantilism, in addition to proposing that the President should have influence over setting interest rates at the Federal Reserve. Despite the glaring absurdity of the latter proposal, it does carry appeal with some in the accelerationist camp as it would make glaringly evident the collusion between the Federal Reserve Board and the executive and legislative branches. This could potentially agitate the public enough to demand reform of the system, although my own confidence in the American electorate’s willingness—or

Since Adam Smith, economic thinkers have failed to understand that profits in a market economy are not extractions of wealth from laborers. In truth, profits lead to higher wages and higher living standards for those workers.
Original Article: The War on Producers and Entrepreneurs Is Based on False Notions of Profits

The war on the producer is raging on, and the assault on free enterprise and the entrepreneur is hitting an all-time high. Whether it be politicians, academics, or the mainstream media, there’s a relentless effort to paint those who create wealth and prosperity as villains who do nothing but exploit the masses.
This is not just a misguided moral crusade, but it also amounts to an egregious intellectual fraud as it completely ignores fundamental principles of economics and the basic human desire to succeed. It is time to stand up and push back hard against this narrative for the sake of our future as a civilization.
Simply put, producers are the backbone of any economy. Without them, there would be no wealth, no innovation, and no progress. The producer takes risks, invests time and