Dr. Jeffrey Herbener explains why “Crusoe economics” isn’t a caricature but the indispensable starting point for economics and liberty—built from action, property, and exchange.

Time is central to economic coordination and prosperity.

Price theory is the cornerstone of the foundation of economic calculation.

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.

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.

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.

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.

Grove City College will host the Austrian Student Scholars Conference on February 16-17, 2024. Open to undergraduates and graduate students in any academic discipline, the ASSC will bring together students from colleges and universities across the country and around the world to present their own research papers written in the tradition of Austrian School intellectuals such as Ludwig von Mises, F.A. Hayek, Murray Rothbard, and Hans Sennholz. Accepted papers will be presented in a regular conference format to an audience of students and faculty. This year, keynote lectures will be delivered by Dr. Sandra Klein and Dr. Peter Klein.
Cash prizes of $1,500, $1,000, and $500 will be awarded for the top three papers, respectively, judged by a select panel of Grove City College faculty. Hotel

Recorded at the Mises Institute Supporters Summit in Auburn, Alabama, 12-14 October 2023.
Sponsored by Paul Dietrich.
Download the slides from this lecture at Mises.org/SS23_PPT_17

Why This Time the Dollar Faltered Has Been Different from the Last Time | Jeffrey Herbener

Video of Why This Time the Dollar Faltered Has Been Different from the Last Time | Jeffrey Herbener

Time is an irreversible flux. Each moment has a unique place in the sequence of moments of time with respect to action.
Download lecture slides at Mises.org/MU23_PPT_11.
Recorded at the Mises Institute in Auburn, Alabama, on 25 July 2023.

The Theory of Interest | Jeffrey M. Herbener

Video of The Theory of Interest | Jeffrey M. Herbener

This concept of economic calculation is really the foundation of all economic theory, and price theory is the cornerstone of economic calculation.
Download lectures slides at Mises.org/MU23_PPT_04.
Recorded at the Mises Institute in Auburn, Alabama, on 24 July 2022.

In 1943, John Maynard Keynes claimed that central-bank credit expansion performs the "miracle of turning a stone into bread." In its attempt to revive itself after a long recession, the Japanese government and central bank have given the world its last twentieth-century Keynesian experiment. It is an experiment that has failed, and miserably so.