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.

Another national election has come and gone, and like many of our readers, I think the less awful candidate won. After all, a victory for Kamala Harris was likely to be interpreted as an endorsement of the status quo and a “mandate” for more of the same.Unfortunately, though, opposition to the status quo is not the same thing as support for peace, freedom, or free markets. Dissatisfaction with the regime is good, but it’s not enough. We will see this illustrated many times over in the coming years as the new administration fails to significantly rein in federal spending or to embrace a foreign policy of nonintervention. The foundational institutions of the federal state will likely remain untouched.We will see this illustrated many times over in the coming years as the new

All States Are Empires of Economic Lies—Tom DiLorenzoI’m going to start out by expressing my agreement with Doug Casey, who wrote about the economics profession of today. Most economists are political apologists masquerading as economists. They tailor theories to help politicians demonstrate the virtue and necessity of their quest for more power.This has been going on for a long time. Here’s the founding document of the American Economic Association from the 1880s. It said this: “The state is an educational and ethical agency whose positive aid is an indispensable condition of human progress.”It also said this: “The doctrine of laissez-faire is unsafe in politics and unsound in morals.” Then it also mentions a Marxian class conflict being a big issue of the day, and that economists need to

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. 

If there’s one thing the mainstream hates, it’s for you to learn anything that goes against the official version of history:World War II spending ended the Great Depression. The US was founded as a democracy.

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.

Dr. Gary Schlarbaum, one of our generous supporters, has again offered to match donations received through December 9. That means your $10 donation becomes $20, your $25 donation becomes $50, and so on. For the last ten years, Gary has kickstarted our year-end campaign with his matching gift. He’s ready to match your gift today!With a donation of $25 or more, you’ll receive a copy of Tom DiLorenzo‘s newest booklet, The Axis of Evil: America’s Three Worst Presidents. And, thanks to Gary, your donation doubles. Please donate today.Your gift allows the Mises Institute, in this critical moment, to carry on publishing our books and videos, aiding scholars and teachers of Austrian economics; promoting the Austrian School to the public, and training tomorrow’s champions of the

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.

Students apply hereIn January 2025, the Mises Institute will hold its next Mises Book Club, a program that promotes deep reading in Austrian economics.The reading for this book club will be The Great Austrian Economists, edited by Randall Holcombe.Each chapter discusses an important Austrian economist (and some proto-Austrians like Richard Cantillon and Frédéric Bastiat). The contributors are all eminent Austrian economist, including Jesús Huerta de Soto, Mark Thornton, Thomas DiLorenzo, Joseph Salerno, Jeffrey Herbener, Peter Klein, Shawn Ritenour, and Hans-Hermann Hoppe.This is an excellent introductory book for students interested in Austrian economics and the history of economic thought. Not only do you learn about the lives of these great thinkers, but you also trace the development

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.

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.

A notice from Steve Trost, Director Institute for the Study of Free Enterprise at Oklahoma State University:(Note that the deadline for applications is this Saturday (10/19) at 8p CDT.)Greetings Mises Fellows & Senior Fellows, and Associated Scholars!Mark Packard (Florida Atlantic Univ.) and I have been organizing a Theory Development Workshop (TDW) that will take place November 7 & 8 in Stillwater, OK.  The workshop will be led by Mark Packard, Jeff McMullen, and Per Bylund.We have titled the workshop Exploring & Developing New Theoretical Approaches to Market-Based Management & Entrepreneurship.It would be great to have a significant portion of the participants be those specializing in theory development from an Austrian perspective.  All three of the TDW’s co-leaders are Austrian

Save the date! Join the Mises Institute for Supporters Summit 2025 in Delray Beach, Florida, October 16-18, 2025. We’ll meet at the Opal Grand Resort, 10 N Ocean Blvd, Delray Beach.Speakers, agenda and details forthcoming.

Publicity Waiver: Registering for this event gives the Mises Institute permission to take photos, record videos, and receive statements of and from attendees for promotional purposes. By this authorization, attendees understand and agree that no participant shall receive remuneration and that all rights, title and interest to the photos, videos, and statements and use thereof belong to the Mises Institute.

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.

This fall, students from across the US are participating in reading groups led by scholars at various universities and colleges. These student groups promote deep reading and discussion of works in Austrian economics and libertarian political philosophy.

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.

Who are they? People just like you. People who happen to care deeply about human liberty and human flourishing. People who care about real economics. People who oppose state power, central banks, and war. People who care about truth and honest history.They come from all walks of life. Some give $20, some give more. But they are all people like you, people who understand the threat statism poses to our world.The Mises Institute is not funded by government grants or wealthy foundations with agendas. That’s why we need you.The Institute is unique. We attack the state, the political class, and their crony clients—without exception and without apology. We win new hearts and minds, year after year. We reach more people than some DC organizations with ten times our budget.When

The Mises Institute champions sound economics, individual freedom, and peace. It does so through the promotion, distribution, and extension of the monumental work of economists Ludwig von Mises, Murray Rothbard, and Henry Hazlitt, and other advocates of the free market.Likewise, because of these commitments, the Mises Institute promotes industrious production, peaceful social cooperation, and voluntary exchange.The Mises Institute is proud to produce and distribute all kinds of educational materials—student programs, popular articles, podcasts, new animated videos, and ebooks—in its mission to carry on the research tradition of Austrian economics and provide a forum for the next generation of Austrian scholars.Along with Murray Rothbard, and unlike the socialists and interventionists, we

My Gift is Doubled Today. I Want to Donate!The intellectual achievements of Ludwig von Mises make him one of the greatest minds in human history. His contributions to Austrian economics inspired new generations of scholars, from Murray Rothbard and F.A. Hayek to current leaders like Joe Salerno, Ron Paul, Patrick Newman, and Tom Woods. He is the most powerful intellectual opponent to socialism the world has ever known, and his work on money and credit remains essential to understanding the corruption of the modern economy. Thanks to our generous donors, the Mises Institute continues to publish his great works, inspiring generations of freedom champions around the world, from the United States to China, from Eastern Europe to South

My Gift is Doubled Today. I Want to Donate!The Mises Institute sends a big THANK YOU to everyone who already donated to our Fall Campaign this week. Your support helps us continue to make the sound economic principles of Mises, Rothbard, Hazlitt, and Hayek free to the world at a time when they are needed more than ever.If you haven’t had time to donate, please do so today. Hunter Lewis, a generous donor and author of numerous books, is passionate about educating a future generation of students and has generously offered to match your gift for the next 36 hours. So double your impact by making your most generous gift today.Any amount—even $5—helps. And just a $5 monthly gift entitles you to all the benefits of a Friend

The mission of the Mises Institute is simple. We want to spread the ideas of Ludwig von Mises and the scholars he inspired. Ideas that are vital for a free and prosperous civilization.We do this through our student programs, our popular articles, our podcasts, our vast library of free downloadable books, and our animated videos for beginners.

The mission of the Mises Institute is simple. We want to spread the ideas of Ludwig von Mises and the scholars he inspired. Ideas that are vital for a free and prosperous civilization.We do this through our student programs, our popular articles, our podcasts, our vast library of free downloadable books, and our animated videos for beginners.

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.

View last year’s event schedule  The Mises U ReaderMises U is open only to scholarship students and invited donors. If you have any questions, please contact Felicia Jones ([email protected]). Austrian EconomicsRooted in the tradition of Carl Menger and Ludwig von Mises, as well as Murray Rothbard and F.A. Hayek, the Austrian school offers a rigorous and logical approach to economics that gives free markets their due and takes full account of the reality of human choice. More than a field within economics, the Austrian school is an entirely different approach that dissents from the mainstream on method, theory, and policy. It views economic actors as unique, conscious, and freely choosing individuals, not as undifferentiated data to be manipulated mathematically or politically. The

Dear Friend,It is a very proud moment when we see one of our students fly. Patrick Newman first came to the Mises Institute in 2011 as a Mises University student. He returned as a graduate student for Rothbard Graduate Seminar, and then as a Fellow. We’ve watched him build his academic career, authoring books and mentoring his own students.In 2021, Patrick published Cronyism: Liberty versus Power in Early America, 1607–1849, which received great acclaim. James Grant wrote about the book, “Government by its friends and for its friends is not how the American story is ordinarily framed, but Patrick Newman’s deeply informed history of governmental favoritism in the early Republic may prompt a reconsideration. The late, great Murray Rothbard read history in terms of the conflict between power

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.

Many millions of Americans fall for the government propaganda that uses wars as excuses to eviscerate American freedoms, spend trillions of dollars and rack up gargantuan deficits that will impose a heavy financial burden for decades to come. In recent centuries, though, there have been many who were not quite so easily fooled. These were the defenders of liberty we now call “classical liberals” or “radical liberals” or “libertarians.” Indeed, the more radically these activists were opposed to state power, the more radically they opposed militarism and war. They understood, decades before Randolph Bourne coined the phrase “war is the health of the state,” that war is among every regime’s favorite tool in growing state power and destroying freedom.For the radical liberals of

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.

Students apply here for an attendance scholarship.The state has a stranglehold on education. From kindergarten to post-graduate programs in public institutions, students are indoctrinated with state narratives wokeism, and the virtues of economic interventionism. Some conservative governors are battling the progressive leftists’ takeover of the education system by banning DEI programs, altering curricula, and appointing new college presidents and trustees. Moreover, homeschooling has skyrocketed in popularity as concerned parents follow Murray Rothbard’s advice in Education: Free and Compulsory: “For anyone who is interested in the dignity of human life, in the progress and development of the individual in a free society, the choice between parental and State control over the children is

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.

Dr. Jonathan Newman and Connor O’Keeffe will host an in-person book club on Murray Rothbard’s The Betrayal of the American Right for Auburn University students. The meetings will be held weekly on Tuesday evenings at the Mises Institute (518 W. Magnolia Ave.), starting September 17th. In The Betrayal of the American Right, Rothbard recounts the history of the laissez-faire, non-interventionist Old Right and how it came into conflict with other factions throughout the 20th century, including the statist, war-hungry New Rightists at the National Review. Rothbard’s book is especially relevant today as many leading “America First” Republicans have embraced views that more closely align with the Old Right. Each student will receive a complimentary copy of the book.Please apply

With your support, the Mises Institute can send Mises University students home with a stack of Austrian classics such as “Human Action”; “Man, Economy, and State”; and “The Case for Gold” (see full list at the bottom of this email). After a week of destroying every preconceived, state-curriculum notion of how the world works, Mises U grads will have another month before returning to college in the fall. Our graduates can continue to dive into their Austrian education before sitting in classrooms where democratic socialist ideas are the norm and universal basic income is the hottest policy trend. We’re asking everyone who wishes Mises University had been available in their college days to help build Mises U graduates’ libraries.Mises U is the full package: the highly

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.

“Truth is the first casualty of war.” This saying is said to have its origins in ancient Greece, in the writings of the playwright Aeschylus. Thus, for thousands of years it has been recognized that most wars are wars of conquest through mass murder, plunder, and destruction. For the ruling classes, war is an opportunity. For the citizens, war means death or crippling injury, taxes, debt, sacrifice, and loss of freedoms. Hence the need for mountains of lies.“[O]f course the people don’t want war,” the notorious Hermann Goring declared during the Nuremberg trials. “All you have to do,” he continued, “is tell them they are being attacked, and denounce the peacemakers for lack of patriotism…. It works the same way in any country.”Goring was right. And in most cases the very same people who

Lew Rockwell has dedicated his life to spreading the ideas of the Austrian School. Today, we honor Lew on his birthday, and it’s only fitting we release the trailer for our new documentary, Playing with Fire: Money, Banking, and the Federal Reserve. With your help, we will release it to the public right before the election.Over forty years ago, Lew visited with Margit von Mises at the Russian Tea Room in New York City with a vision: an institute dedicated to keeping alive the legacy of her husband, Ludwig. With her blessing and the financial support of passionate believers in Mises’s work, the Mises Institute was born.Since then, Lew has dedicated his life to this calling, knowing that civilization depends upon it.This week, we are celebrating Lew Rockwell’s birthday by asking for your

Ludwig von Mises’s life was dedicated to intellectually combating the evils of socialism, interventionism, inflationism, and tyranny. He recognized that it would always be an uphill battle. Easy money creates artificial good times that empower and enrich the political class; cleaning up the mess after that is difficult.The only solution is for the public to understand the game, to be empowered to see past the cheap political rhetoric, and to identify the powerful actors who are ripping them off. That has been the driving mission of this documentary, Playing with Fire: Money, Banking, and the Federal Reserve. We have brought in some of our greatest advocates; what we need now is you.Your support will help us complete this film and distribute it for free on platforms like

For many years, the relationship between interest rates and economic growth has been a major focus of economic theory and policy discussions. According to Austrian theory, interest rates are an important signal in a market economy that balances the time preferences of borrowers and savers, not only a tool that central banks can manage in an effort to maintain economic stability. Severe economic distortions and malinvestments may result from misinterpreting or ignoring this indication.The Nature of Interest RatesInterest rates naturally arise from the interaction of individual time preferences, according to Austrian economics. The degree to which people favor current things over future commodities is referred to as time preference. Greater readiness to postpone consumption and save for the

The FDIC added 11 new banks to its Problem List in the first quarter of 2024, bringing the total to 63. The specific banks on this are kept confidential, but the endemic, underlying issues in the commercial banking sector are increasingly obvious.Interest Rate Risk and LiquidityThe FIDC reported that “Unrealized losses on securities totaled $516.5 billion in the first quarter, an increase of $38.9 billion (8.2 percent) from fourth quarter 2023.

This article appears as a full-page ad in the Wall Street Journal today, June 24, 2024, and was made possible by one of our generous donors:Perhaps nothing in financial news receives more attention than an announcement from the Federal Reserve. About eight times per year, the Federal Reserve’s Federal Open Market Committee meets to formally decide and announce its plans for monetary policy. Every announcement has the potential to cause a rally, or a rout, in financial markets. It makes sense that a mere announcement from the Fed has the power to move markets in a big way. The Fed wields vast power over interest rates, bank regulation, and the money supply. When it comes to policies that affect the everyday lives of nearly every American—and even countless people outside the United

Mises is on the march, and the elites are terrified.For decades, the most powerful institutions, from academia to the corporate press, have made a concerted effort to marginalize the wisdom of Austrian economics. Their control is breaking. From Tucker Carlson to UFC, the name Ludwig von Mises has reached the masses in ways he could have never imagined.Now, we’re looking to take it to the next level.We are releasing our newest documentary, exposing how the Federal Reserve is ripping off the public and enriching the parasitic elite. This documentary isn’t just for supporters of the Mises Institute. It is for the masses, made ready to stream to anyone with access to Amazon Prime or YouTube.We already have the support of some of the Fed’s greatest critics: Ron Paul and Jim

2024 marks the fourth class of the Ron Paul Scholars Seminar. If you are a student interested in peace and prosperity, a non-interventionist foreign policy, the Liberty movement, and in making contacts in your peer group who are not stuck in the mental prison of our political duopoly, please consider applying to be a 2024 Ron Paul Scholar. This year’s event will take place on Friday, August 30.The Ron Paul Scholars Seminar is a one-day, interactive foreign policy and civil liberties “boot camp,” with lectures from some of the most thoughtful pro-liberty/pro-peace experts. Past lecturers include US Rep. Thomas Massie, former CIA officer Phil Giraldi, former US Diplomat and Senate Staff Member James Jatras, Future of Freedom Foundation founder Jacob Hornberger, bestselling author James

In September 2024, undergraduate students will have an opportunity to participate in the Fall Mises Book Club, a program that promotes deep reading in Austrian economics.The reading for this book club will be Murray Rothbard’s Egalitarianism as a Revolt Against Nature and Other Essays.

Mises is on the march, and the elites are terrified.For decades, the most powerful institutions, from academia to the corporate press, have made a concerted effort to marginalize the wisdom of Austrian economics. Their control is breaking. From Tucker Carlson to UFC, the name Ludwig von Mises has reached the masses in ways he could have never imagined.Now, we’re looking to take it to the next level.We are releasing our newest documentary, exposing how the Federal Reserve is ripping off the public and enriching the parasitic elite. This documentary isn’t just for supporters of the Mises Institute. It is for the masses, made ready to stream to anyone with access to Amazon Prime or YouTube.We already have the support of some of the Fed’s greatest critics: Ron Paul, Jim Grant,

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.

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.

When Ron Paul arrived at the University of Michigan during his 2012 presidential campaign, students spontaneously began chanting “End the Fed!” It was clear to Ron that many students had already gotten the message that the Fed and its machinations are the enemy. Students often say one of the most influential books they have read is Murray Rothbard’s What Has Government Done to Our Money? First published in 1963, it has been influential for several generations now and has earned the honor of being a classic.Several years ago, we printed 100,000 copies of Henry Hazlitt’s Economics in One Lesson, another influential classic. Our goal was to give away those copies to students, homeschoolers, teachers, businesspeople, church groups, book clubs, professionals, offices, libraries,

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.

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.

Please consider helping us publish these three new books: The World at War, Full Reserve Banking vs. Real Bills Doctrine, and Austrian Business Cycle Theory: an Introduction. The World at Warby Ralph Raicoedited by Edward FullerTo understand war, you also have to understand economics. Ralph Raico’s lecture “The World at War” is a masterpiece. Recorded in 1983, it remains perhaps the best introduction to the classical-liberal interpretation of the two world wars of the twentieth century. Raico touched on many of the topics he discussed in this lecture in his other writings, but he never wove them all together as concisely as he does here. Raico’s interpretation and insights into the causes of perpetual war are much needed today in light of the war-hungry, interventionist politicians that

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.

Listed and linked below are the readings that all students must complete before attending RGS. 

Listed and linked below are the readings that all students must complete before attending RGS. All materials are available on Mises.org free of charge, and most readings are available in multiple formats (e.g., PDF, ePub, HTML, audio). Complimentary physical copies of the readings will be available to attendees upon arrival at RGS. Physical copies can be mailed in advance to U.S. addresses upon request by emailing [email protected] ReadingsHuman Action: Scholar’s Edition Recommended ResourcesHuman Action Study GuideAudio:  Mises Weekend: Yes, You Should Read Human Action (Jeff Deist, Joseph Salerno, and Karl-Friedrich Israel)ScheduleThe conference begins with dinner and opening remarks, Sunday, June 9, at 6:00 p.m. Central Daylight Time, and ends with dinner

In June 2024, the Mises Institute will hold its next Mises Book Club, a program that promotes deep reading in Austrian economics.The reading for this book club will be one of Ludwig von Mises’s most popular works: Economic Policy: Thoughts for Today and Tomorrow. This year marks the 45th anniversary of its publication.This work is one of the best introductions to the ideas of Ludwig von Mises. It is based on six lectures he gave in 1959, covering a wide array of economic topics. According to Margit von Mises, who attended the lectures and edited the transcriptions for publication, he “spoke without any restraint about capitalism, socialism, interventionism, communism, fascism, economic policy and the dangers of dictatorship. These young people, who listened to my husband, did not know much

Dr. Paul is right! People need to look at the money issue. Wars, spending, debt accumulation, subsidies, and foreign aid are intimately linked to the money machine known as the Federal Reserve.Central banks have two main purposes: inflate the money supply and bail out the big financial firms. By inflating the money supply, governments can finance their operations cheaply and surreptitiously at our expense. If we wish to expose the state and all its evils, we must point to the source, the Federal Reserve.This is why we are making our new Federal Reserve documentary. The Fed has created its own narrative for far too long. Now we’re telling people the truth.Production is going great. Our first interview was with the great Ron Paul in Texas. Next week, the crew is off to New

The Mises Institute will host a one-day Libertarian Scholars Conference on March 20, 2025 in Auburn, Alabama. The first Libertarian Scholars Conference was held in New York City in 1972 under the aegis of the Center for Libertarian Studies. The conference was held annually (except for 1973) throughout the 1970s in New York or Princeton, New Jersey (1977, 1978), with the 8th and last “national” conference taking place at the Hotel Diplomat in New York. In the early 1980s regional Libertarian Scholars Conferences were held in Chicago and other cities. The conferences featured papers by the founding fathers of modern libertarian scholarship, including Murray Rothbard, Leonard Liggio, Walter Block, Ralph Raico, Ron Hamowy, Roy Childs and Walter Grinder. Other prominent scholars who presented

The Austrian Economics Research Conference is the international, interdisciplinary meeting of the Austrian school, bringing together leading scholars doing research in this vibrant and influential intellectual tradition. The conference is hosted by the Mises Institute at its campus in Auburn, Alabama, and is directed by Joseph Salerno, academic vice president of the Mises Institute and professor emeritus of economics at Pace University.The conference begins on Thursday, March 20, at the Auburn University Hotel with an informal welcome session from 5:30 – 7:30 p.m. central time. This welcome session is limited to paid event attendees and presenters. Only registered attendees are permitted at the conference. No children under 16 years old are allowed. Registration takes place throughout the

Video: Mises Institute Senior Fellow Alex Pollock moderates a panel discussion on Lawrence White’s new book Better Money: Gold, Fiat, Or Bitcoin?. The event is sponsored by the Federalist Society.  White delves into the timely debate surrounding alternative currencies amidst the backdrop of constant inflation in the fiat currency world. Better Money explains and analyzes gold, fiat dollars, and Bitcoin standards to evaluate their relative merits and capabilities as currencies. It addresses common misunderstandings of the gold standard and Bitcoin, and scrutinizes the evolution of currency, particularly the interplay between market and government roles. White provides provocative analysis of which standard might ultimately provide better money, and argues that we need a

Students apply for a scholarship here.
"Once in a great while, a book appears that both embodies and dramatically extends centuries of accumulated wisdom in a particular discipline, and, at the same time, radically challenges the intellectual and political consensus of the day. Human Action by Ludwig von Mises is such a book, and more: a comprehensive treatise on economic science that would lay the foundation for a massive shift in intellectual opinion that is still working itself out fifty years after publication."
So begins the introduction to the 1998 scholar’s edition of Mises’s Human Action, written by Jeffrey Herbener, Hans-Hermann Hoppe, and Joseph Salerno. These words still ring true today.
We are excited to invite you to join us at the Mises Institute in Auburn, Alabama, for our

The Austrian Economics Research Conference is the international, interdisciplinary meeting of the Austrian school, bringing together leading scholars doing research in this vibrant and influential intellectual tradition. 2024 marks the 50th anniversary of the South Royalton Austrian Economics Conference.

Students apply for a scholarship here.
"Once in a great while, a book appears that both embodies and dramatically extends centuries of accumulated wisdom in a particular discipline, and, at the same time, radically challenges the intellectual and political consensus of the day. Human Action by Ludwig von Mises is such a book, and more: a comprehensive treatise on economic science that would lay the foundation for a massive shift in intellectual opinion that is still working itself out fifty years after publication."
So begins the introduction to the 1998 scholar’s edition of Mises’s Human Action, written by Jeffrey Herbener, Hans-Hermann Hoppe, and Joseph Salerno. These words still ring true today.
We are excited to invite you to join us at the Mises Institute in Auburn, Alabama, for our

YOUR GIFT WILL HELP US DO MORE IN 2024.
With your gift of $25 or more, you will receive a copy of Joe Salerno’s The Progressive Road to Socialism.
Recurring donors of $10 who give $100 will also receive a copy of The Progressive Road to Socialism and renew their Membership through 2024.
DONATE TODAY!

YOUR GIFT WILL HELP US DO MORE IN 2024.
With your gift of $25 or more, you will receive a copy of Joe Salerno’s The Progressive Road to Socialism.
Recurring donors of $10 who give $100 will also receive a copy of The Progressive Road to Socialism and renew their Membership through 2024.
Donate today!

Government-Managed Digital Currency: A Further Threat to Our Freedom
by Paul Gottfried
Whatever the modern self-described liberal democratic administrative state claims to be doing in the name of disadvantaged people is intended primarily and perhaps exclusively to increase government control. Further, whenever the same regime purports to be making our lives more comfortable, more agreeable, we may assume that our freedom and property rights are under assault.
Therefore, when I read about an executive order issued by the Biden administration last year regarding a plan for digital currency, I naturally suspected something quite dire.
The attempt to present central bank digital currencies (CBDC) as a courtesy that the state will be providing grateful citizens is patent nonsense. The

It’s that time again! Join or renew your 2024 Membership with the Mises Institute and be part of a community that champions Austrian economics, freedom, and peace.
Why Join? In a world facing economic challenges, the ideas of Ludwig von Mises have never been more vital. Help us lead the charge against statism in all its forms.
3 Member Benefits
The Misesian: Immerse yourself in our exclusive bimonthly publication, delivering insightful content straight to your mailbox.Free Audiobook Monthly: Expand your intellectual horizons with a complimentary audiobook every month.Mises Store Discount: Enjoy special savings as a token of our appreciation.Membership Levels
Sustaining Member: Dive deep into our cause for just $10 a month.Standard Membership: Only $100 for your 2024 Membership.For more

There has been a radical change in the social and political landscape in this country, and any person who desires the victory of liberty and the defeat of Leviathan must adjust his strategy accordingly. New times require a rethinking of old and possibly obsolete strategies.–Murray N. Rothbard
Murray Rothbard wasn’t only a brilliant economist, historian, and political philosopher; he was a man driven to defend the cause of liberty against the authoritarian threats of his age. He frequently wrote on strategy, applying his keen intellect to unraveling the greatest dangers of the time.
In The Progressive Road to Socialism, Joseph Salerno builds upon Rothbard’s work to expose the threat of modern progressivism, which seeks “to combine socialism with the appealing virtues of ‘democracy’ and

Dr. Gary Schlarbaum, one of our generous supporters, has again offered to match donations received through December 11. That means your $10 donation becomes $20, your $25 donation becomes $50, and so on. For the last nine years, Gary has kickstarted our year-end campaign with his matching gift. He’s ready to match your gift today!
With a donation of $25 or more, you’ll receive a copy of Dr. Joseph Salerno’s The Progressive Road to Socialism. And, thanks to Gary, your donation doubles. Please donate today.
Your gift allows the Mises Institute, in this critical moment, to carry on publishing our books and videos; aiding research and teaching in Austrian economics; promoting the Austrian School to the public; and training tomorrow’s champions of economics of freedom.

We are the life-support

For Immediate Release
Auburn, Ala. – The Mises Institute announced that Thomas DiLorenzo has been named its next president, following approval by its Board of Directors.
DiLorenzo has a long and distinguished career as an academic economist, author, and speaker. He was Professor of Economics at Loyola University, Maryland, from 1992 to 2020. He served previously as the Probasco Chair of Free Enterprise at the University of Tennessee at Chattanooga, Assistant and Associate Professor of Economics at George Mason University, John M. Olin Visiting Professor of American Business at Washington University, St. Louis, and Assistant Professor of Economics at the State University of New York at Buffalo. A specialist in political economy, public choice economics, and economic history, his books

The Mises Institute sends a big THANK YOU to everyone who already donated to our Fall Campaign this week.
Your support helps us continue to make the sound economic principles of Mises, Rothbard, Hazlitt, and Hayek free to the world at a time when they are needed more than ever.
If you haven’t had time to donate, please do so today. Hunter Lewis, a generous donor and author of numerous books, is passionate about educating a future generation of students and has generously offered to match your gift until the end of the day. So double your impact by making your most generous gift today.
Any amount—even $5—helps. And just a $5 monthly gift entitles you to all the benefits of a Friend of the Institute in 2024.
Mises.org is one of the most popular economics resources in the world. Generous

Today marks the birthday of Ludwig von Mises, and day 5 of our annual Fall Campaign.
The intellectual achievements of Ludwig von Mises make him one of the greatest minds in human history. His contributions to Austrian economics inspired new generations of scholars, from Murray Rothbard and F.A. Hayek to current leaders like Joe Salerno, Ron Paul, and Patrick Newman. He is the most powerful intellectual opponent to socialism the world has ever known, and his work on money and credit remains essential to understanding the corruption of the modern economy. Thanks to our generous donors, the Mises Institute continues to publish his great works, inspiring generations of freedom champions around the world, from the United States to China, from Eastern Europe to South America.
Mises was not

Rothbard destroys the greatest myths of our time.
America has been captured by economic denialism. The political class has driven the debt to a point that was once thought unimaginable. Inflation continues to eat away at the paychecks of everyone. The weaponization of the dollar has driven other countries to seek to abandon it.
In 1984, Murray Rothbard wrote Ten Great Economic Myths, a succinct attack on the fallacies perpetrated by the politicization of the economy. The political agenda continues to seep into all facets of our lives and needs to be unmasked. With your donation today, you will receive a copy of this Rothbard classic.
The power of Ten Great Economic Myths is in its brevity. It is short and to the point. The timeless wisdom will sharpen the skills of the most veteran reader

The best people in the world support the Mises Institute. Will you join them?
Who are they? People just like you. People who happen to care deeply about human liberty and human flourishing. People who care about real economics. People who oppose state power, central banks, and war. People who care about truth and honest history.
They come from all walks of life. Some give $20, some give more. But they are all people like you, people who understand the threat statism poses to our world.
The Mises Institute is not funded by government grants or wealthy foundations with agendas. That’s why we need you.
The Institute is unique. We attack the state, the political class, and their crony clients—without exception and without apology. We win new hearts and minds, year after year. We reach more

Thanks to all of our generous donors who are participating in our 2023 Fall Campaign. Your continued support is vital and much appreciated. Donors are added daily.
Won’t you join them?

Monday, September 25
Abdelhamid Abdou Adam BattlesAdam DengAlan ZibelmanAndreas HübnerAnonymousAndrew WindsorArthur KnolleAnonymousBarb WhitemanBridget SantosCarl ChambersCarlos Aixerch MateuCharles CrawleyCharles DemastusChris Lingwall, In honor of Milton Friedman and Thomas Sowell who opened my eyes 50 years agoChris StriebeckChristopher SearsCristina FontaineDan ZipayDaniel Krivickas, In memory of True Liberty and Economic FreedomDarlene CorbettDave BennerDavid CardaronellaDavid NeilsonDavid ShaneDavid StefanDavide TafuriDione DurhamDon BellanteDonald SteeleDoug Hill, In honor of Ron PaulDouglas

The mission of the Mises Institute is simple. We want to spread the ideas of Ludwig von Mises and the scholars he inspired. Ideas that are vital for a free and prosperous civilization.
We do this through our student programs, our popular articles, our podcasts, one of the largest free economic libraries available online, and our new animated videos for beginners.
Online and in person, we attack the state, the political class, and their crony clients—without exception and without apology. We reach more people than some DC organizations with ten times our budget. Now our mission of education is more important than ever.
Unfortunately, just as Ludwig von Mises was attacked by the Left, the Right, and even his own fellow libertarians for his “intransigence” in defense of free markets, we are

Every day, Americans feel the political capture of the economy. Inflation, taxes, and regulatory costs hit our paychecks and savings. The regulatory capture of medical industries; food and energy production; and the various instruments of Big Tech empowers the regime with new tools to promote their latest ideological cause. The ever-growing burden of government debt has become a crisis without any political will to address it.
This November, the Mises Institute will be in Fort Myers, Florida, to cut through the campaign talking points and offer an uncompromising look at what is coming next. Speakers include Bob Murphy, Patrick Newman, Jonathan Newman, and Murray Sabrin. Join fellow travelers from around Florida and beyond for a dose of sanity before we hit the peak of the 2024 political

From war across the globe to regulating speech to printing trillions of dollars, the American regime accepts no limits on its power. As Ludwig von Mises understood, the state will take as much power as the people will let it, and in recent years the American regime has clearly concluded it can get away with unilaterally adopting vast new powers.
Join the Mises Institute in Nashville on September 23rd for an event inspired by this siege of power and one of Ron Paul’s favorite lines: truth is treason in the empire of lies.
We will be joined by a group of brave speakers who have dedicated their careers to rejecting the regime’s propaganda at personal cost: Ted Galen Carpenter, Michael Rectenwald, Karen Kwiatkowski, and Jonathan Newman. Carpenter will cover the national security state’s global

The tyrannical threat of the biomedical security state is ever present.
While those that cheered for lockdowns, vaccine mandates, and the shutdown of the global economy retreat to the back pages of the news, the World Health Organization and their ilk are already gearing up for the next crisis. The covid scare may have lost its political potency, but you can be sure that "public health emergencies" will continue to be a powerful tool for future control.
Join us for a Medical Freedom Summit featuring two brave leaders in the fight against medical tyranny.
Dr. Peter McCullough is one of the most respected truth tellers in the profession, making him a frequent target of censorship from regime-controlled traditional and social media. One of America’s most published cardiologists, Dr.

This year during Mises University, we want to share the perspective of students in the program. The following are YouTube shorts from some of this year’s Mises Apprentices, interviewing some of their favorite faculty members.

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Mises University is going on the entire week. You can watch live from home at mises.org/live.The Best Week of the Year is only possible due to the generosity of our incredible donors. Every donor this week who gives $100 or more today will receive this year’s awesome Mises U t-shirt! Go to Mises.org/MUnow to make your donation today.

This year during Mises University, we want to share the perspective of students in the program. The following are YouTube shorts from some of this year’s Mises Apprentices, sharing some of their favorite parts of the Mises Institute.

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Mises University is going on the entire week. You can watch live from home at mises.org/live.
The Best Week of the Year is only possible due to the generosity of our incredible donors. Every donor this week who gives $100 or more today will receive this year’s awesome Mises U t-shirt! Go to Mises.org/MUnow to make your donation today.

This year during Mises University, we want to share the perspective of students in the program. The following are YouTube shorts from some of this year’s Mises Apprentices, sharing some of their favorite parts of the Mises Institute.

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Mises University is going on the entire week. You can watch live from home at mises.org/live.
The Best Week of the Year is only possible due to the generosity of our incredible donors. Every donor this week who gives $100 or more today will receive this year’s awesome Mises U t-shirt! Go to Mises.org/MUnow to make your donation today.

This year during Mises University, we want to share the perspective of students in the program. The following are YouTube shorts from some of this ye ar’s Mises Apprentices asking fellow students about the highlights from Tuesday, which included an evening pool party.

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Mises University is going on the entire week. You can watch live from home at mises.org/live.
The Best Week of the Year is only possible due to the generosity of our incredible donors. Every donor this week who gives $100 or more today will receive this year’s awesome Mises U t-shirt! Go to Mises.org/MUnow to make your donation today.

This year during Mises University, we want to share the perspective of students in the program. The following are YouTube shorts from some of this year’s Mises Apprentices asking fellow students about the highlights from the first full day of Mises U.

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In this short, one of our Mises U students talks to Dr. Patrick Newman, a member of the faculty and a Mises U alum.[embedded content]
Mises University is going on the entire week. You can watch live from home at mises.org/live.
The Best Week of the Year is only possible due to the generosity of our incredible donors. Every donor this week who gives $100 or more today will receive this year’s awesome Mises U t-shirt! Go to Mises.org/MUnow to make your donation

This year during Mises University, we want to share the perspective of students in the program. The following are YouTube shorts from some of this year’s Mises Apprentices, explaining what excites them most about "the best week of the year." A common theme is the power of the ideas that have attracted students from around the world to Auburn this summer and the unique opportunity to learn from, discuss, and debate them with their colleagues and our distinguished faculty.

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Mises University is going on the entire week. You can watch live from home at mises.org/live.
The Best Week of the Year is only possible due to the generosity of our incredible donors. Every donor this week who gives $100 or more today will receive this year’s

Only two days left until Mises University begins! Our students have completed their required readings and have already started discussing Misesian utilitarianism, Rothbardian natural law, and Hoppean argumentation ethics in the Mises University private group chat. We can already tell how enthusiastic and smart these students are!
We have students from forty-seven colleges and universities at this year’s Mises University. Look and see if your alma mater is represented at "The Best Week of the Year!"
Mises University would not happen without our generous donors. There’s still time to support this year’s program. Thank you!

Angelo State UniversityAuburn UniversityBelmont Abbey CollegeBoise State UniversityBryan CollegeCasper CollegeChalmers University of TechnologyCoastal Alabama Community

Recorded by the Mises Institute in the mid-1980s, The Mises Report provided radio commentary from leading non-interventionists, economists, and political scientists. In this program, we present another part of "Ten Great Economic Myths". This material was prepared by Murray N. Rothbard.

The public memory is short. We forget that, from the beginning of the Industrial Revolution in the mid-18th century until the beginning of World War II, prices generally went down, year after year. That’s because continually increasing productivity and output of goods generated by free markets caused prices to fall. There was no depression, however, because costs fell along with selling prices. Usually, wage rates remained constant while the cost of living fell, so that "real" wages, or everyone’s

Recorded by the Mises Institute in the mid-1980s, The Mises Report provided radio commentary from leading non-interventionists, economists, and political scientists. In this program, we present another part of "Ten Great Economic Myths". This material was prepared by Murray N. Rothbard.

Every time someone calls for the government to abandon its inflationary policies, Establishment economists and politicians warn that the result can only be severe unemployment. We are trapped, therefore, into playing off inflation against high unemployment, and become persuaded that we must therefore accept some of both.
This doctrine is the fallback position for Keynesians. Originally, the Keynesians promised us that by manipulating and fine-tuning deficits and government spending, they could and

Recorded by the Mises Institute in the mid-1980s, The Mises Report provided radio commentary from leading non-interventionists, economists, and political scientists. In this program, we present another part of "Ten Great Economic Myths". This material was prepared by Murray N. Rothbard.

The problem of forecasting interest rates illustrates the pitfalls of forecasting in general. People are contrary cusses whose behavior, thank goodness, cannot be forecast precisely in advance. Their values, ideas, expectations, and knowledge change all the time, and change in an unpredictable manner. What economist, for example, could have forecast (or did forecast) the Cabbage Patch Kid craze of the Christmas season of 1983? Every economic quantity, every price, purchase, or income figure is the

Recorded by the Mises Institute in the mid-1980s, The Mises Report provided radio commentary from leading non-interventionists, economists, and political scientists. In this program, we present another part of "Ten Great Economic Myths". This material was prepared by Murray N. Rothbard.

The financial press now knows enough economics to watch weekly money supply figures like hawks; but they inevitably interpret these figures in a chaotic fashion. If the money supply rises, this is interpreted as lowering interest rates and inflationary; it is also interpreted, often in the very same article, as raising interest rates. And vice versa. If the Fed tightens the growth of money, it is interpreted as both raising interest rates and lowering them. Sometimes it seems that all Fed actions,

Recorded by the Mises Institute in the mid-1980s, The Mises Report provided radio commentary from leading non-interventionists, economists, and political scientists. In this program, we present another part of "Ten Great Economic Myths". This material was prepared by Murray N. Rothbard.

Those people who are properly worried about the deficit unfortunately offer an unacceptable solution: increasing taxes. Curing deficits by raising taxes is equivalent to curing someone’s bronchitis by shooting him. The "cure" is far worse than the disease.
For one reason, as many critics have pointed out, raising taxes simply gives the government more money, and so the politicians and bureaucrats are likely to react by raising expenditures still further. Parkinson said it all in his famous "Law":

Recorded by the Mises Institute in the mid-1980s, The Mises Report provided radio commentary from leading non-interventionists, economists, and political scientists. In this program, we present another part of "Ten Great Economic Myths". This material was prepared by Murray N. Rothbard.

In recent years there has been an understandable worry over the low rate of saving and investment in the United States. One worry is that the enormous federal deficits will divert savings to unproductive government spending and thereby crowd out productive investment, generating ever, greater long-run problems in advancing or even maintaining the living standards of the public.
Some policymakers have once again attempted to rebut this charge by statistics. In 1982–83, they declare, deficits were

Recorded by the Mises Institute in the mid-1980s, The Mises Report provided radio commentary from leading non-interventionists, economists, and political scientists. In this program, we present another part of "Ten Great Economic Myths". This material was prepared by Murray N. Rothbard.

In recent decades we always have had federal deficits. The invariable response of the party out of power, whichever it may be, is to denounce those deficits as being the cause of our chronic inflation. And the invariable response of whatever party is in power has been to claim that deficits have nothing to do with inflation. Both opposing statements are myths.
Deficits mean that the federal government is spending more than it is taking in in taxes. Those deficits can be financed in two ways. If

Recorded by the Mises Institute in the mid-1980s, The Mises Report provided radio commentary from leading non-interventionists, economists, and political scientists.

For more episodes, visit Mises.org/MisesReport.

"The foundation of any and every civilization, including our own, is private ownership of the means of production. Whoever wishes to criticize modern civilization, therefore, begins with private property." — Ludwig von Mises
Every day, more and more Americans are awakening to the reality that the institutions in control of this nation are failing them. From violence in the streets, inflation in our stores, increasing tyranny and censorship, and absolute buffoonery on public display in halls of political power. The ruling class is getting richer while most of us suffer, and new generations are becoming increasingly warped by the dangerous ideologies of the left.
Join the Mises Institute in Reno, Nevada, for an event dedicated to key issues of our time: Property, Civilization, and

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In recent years, Americans have suffered from the horrors of covid tyranny, government-directed corporate censorship, and now our current banking crisis. The global elite have never been more obvious in their intentions for the greater control over society. Their aim is further consolidation of power and wealth into the hands of radical ideologues and to transform almost every aspect of human society. 
They are not subtle in their ambition. They call it The Great Reset.
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Join the Mises Institute in Birmingham, Alabama for an event dedicated to this global threat. Speakers include Dr. Michael Rectenwald, author of The Great Reset and the Struggle for Liberty. One of the most prominent critics of woke capital, Dr. Rectenwald

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With all due respect to Niall Ferguson, whom I’ve heard of, and Huw van Steenis, whom I’ve not, this tweet is quite preposterous.  I’ve personally met more than five people who understand money just in my own circles.

Now here’s the headline! Swiss National Bank loses nearly $143 billion in first nine months Reuters reported the Q3 result last week, in which Switzerland’s publicly traded central bank (SNB) suffered its largest loss in its 115-year history.

The world today is in crisis. Military aggression in Ukraine has escalated into global economic war, with nations forced to choose between following the lead of an increasingly illiberal West and access to the vital energy and industrial markets of Russia and China. At the same time, the world continues to suffer the devastating consequences of "public health" experts who exploited the coronavirus crisis to pursue their underlying authoritarian impulses.

The latest quarterly filing statement of the Swiss National Bank (SNB) has been issued. Switzerland’s publicly traded central bank had a decrease in the value of its US stock holdings by around $5 billion in Q3 of 2021, ending the quarter with a value of $157 billion. SNB currently has a profit of over $40 billion for the 9 months ended in the year.

Dr. Gary Schlarbaum, one of our generous supporters, has again offered to match all donations received through December 7. That means your $10 donation becomes $20, your $25 donation becomes $50, and so on.

The shutdown of the American economy by government decree should end. The lasting and far-reaching harms caused by this authoritarian precedent far outweigh those caused by the COVID-19 virus. The American people—individuals, families, businesses—must decide for themselves how and when to reopen society and return to their daily lives.