The city’s capture would represent Kiev’s greatest setback on the front line since the fall of Avdiivka in February 2024.

Give today and double your gift to the Mises Institute.

The recent “protests” against Scheinbaum were astroturfed. Why? It may be that Scheinbaum’s efforts against the cartels are upsetting the CIA which has long allied itself with drug lords.

In the end, Fedgov will just print more money and raise taxes. Social security will be preserved by politicians to ensure that elected officials don’t lose the votes of pensioners.

New WaPo piece is a tour de force of bad economics on the “dangers” of deflation.

CBS: The cryptocurrency dropped more than 8% in the last 24 hours alone, falling to $84,096 as of 11:15 a.m. on Monday.

According to Australia’s Sky News, Donald Trump told Nicolás Maduro in call he must leave Venezuela in order to save himself and his family.

Likely: if a tick “accidentally” escapes from the US lab, then the federal government will mandate mRNA vaccines for all US livestock.

The worst bubble in human history is the government spending bubble, up from about 8 percent of GDP in 1900 to about 40 percent of GDP today. Column by Christopher Chantrill.

Realtors seem to think that rage-quitting the market will somehow make prices go up. Things won’t go the way they hope.

The research aligns with two other studies on the Gaza death toll, which have found the real number of violent deaths is likely around 40% higher than what the Gaza Health Ministry has reported.

“The Ukrainians have agreed to the peace deal,” the U.S. official told CBS News. “There are some minor details to be sorted out but they have agreed to a peace deal.”

AI data centers are key: Data centers are expected to consume anywhere from 6.7% to 12% of total U.S. electricity by 2028, up from 4.4% in 2023.

Steeper cuts [to prices] will come later … “It’s going to be worse.” Wright said she fears the government might be forced to step in as “the buyer of last resort.”

The data the Fed does have is presenting a picture of an uneven and wobbly economy. Job growth beat expectations last month but has cratered overall in 2025.

Huckabee lobbied for Pollard’s release from prison, arguing that it’s no big deal to spy for Israel which is supposedly “an ally.”

The investor who shot to fame for calling the housing crash before 2008, has launched a Substack aiming to lay out in detail his bearish thesis on artificial intelligence.

He was elected to pursue peace, but Trump’s extra-judicial killings of unknown persons in the Caribbean are part of a new quasi-war against so-called “narco-terrorists.”

Apparently unaware of where price inflation comes from, Bessent says you can beat inflation by moving from a “blue state” to a “red state.”

Dr. Wanjiru Njoya explains how “phony civil rights” expand state power at the expense of self-ownership and property, and offers a conservative-libertarian case for liberty rooted in reality.

“…Holocaust education has begun backfiring, because it has been giving young people the wrong impression that genocide is always bad.” By Caitlin Johnstone.

“Data-dependent” Federal Reserve will be flying blind at its next FOMC mtg on Dec 10. It will be basing its decisions on September CPI data.

Crenshaw and other Republicans were on an official visit to Mexico and Crenshaw was “having drinks with a group of Mexican officials.”

Rothbard’s biographer, and a great friend to peace and freedom. I still miss reading Justin’s weekly column at antiwar.com.

Yields on the benchmark 10-year bonds climbed as much as 0.04 percentage points to 1.78 per cent on Wednesday — the highest level since June 2008.

Europe’s Russophobia and its parasitic relationship with the United States has impoverished Europe and set the stage for a bleak future.

Tether holds a record $135 billion in direct and indirect exposure to U.S. Treasuries, highlighting how stablecoins help to prop up the US regime.

Bandow takes a look at one of America’s greatest enemies of peace and freedom.

Bovard: Despite being charged with no crime, more than half a million Americans have been robbed by government agents on the nation’s sidewalks, highways and airports in recent decades.

“Kirk had a deep respect for Dr. Paul and credited him with challenging the Republican establishment.” Article by Ginny Garner.

It represents one of the highest numbers of WARN notices since Federal Reserve Bank of Cleveland researchers started tracking the data in January 2006.

“I’d love to get the guy currently in there out…⁠ but ​people are holding ​me back,” he said, referring ‍to ⁠Fed’s Jerome Powell.

The US-controlled “Board of Peace” will rule over Gaza for at least two years, and the US will oversee a newly deployed military force in the territory.

“President Donald Trump’s once unquestioned grip on his MAGA political base is showing signs of strain as some of his supporters have started pushing back…”

John Mearsheimer thinks it may be so. Mark Levin’s hysterical rants about Tucker Carlson illustrate the state of the Israel lobby in America.

The “benchmark” Thanksgiving meal is cheaper only because Wal-Mart greatly reduced the size of the meal, and then declared it more affordable.

“A dividend of at least $2,000 a person (not including high income people!) will be paid to everyone.” But it’s all just more federal deficit spending.

According to the Israeli investigative outlet Shomrim, the base will be big enough to house thousands of US and international troops.

Raphael W. Bostic, president and CEO of the Federal Reserve Bank of Atlanta, announced his retirement at the end of his current term on Feb. 28, 2026.

The job picture continues to worsen: “This is the highest total for October in over 20 years, and the highest total for a single month in the fourth quarter since 2008.”

Approval ratings plummet as the Trump admin has become a hotbed of warmongering, big spending, and an endless churn of big-government schemes.

Europe’s economy has grown by a modest 0.2% in the third quarter, according to official figures released Thursday.

At the FOMC press conference, Powell admitted the Fed is deciding monetary policy with no official data.

Pseudo entrepreneur Sam Altman now wants “a federal guarantee to make it easier to finance massive investments in AI chips for data centers.”

In later years, Cheney worked to empower the deep state against Donald Trump and his supporters.

Having been battle-tested on Palestinian civilians, the UAVs are now being used to surveil protesters across the US.

The extrajudicial killings continue without any declaration of war. Meanwhile, the administration admits few of these boats have the ability to even reach US waters.

The “boom continues: ” U.S. factory activity shrank in October for an eighth straight month, driven by a pullback in production and tepid demand.”

It has not been proven that it is Ukraine who attacked the oil refineries in Hungary and Romania. But the circumstances force the question of whether it is a Ukrainian false flag.

NBC reports: “companies are seeing wealthier Americans spend more while lower-income Americans are paring back.”

Tel Aviv vows to investigate the leaks, but is untroubled by the rapes themselves.

The Las Vegas Convention and Visitors Authority reported an 11 percent drop in visitors year-on-year in June, followed by a 6.7 drop in August.

Bill Kristol: ” I think a lot of the younger Democrats are quite impressive.”

The support network that has emerged through the Mises Institute is really important. We feel like we’re all alone, but having that support network is great because it tells you that you’re not alone, that there are other people doing the same thing, and that we’re rooting for you.

“the Committee decided to lower the target range for the federal funds rate by 1/4 percentage point to 3-3/4 to 4 percent.”

U.S.-led regime change in Venezuela would worsen the problems Trump promised to fix.

Milei’s party won pluralities nationwide: “we will have 101 deputies instead of 37,” said Milei. “…in the Senate, we will go from 6 senators to 20.”

The Mises Institute 2025 Supporters Summit in Delray Beach, Florida. This event explores the theme of economic freedom and makes the case for the system of private property.

The Mises Institute 2025 Supporters Summit in Delray Beach, Florida. This event explores the theme of economic freedom and makes the case for the system of private property.

Markets price in a near 97% probability of a 25-bp rate cut in Oct and a 94% probability of another 25-basis-point rate cut in Dec.

Trump’s rule-by-decree protectionism continues as he insists Americans must pay more taxes to get Canadian goods and raw materials.

The Social Security cost-of-living adjustment will be 2.8% in 2026, the Social Security Administration said.

Napolitano: “The Trump administration has claimed that it can kill whomever it designates as an unlawful enemy combatant. The evidence is this: “trust me, bro.”

One area would be controlled by Hamas and the other controlled by the Israeli military.

Ridiculously, Treasury Sec Bessent said in a television interview earlier this month that the peso was “undervalued” and he intended to “buy low and sell high.”

The CIA’s efforts to foment a coup have already failed once. Will Trump try it again?

More inflation coming: the Fed will lower its key interest rate by 25 basis points next week and again in December, according to a Reuters poll.

While it is true that one cannot create entrepreneurs in a classroom setting, it still is important that people how entrepreneurship works. No one explains entrepreneurship better than Austrian economists.

The rollback of U.S. meddling in “promoting democracy” is perhaps the most positive foreign-policy reform of the Trump presidency. Column by James Bovard.

The obsession with measuring aggregate GDP obscures how the real standard of living for many people has declined.

The US military has been drawing up plans to launch strikes on Venezuela and potentially capture strategic ports and airfields on the path to a full-blown war.

The new bailout is said to be a “public-private partnership”: a state-sponsored corporatist scheme to bail out investors and Milei.

The famous phrase was uttered by William H. Vanderbilt, which was interpreted to mean that the capitalists didn’t care for their customers. Vanderbilt knew he worked for his stockholders, but in working for them, he had to provide for his railroad’s passengers.

US senators through their support behind the terrorist Al Qaeda regime that now rules Syria.

Video: John Mearsheimer exposes how the war is going well for Russia and ” the Ukrainians are in deep trouble.”

Like Trump, Waller favors more monetary inflation and is “a dove in favor of running the economy hot.”

Trump on Monday suggested that Miriam Adelson, one of his biggest donors during his 2024 campaign, “loves” Israel more than the United States.

Karen Kwiatkowski: The civil war is ongoing, and Trump sits astride a state that is reacting far too late and with one hand tied behind its back.

$20 billion US taxpayer dollars will be used to bail out a country led by Trump ally and State-of-Israel fanboy Javier Milei.

Gold broke through $4,100 per ounce for the first time on Monday, while silver rose above $52/oz, hitting another record high.

For every $5 the government collected in taxes, about $1 went to pay interest.

The authors of multiple peer-reviewed studies in the British medical journal The Lancet, say the actual death toll is much higher.

“Institutional inflows and Fed rate cuts along with a weakened dollar create the perfect storm for demand in Bitcoin…”

Under President Milei, the interventions have rapidly depleted the Treasury’s hard currency holdings.

The U.S. directly purchased Argentine pesos and finalized a $20-billion currency swap to provide stability amid the country’s economic turmoil.

“The precious metal has soared this year as investors seek a safe haven from a weaker dollar and geopolitical and economic uncertainty.”

Israel has received over $21 billion in military aid from the US and Washington has bombed Iran and Yemen for Tel Aviv.

The verification process for 3.6 million voters must be completed before the February 18 statewide primary election.

Mises Institute Senior Fellow Per Bylund will lead a new workshop on “Exploring & Developing New Theoretical Approaches to Market-Based Management & Entrepreneurship.” Now accepting applications.

“As uncertainty deepens amid the U.S. government’s first shutdown in almost seven years, the gold frenzy continues to climb to new heights.”

Ilana Mercer describes how, with the genocide of Gazans almost complete, the media is now reporting on it as a way of absolving itself of its complicity.

Scott Bessent pledged on September 22 to do “whatever it takes” to prop up the Trump administration’s most important ally in Latin America

During the Cold War, pro-assassination forces gained ground, but the illegal killing was hidden because it was inconsistent with the shining-city-on-the-hill propaganda.

Today is Ludwig von Mises’s birthday and the last day of our Fall Campaign.

Our enemy, the Fed, has a money printer. We have courageous donors.

Donate today to double the impact of your gift.

Disclosure by the FBI to Congress answers a long-simmering question but does not reveal what the agents did that day.

As in the US, immigration control is used in the UK as an excuse to push more government surveillance and control.

“Government at its core is the negation of freedom. Hence it wants to silence those who expose its errors and rid itself of those who challenge it.”

Donate today and help us train the next generation of Austrian economists and counter regime propaganda.

The mission of the Mises Institute is to preserve, promote and advance the ideas that can create a better, freer, and more prosperous world.

The mission of the Mises Institute is to preserve, promote and advance the ideas that can create a better, freer, and more prosperous world.

A weak showing for Milei’s party in provincial elections last week jolted investors and forced the country to start selling “every last dollar” to defend the peso.

The People’s Bank of China has reportedly pitched central banks on storing the yellow metal on their behalf, inside China.

” Job gains have slowed …At the same time, inflation has risen recently and remains somewhat elevated.”

Thanks to all of our generous donors who participated in our 2025 Fall Campaign. Your continued support is vital and much appreciated.

The USA is living in the past and still thinks it can abuse its potential allies, and still expect those countries to line up in support of the US. Article by Douglas Macgregor.

Miran wants to fire up the Fed money printers. He absurdly believes Fed policy is ” well into restrictive territory.”

The best people in the world support the Mises Institute. 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. Will you join them?

Our annual Fall Campaign begins today! Please consider donating to the Mises Institute and the cause of liberty and civilization.

Epstein’s case exemplifies how federal law doesn’t apply to the financial elite.

Asset prices are near all-time highs, but the Fed cuts rates to pad the wealth of Wall Street, and to please the Trump administration.

Sec. of War Pete Hegseth says that the U.S. is “going to go on offense, not just on defense.”

Judge Napolitano: We cannot support the president’s extrajudicial killings and also claim to take the Constitution seriously.

The president bragged about committing more murders at sea today, and claims the unknown victims were drug runnners.

If the Fed pumps more easy money, we could expect a surge above $3,800.

Dell boasted on its WeChat account that its services assisted the Chinese internet police in “cracking down on rumormongers.”

In the weeks leading up to his September 10 assassination, Kirk had come to loathe the Israeli leader, regarding him as a “bully.”

The shooter, who is reportedly still at large, fired from a distance.

The socialist State of Israel has now bombed five countries in the past year: Syria, Lebanon, Palestine, Iran, and Qatar.

It turns out the skeptics were right all along, and the media “analysts” crowing about the “blowout” jobs numbers were repeatedly wrong.

Another Fed rate cut appears to be in the works, so that is likely to lead to further declines in the dollar, and increases in the gold price.

For the first time since 1996, central banks’ foreign exchange holdings hold more gold than US Treasuries.

Conservatives increasingly oppose the socialist State of Israel, and want out of the US’s pro-Israel wars. The old guard is very mad about this.

Cook allegedly committed mortgage fraud, but the prosecution is really part of an effort to put more Trump personnel on the Fed Board of Governors.

Trump claimed he could single-handedly raise taxes (tariffs) under the International Emergency Economic Powers Act. The appeals court disagreed.

Rate cut to “stimulate” jobs? Powell: “while the labor market appears to be in balance, it is a curious kind of balance that results from a marked slowing in both the supply of and demand for workers.”

The files provide a fresh and often disturbing look at a spy described by historian Jefferson Morley as “a leading architect of America’s strategic relationship with Israel.”

Our corrupt economic system was created by people born decades before the Boomers were adults. The boomers just got lucky in a system that created vast wealth inequality.

The very definition of socialism: government ownership of the means of production. The US federal government now owns 10% of intel.

The median sales price of new houses sold in July was $403,800, down 5.9% from a year earlier and the lowest price since November 2024.

In this issue of The Misesian, we take a look at how states use their fiscal and financial powers to convert the productivity and resources of the private sector into warmaking power for the state’s elites.

Powell caves to administration pressure and predicts rate cuts. Meanwhile, asset prices soar on the news of more inflation.

Bolton is a leading cheerleader for the modern American surveillance state and for endless intervention abroad.

For more than 20 years now, our summer-long fellowship program has offered liberty-minded scholars a place to write, study, publish, and develop their contributions to the fields of economics, history, philosophy, and more. Learn more about this year’s cohort!

Economist and UN adviser Jeffrey Sachs spoke at the Ron Paul Institute’s conference in Washington and presented a ‘Blueprint for Peace’

Cook has a permanent vote on the central bank’s rate-setting committee and was appointed by President Joe Biden to a term running until 2038.

The Federal Reserve on Wednesday released the minutes of the Federal Open Market Committee meeting that was held on July 29–30, 2025.

A campaign by law enforcement officials, Hindu activists, and extremist politicians uses draconian anti-conversion laws to systematically target Christians across India.

In this issue, the latest scholarship developing the Austrian School of economic thought.

In this issue, the latest scholarship developing the Austrian School of economic thought.

Hayek for the 21st Century is a primer for the layperson, introducing a new generation of readers to Hayek’s writings and hopefully avoiding the 20th century’s mistakes in the 21st century. Get a free copy today.

New poll puts the AfD party ahead of German Chancellor Friedrich Merz’s mainstream conservative bloc.

The Texas Dept of Public Safety has fought to keep records secret. Now, finally more records will be released, and expose more police cowardice and incompetence.

Trump plans a centralized military force for deployment against. This is not a state-based National Guard force. It’s a de facto centralized army.

As former Defense Secretary Robert Gates said back in 2011, Israel is an “ungrateful ally” that gives “nothing in return” for American guarantees, military support, and intelligence sharing.

“In less than a decade, conscientiousness — the trait most closely linked to responsibility, follow-through, and self-control — has collapsed among young adults.”

Zuckerberg runs an illegal school in his hometown. This should be legal for everyone, but only the billionaire class gets away with it.

“According to federal data, 57% of workers’ pay grew faster than inflation in June, up from a monthly low of 44% during the height of inflation.”

“Though it may have been controversial, the July jobs report helped confirm the notion that the U.S. economic engine is sputtering.”

Militaries on the verge of collapse often recruit old men and young boys.

Netanyahu will urge a meeting of the security cabinet on Tuesday to support the full “conquest of the Strip” according to reports in Israeli media.

Altman is pushing a single global AI-controlled source of ID verification.

President Trump attacked Rep. Josh Hawley after Hawley voted for a bill banning stock trading among lawmakers, presidents and vice presidents.

The United States likely stationed a portion of its nuclear weapons arsenal in the United Kingdom for the first time since 2008, Bloomberg reported.

Part one of Tucker Carlson’s interview with retired Green Beret Lt. Col. Tony Aguilar, who says he witnessed war crimes in Gaza.

“Thin blue line” says the real problem is “social media.” Reminder: it is US law that police are NOT required to protect the public.

” The death of CAFE could very well signal the rebirth of the U.S. auto industry.”

The fertility rate in the U.S. dropped to an all-time low in 2024 with fewer than 1.6 children being born per woman.

The Fed still fears price inflation, which has been accelerating in recent months.

The complete ethnic cleansing of Gaza is the State of Israel’s final solution.

Maybe Trump realized Powell and Trump can work together to destroy the dollar and inflate prices.

But secessionist Albertans aren’t interested in joining the United States.

“Next election cycle someone like Tucker Carlson or JD Vance will run on his platform and these suckers will swallow it hook, line and sinker.”

For the first time since February 2022, Zelensky has been revealed to be no different from other corrupt Ukrainian Presidents.

The passage of Trump’s budget law means the government will likely need to issue a flood of short-term Treasury bills to finance its deficit

Domestic coach-class travel demand has come in weaker than airline executives expected this year. Are consumers running out of disposable income?

President Donald Trump signed a law on Friday to create a regulatory framework for dollar-pegged cryptocurrencies, known as stablecoins. NTD’s Don Ma discusses with Steve Hanke, Professor of Applied Economics at Johns Hopkins University, and Christian Briggs, CEO of Hard Asset Management.

“Emergency Medicaid is often used by immigrants, including those who are lawfully present and those who are not.”

The Holy Family Church in Gaza was struck by an Israeli attack …The direct strike killed two people. The Israeli state is now “investigating” the matter.

Rice prices in Japan are a big deal. “One of the main sources of anger has been the surging cost of the food staple, which has rocketed for months…”

The yield on German gov’t bonds rose three basis points to 3.25%, adding to a surge in the past month, close to the highest since 2011.

“Americans’ attitudes on immigration have largely returned to where they stood before the recent border surge.”

Inventory has been rising steadily over the past year, up 29% in June. Prices are still seeing big gains in the Northeast and Midwest.

“the 30-year yield neared the record high seen in May and the 20-year yield touched the highest since 2000.”

ZeroHedge summarizes the debate between David Beckworth and Bob Murphy on whether the Fed should be abolished.

“Attacks by Jewish settlers have been on the rise, and an unspoken policy of impunity for settler violence, arson and acts of intimidation appears to have taken hold.”

” a return to near-zero rates ‘remains significant over the medium to long term…due to recent elevated uncertainty.'” In Fedspeak, “uncertainty” means “bad economy.”

The Mises Institute is proud to announce that Dr. Steve Hanke has accepted a new position as Senior Distinguished Fellow at the Mises Institute.

As prices surge, loan amounts get bigger. “Larger mortgage balances have put pressure on homeowners and likely caused an increase in delinquencies.”

Trump, et al want more inflation and want Powell to be the new Arthur Burns. Burns is arguably the actual worst Fed chair ever.

“The Department of Defense continues to provide the President with robust options to continue military aid to Ukraine.”

More lawless new taxation without any debate or vote in Congress. “Today we’re doing copper,” he said at a Cabinet meeting, adding that he believed the rate will be 50%.

Up over 30 basis points in 3 days, now above 3%. “Market concerns about fiscal policy….may be contributing to the rise in bond yields…”

Trump praises ‘young, attractive’ Syrian leader Ahmed al-Sharaa who is a known Al-Qaeda terrorist who regime currently persecutes Syrian Christians and massacred 1,500 Alawites.

Musk signaled he would donate to the Kentucky Republican’s 2026 reelection campaign on X when he responded “I will” to a post asking who would be backing Massie’s congressional bid.

Let’s hope he’s right. Trump’s BBB is a massive boondoggle that increases federal power and federal spending. Massie is one of the few good guys on this.

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.

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.

The worst case would be to turn Fannie and Freddie back into government-sponsored enterprises again, with a free government guarantee to subsidize the investors.

The original adherents of “America First” grounded themselves in a liberal tradition, arguing that entanglement in foreign wars would erode freedom at home and threaten our constitutional republic.

The site can also host blogs and announcements related to Austrian economics and libertarianism in the humanities.

The US dollar index tumbled in the first six months of the year, posting its worst first-half performance since 1973 when Richard Nixon was president.

The chair of the Senate Banking Committee, branded the renovations “luxury upgrades that feel more like they belong in the Palace of Versailles.”

Low interest rates are a type of subsidy to home prices, and rising prices reflect falling mortgage rates.

Trump continues his campaign demanding more inflation and the further devaluation of the dollar.

Napolitano: The argument is that less liberty produces more safety. That premise is historically and morally erroneous.

May PCE inflation rises to 2.3%. Remember when Powell predicted inflation would soon be back at 2 percent back in September?

Trump wants more inflation. Warsh, Hassett and Bessent are among those under consideration as Trump evaluates their commitment to cutting rates.

President Trump called for Israeli Prime Minister Benjamin Netanyahu’s corruption trial to come to an end in a strong show of support for the Israeli leader.

The US assessment goes against claims from Israeli PM Netanyahu, who launched the war under the pretext of preventing Iran from obtaining a nuclear weapon.

The Israeli state and its supporters view the American taxpayers as people to be exploited and defrauded for the benefit of a regime that offers Americans nothing in return.

Trump is now weighing sending in the US military. This presidency looks like an extension of George W. Bush’s.

Tucker Carlson opposes Trump’s new war, so Trump claims to have invented “America First” and repeats banal slogans about weapons of mass destruction.

Hunter DeRensis writes at The American Conservative, “Israel is a rogue nuclear state that is aggressive abroad and despotic at home.”

Japan’s economy contracted at a higher pace than expected in the first quarter of 2025, according to official data for the January to March period released on Friday.

The deployment of California National Guard troops and active-duty U.S. Marines onto the streets of Los Angeles without local approval is an assault on federalism.

Because keeping the US involved in only 2 hot wars isn’t enough to please the war party.

” The IC continues to assess that Iran is not building a nuclear weapon and Supreme Leader Khamenei has not authorized the nuclear weapons program.”

Israel’s airstrikes on Iran and US involvement shatter the illusion that America First guides President Trump’s Middle East policy. Article by Brandan Buck.

“By this time next week, the U.S. and Iran could be at war.” From Andrew Day of The American Conservative.

So long as the unchecked army of bureaucrats, technocrats, and deep-state operatives is allowed free rein, it will be impossible to make progress in limiting the state’s power over individuals.

Critics decried the “retirement” of the previous 17-member ACIP, fearing the committee would make new vaccine recommendations not favored by Big Pharma.

It could be that deporting private sector workers isn’t quite as popular as deporting violent criminals on the dole.

Its intent may be to sabotage whatever peace deal trump might have pursued. But US taxpayers will pay either way.

Alex Pollock has questions for the Federal Reserve in the Financial Times.

Thomas DiLorenzo joins the New American’s Alex Newman to discuss ” Federal Reserve: The Ultimate Deep State Tool of Control & Destruction”

Thomas DiLorenzo joins CapitalCosm to discuss the growing interest in gold at the state level

” Shame on those who voted for it: you know you did wrong. You know it.”

Trump is partnering with CIA-funded surveillance operation Palantir to build a database on all Americans.

As debt piles up, the cost of insuring exposure to U.S. government debt has been rising steadily.

MAGA wants a single man to be able to raise taxes without any checks on this power. Fortunately, the courts disagreed.

Markets are figuring out that Trump’s tariff “negotiations” are just political theater, with no real end game or plan.

U.S. Federal Reserve officials at their last meeting acknowledged they could face “difficult tradeoffs.”

Japan is becoming a case study in what happens when investors lose patience with massive deficits.

Pope Leo Wednesday: “In Gaza, cries rise to the heavens from parents holding the lifeless bodies of children.”

James Bovard: Today is the 163th anniversary of the battle of Front Royal, Virginia (the town near where I was raised). On May 23, 1862, almost all the Yankee soldiers in Front Royal were captured, killed or wounded.

30-year Treasury yield spikes to 5.09%, 10-year yield hits 4.61%. 10-yr yield is back at 2005 levels.

Progressives have repeated the Malthus theme of overpopulation for six decades. However, the real demographic problem facing modern industrial nations has been the dearth of population growth fueled by an inflation culture.

Sales of previously owned homes in April declined 0.5% from March. That is the slowest April pace since 2009. Jobs and incomes aren’t nearly as good as we’ve been told.

Massie is right, as usual. Most Republicans will vote for it anyway, and continue the US slide into bankruptcy.

A stagnating economy means fewer vacations and less air travel. Airlines are feeling it.

The “dark enlightenment” is simply a variation on the technocracy of “sustainable development” or the “great reset.” Technocratic control is the goal in both cases.

The U.S. Federal Reserve just pulled off something stealthy — over four days last week, without fanfare, the Fed vacuumed up $43.6 billion in U.S. Treasurys.

Ready to see history with new eyes? You won’t look at war the same way again.

All potentially unpopular cuts will hit only after 2026 or 2028. This is proof Trump was never serious about any real spending cuts. These cuts will never actually happen.

A Gallup survey taken in March this year found only 46% of Americans expressed support for Israel (the lowest level in 25 years of Gallup’s annual tracking).

Edwin S. Corwin in The President: Office and Powers, 1878-1957 has argued that the Constitution is a tussle for control between the executive and legislature. It is, he claims, “an invitation to struggle for the privilege of directing American foreign policy.”

Lately, James Lindsay has burned much of his credibility in attacking largely non-interventionist right-wingers as “Woke Right.”

Considered centrist (by modern standards), not outspoken on political issues. Born American, but has been a Peruvian bishop for the past 11 years and is deeply connected to Latin America.

The bottom 80% of America is in recession and is starting to cut back on extra spending such as fast food.

To be sure there are probably two factors at work here. One is tariffs and the other is the fact that auto loan delinquencies are rising and people need cheaper cars.

“the Committee decided to maintain the target range for the federal funds rate at 4-1/4 to 4-1/2 percent.” Click here for post-FOMC press conference.

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.

On the night of the Boston Tea Party in 1773, American insurrectionists donned disguises and destroyed a shipment of tea imported by the East India Company. The protestors boarded privately owned ships in the harbor and threw the tea overboard. Later that night, the activists discovered another tea shipment that had been unloaded at a warehouse. Not content with having destroyed most of the company’s import, they broke into the warehouse and destroyed that tea, too. The total damages amounted to more than $1.5 million in today’s dollars.This was the work of the Sons of Liberty, a group which would become known for acts of resistance, arson, and violence against tax collectors and other agents of the crown.But why destroy the tea of a private company if the group’s target

Please consider helping us publish these new books. Every donor of $500 or more will be listed in both books as a Patron. To become a Patron, click here. The deadline to be included is March 5.Freedom in One Lesson: The Best of Leonard ReadEdited with commentary by Gary GallesFreedom in One Lesson is an extensive collection of Leonard Read’s best, most powerful sustained arguments on behalf of liberty.Over ninety-seven short chapters, Gary Galles elucidates the essence of Leonard Read’s lifelong work of educating the world in plain English about the virtues of freedom, something that was urgently needed in the dark days of the postwar era and is even more desperately needed today.Leonard Read had a golden literary touch that produced hundreds of articles and numerous books

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.

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

Students apply for an admission scholarship here.
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

The Mises Wire depends on unaffiliated contributors for a significant proportion of its content. We welcome submissions from everyone, regardless of educational achievements and other credentials, so please send us your essays!
We’re looking for short articles that approach real-world economic issues from an Austro-libertarian perspective (read: not just theory). We also accept history and sociology pieces that make use of Austrian or libertarian ideas. Radicalism is welcome, but submissions should aim to reach people beyond the free-market sphere.
Send essays to [email protected] with “Mises Wire submission” in the subject line.
Please adhere to the following guidelines when submitting your essay for consideration.
1. Do not submit your essay to other outlets while we’re reviewing it.
2.

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.