Strip away the mystique and ChatGPT is a next-word predictor with some randomness—the same trick as the spell-checker asking if you meant “dog.” Peter Klein on the economics of AI, minus the hype.

Tuition is up 1,200% since 1980. Enrollment is about to fall off a cliff. Peter Klein argues the real problem isn’t any of the things people usually name.

Take the entrepreneur out of the picture, Mises said, and the entire market economy grinds to a halt. Peter Klein on why bearing uncertainty is the most fundamental act in economics.

Armen Alchian opened a seminar by reading a paragraph on property. Only one person in the room recognized it from Mises’s Human Action. It changed everything.

Peter Klein traces the ideological transformation of the UC system from a world-class research institution to a cautionary tale of government-subsidized capture.

The tradition of Alchian, Demsetz, and colleagues has continuing relevance for strategy scholars.

Under Knightian uncertainty, how do entrepreneurs persuade others to join their projects?

Dr. Peter Klein explores whether AI can ever replace human entrepreneurs and central planners, arguing from Mises’ calculation problem that even “thinking machines” can only mimic, not originate, the real-world judgment and ownership that markets require.

Thoughts on risk, uncertainty, and economic action.

Dr. Peter Klein explains why truly “liberating the American university” means cutting all state ownership, funding, and regulation—not just tweaking DEI programs or research grants—and letting genuinely private institutions compete to provide higher education.

Trump justifies his war on Venezuela by saying that “they” stole “our” oil. Unpacking this claim gives us insight into Trump’s version of crony capitalism.

Scientists have been transformed into grant hunters, and that gives them lots of incentives to lobby for even more federal funding. So, scientists themselves are among the most up in arms at the proposed cuts to federal research funding among universities today.

Peter Klein uncovers the hidden costs, cronyism, and political agendas behind the National Science Foundation and federal research funding.

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.

Recorded at the Mises Institute Supporters Summit in Auburn, Alabama, 12-14 October 2023. Sponsored by Michael and Lisa Keller.
Download the slides from this lecture at Mises.org/SS23_PPT_7

How the End of US Dollar Hegemony Affects the Business Landscape | Peter Klein

Video of How the End of US Dollar Hegemony Affects the Business Landscape | Peter Klein

Do woke tech firms have monopoly power?
Download lecture slides at Mises.org/MU23_PPT_20.
Recorded at the Mises Institute in Auburn, Alabama, on 26 July 2023.

Wokeness and Big Tech | Peter G. Klein

Video of Wokeness and Big Tech | Peter G. Klein

Government attempts to limit “monopoly power” cannot improve well-being.
Download lecture slides at Mises.org/MU23_PPT_15.
Recorded at the Mises Institute in Auburn, Alabama, on 25 July 2023.

Competition and Monopoly | Peter G. Klein

Video of Competition and Monopoly | Peter G. Klein

Entrepreneurship is a general feature of the market economy.
Download lectures slides at Mises.org/MU23_PPT_09.
Recorded at the Mises Institute in Auburn, Alabama, on 24 July 2023.

Entrepreneurship | Peter G. Klein

Video of Entrepreneurship | Peter G. Klein