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

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.
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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

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

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.
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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

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

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

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

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

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

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

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.

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"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,

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

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.
What they mean is “monetary policy,” which is in fact very difficult to understand—given it effectively operates as a political program within the muddled field of macroeconomics. Monetary policy, unlike money per se, is ad hoc, highly technical, reliant on vast amounts of data, and dictated by political expediency.
As for money itself, there is nothing so difficult about it conceptually. A hundred and fifty years ago Carl Menger explained how money arose as the most saleable commodity in the marketplace, with the best properties to be a store of

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 news release reads beyond belief, not because of the unprecedented amount of value that was lost, but just how nonchalantly this legal counterfeiting ring is being downplayed.
The loss … was slightly more than the annual economic output of Morocco ($132 billion), but the central bank does not face bankruptcy thanks to its ability to create money.
Justification for the SNB owning stocks has always been the same:
The SNB made a loss of 141 billion francs from its foreign-currency positions as the bonds and stocks bought

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. Meanwhile, the specter of a sinister Great Reset financed by reckless central bank policy poses perhaps the greatest threat to free societies and the prosperity of mankind.
In this moment, the ideas of the Austrian school are needed more than ever before.
Mises University continues to be the most powerful source

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. Perhaps subjective, it looks like a banner year for an entity who turns a profit through currency manipulation.
As for other affairs the central bank has been concerned with since last quarter; how about climate change?
Several weeks ago the question was asked to board member Andrea Maechler, whether the bank should use its money to “influence companies” linked to climate change initiatives. According to Reuters, the

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.
With a donation of $25 or more, you’ll receive a copy of Jeff Deist’s The Imposers and the Imposed Upon. And, thanks to Gary, your donation doubles. Please donate today.
Your gift allows the Mises Institute to be bigger and better in 2021. We want to offer more free books, articles, and videos to students all over the world. We want to share our ideas with as many people as possible. Your gift is vital for us to do more!
You can set up a monthly sustaining donation through our secure website using a debit or credit card. In special recognition of our Sustaining

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.
Neither the Trump administration nor Congress has the legal authority to shut down American life absent at least baseline due process. As Judge Andrew Napolitano recently wrote, business closures, restrictions on assembly and movement, and quarantines are not constitutionally permissible under some magic “emergency” doctrine. At a minimum, the federal government must show potential imminent harm by specific infected individuals at