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Video: Alex Pollock Chairs a Panel Discussion on “Better Money: Gold, Fiat, Or Bitcoin?”

23 days ago

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

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Human Action Conference 2024

February 24, 2024

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

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Austrian Economics Research Conference 2024

February 16, 2024

The preliminary schedule for the conference is here.
Students apply here for a scholarship.
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. In honor of this landmark event, there will be sessions and lectures dedicated to evaluating the advances of Austrian economics over the last half century. 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.

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Last Day to Give in 2023!

December 31, 2023

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!

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Time Is Running Out!

December 30, 2023

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!

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Selections from The End of the Dollar Era

December 20, 2023

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

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It’s Time to Renew Your Mises Membership

December 18, 2023

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

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Get Your Free Booklet by Joe Salerno!

December 14, 2023

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

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Mises Institute Announces Dr. Thomas DiLorenzo as President

October 30, 2023

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

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Last Day to Double Your Gift

September 30, 2023

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

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Three Cheers for Mises

September 29, 2023

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

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Bringing the Truth

September 27, 2023

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

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Thanks to Our Fall Campaign Donors

September 26, 2023

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

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Our Fall Campaign Starts Today!

September 25, 2023

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

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Join Us for the Medical Freedom Summit!

August 2, 2023

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

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Myth #7: Deflation — Falling Prices — Is Unthinkable, and Would Cause a Catastrophic Depression

July 17, 2023

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

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Myth #3: Tax Increases Are a Cure for Deficits

June 19, 2023

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

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Myth #2: Deficits Do Not Have a Crowding-Out Effect on Private Investment

June 12, 2023

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

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Myth #1: Deficits Are the Cause of Inflation; Deficits Have Nothing to Do With Inflation

June 9, 2023

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

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Radio Promo

June 9, 2023

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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Property, Civilization, and Culture: Mises in Reno

May 1, 2023

"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,

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Submission Guidelines for the Mises Wire

March 31, 2023

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

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Money versus Monetary Policy

February 17, 2023

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

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How to Lose $143 Billion Trading Stocks

November 12, 2022

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

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The Best Week of the Year Has Never Been More Important

August 2, 2022

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

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Swiss National Bank Fights Climate Change

November 19, 2021

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

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Double Your Gift Today!

December 3, 2020

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

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End the Shutdown

April 1, 2020

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

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