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.

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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.

[embedded content]

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.

[embedded content]

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.

[embedded content]

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.

[embedded content]

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.

[embedded content]

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.

[embedded content]

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.

[embedded content]

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.

[embedded content]

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.

[embedded content]

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.

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Tu ne cede malis, sed contra audentior ito

Website powered by Mises Institute donors

Mises Institute is a tax-exempt 501(c)(3) nonprofit organization. Contributions are tax-deductible to the full extent the law allows. Tax ID# 52-1263436

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Tags: Featured,newsletter

Tu ne cede malis, sed contra audentior ito

Website powered by Mises Institute donors

Mises Institute is a tax-exempt 501(c)(3) nonprofit organization. Contributions are tax-deductible to the full extent the law allows. Tax ID# 52-1263436

[embedded content]

Tags: Featured,newsletter

On February 13, 2024, Bob participated (with Jim Rickards, Brent Johnson, and Michael Every) in a ZeroHedge debate on the fate of the USD. In this episode of the Human Action podcast, Bob highlights some of the key issues and explains why he thinks his side won.

Murphy Gives Post-Game Analysis of ZeroHedge Dollar Debate

Video of Murphy Gives Post-Game Analysis of ZeroHedge Dollar Debate

The ZeroHedge Debate: Mises.org/HAP435a
Brent Johnson’s Milkshake Theory: Mises.org/HAP435b
Egert’s Article on the Public Debt Threshold: Mises.org/HAP435c
Bob’s Article on the Latest CBO Federal Debt Report: Mises.org/HAP435d
Human Action Podcast listeners can get a free copy of Dr. Guido Hülsmann’s How Inflation Destroys Civilization:

Bob goes solo to give a point-by-point rebuttal to James Lindsay’s recent essay arguing that "national divorce means national suicide." Bob argues that James employs inconsistent claims and ignores the tremendous economic boon to an independent Texas.
James Lindsay’s Article "National Divorce is National Suicide": Mises.org/HAP434a
Bob’s Book "Common Sense: The Case for an Independent Texas": Mises.org/HAP434b
AntiWar.com Article on Gaza: Mises.org/HAP434c
Scott Horton’s Interview with Arnon Soffer: Mises.org/HAP434d
 
Join Tom DiLorenzo, Joe Salerno, and Patrick Newman in Tampa on February 17: Mises.org/Tampa2024Use code "Action24" for 15% off admission.
 
Human Action Podcast listeners can get a free copy of Dr. Guido Hülsmann’s How Inflation Destroys

Recorded at the Mises Circle in Fort Myers, Florida, 4 November 2023.
Special thanks to Murray and Florence M. Sabrin for making this event possible.
Read Bob’s book Understanding Money Mechanics: Mises.org/Mechanics

The Fed and the Fate of the Dollar | Bob Murphy

Video of The Fed and the Fate of the Dollar | Bob Murphy

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Robert Murphy explains how traders make money in a world of uncertainty and diabolical risk.
Original Article: Making Money While Making Sense of Chaos: Understanding the World of the Traders

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Recently Yaron Brook and Bryan Caplan debated the merits of anarchism at the Soho Forum. Bob critiques Brook’s opening statement.

The Soho Forum Debate: Mises.org/HAP419a
Bob’s Book on Market Anarchy, Chaos Theory: Mises.org/HAP419b
Rothbard’s Book on Natural Rights and the State, For a New Liberty: Mises.org/HAP419c
Hans-Herman Hoppe’s Book on Private Defense, The Private Production of Defense: Mises.org/HAP419d

Responding to Yaron Brook’s Critique of Anarcho-Capitalism

Video of Responding to Yaron Brook's Critique of Anarcho-Capitalism

Join us in Fort Myers on November 4 to cut through the campaign talking points and offer an uncompromising look at what is coming next. Use Code "FL2023" for $10 off admission:

University of Rochester economist Steve Landsburg joins Bob to discuss the abysmal performance of ChatGPT on his undergraduate exam. They also discuss the importance of market prices in guiding behavior and the unexpected problems with the government handing out "free" goodies.
Bob’s article "Superman Needs an Agent:"  Mises.org/HAP400a
Steven’s Book The Armchair Economist: Mises.org/HAP400b
More Economic brainteasers: Mises.org/HAP400c

Why ChatGPT Failed an Economics Exam

Video of Why ChatGPT Failed an Economics Exam

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Contrary to Krugman, DeSantis and others warning about a CBDC aren’t being paranoid: they are simply drawing the obvious conclusions from history.

Original Article: "It’s Not Paranoid to Worry about a Central Bank Digital Currency"
This Audio Mises Wire is generously sponsored by Christopher Condon. 

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In a recent NYT column, economist Paul Krugman mocks Florida Governor Ron DeSantis, who warned that a central bank digital currency (CBDC) would give the government too much power over Americans. Specifically, DeSantis argued that the feds could use a CBDC to further implement the “woke” agenda, penalizing Floridians if they bought too much gas or guns.
Human Action Podcast: Krugman Says It’s Paranoid to Worry About a Fed Digital Currency with Robert Murphy and Jonathan Newman
Krugman ridiculed the very notion that a CBDC might threaten civil liberties:
If this sounds crazy, that’s because it is. I have no idea whether DeSantis believes any of it, or even knows what a central bank digital currency is or what it would do (more on that later). And it’s possible that

The “yield curve” refers to a graph showing the relationship between the maturity length of bonds—such as one month, three months, one year, five years, twenty years, etc.—plotted on the x axis, and the yield (or interest rate) plotted on the y axis.1 In the postwar era, a “normal” yield curve has been upward sloping, meaning that investors typically receive a higher rate of return if they are willing to put their funds into longer-dated bonds. A so-called inverted yield curve occurs when this typical relationship flips, and short-dated bonds have a higher rate of return than long-dated ones.

Investors and financial analysts are very interested in this phenomenon, because an inverted yield curve (defined in a particular way) has been a perfect leading indicator

Bob critiques the economic views of Yuval Harari, who predicts “useless people” because of technological advances. Bob then showcases similar thinking from right-wingers. He ends by addressing a common critique of the Christian God.

Mentioned in the Episode and Other Links of Interest:
Part 1, Part 2, Part 3, Part 4, and Part 5 of the BMS series on Klaus Schwab and the Great Reset
Bob’s book with Silas Barta on Understanding Bitcoin
Source for NWO compilation
Source for World Government Summit panel on blockchain
Source for Harari audio
Tim Pool episode featuring Michael Malice discussing NPCs (around 1:04:30)
Schwab’s books The Fourth Industrial Revolution and Covid-19 and the Great Reset
​For more information, see BobMurphyShow.com. The Bob Murphy Show is

In a recent episode of “The Problem With Jon Stewart,” the former Daily Show host asks former president of the Kansas City Fed Thomas Hoenig why the Fed couldn’t have bailed out homeowners, or just “quantitative ease” away the Treasury’s debt. Hoenig gives muddy answers, so Bob tries to clarify.

Mentioned in the Episode and Other Links of Interest:
Jon Stewart’s full interview with Thomas Hoenig
Jon Stewart skewers Paul Krugman
Jon Stewart interviews Kelton and Gray on MMT
Bob’s book Understanding Money Mechanics
​For more information, see BobMurphyShow.com. The Bob Murphy Show is also available on Apple Podcasts, Google Podcasts, Stitcher, Spotify, and via RSS.

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The government’s latest report puts the twelve-month official consumer price inflation rate at 8.5 percent, the highest since December 1981:
As economists debate the causes of, and cure for, this price inflation, it’s worth recounting which schools of thought saw it coming. Although individuals can be nuanced, generally speaking the Austrians have been warning that the Fed’s reckless policies threaten the dollar. In contrast, as I will document in this article, two of the leaders of the Keynesian and market monetarist schools didn’t see this coming at all.

.
My Worst Professional Mistake
Before diving into it, I need to address a problem: my hands-down worst professional mistake occurred during the early years of the Fed’s “QE” (quantitative easing) programs,

Bob continues his series on Klaus Schwab and the Great Reset, highlighting an interesting remark in Biden’s SOTU, Strobe Talbott’s open support for global government, and the introduction to Schwab’s book on Covid-19 and the Great Reset.

Mentioned in the Episode and Other Links of Interest:
Part 1 and Part 2 of this series
The WEF’s bio for its founder, Klaus Schwab
Schwab’s books The Fourth Industrial Revolution and Covid-19 and the Great Reset
Bob’s first co-hosted Human Action podcast with Jeff Deist
Forbes’ article on Schwab the power broker
​For more information, see BobMurphyShow.com. The Bob Murphy Show is also available on Apple Podcasts, Google Podcasts, Stitcher, Spotify, and via RSS.

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Bob continues his series on Klaus Schwab, explaining the WEF’s plans for redesigning the world, and providing quotes from Schwab’s book on the fourth industrial revolution.

Mentioned in the Episode and Other Links of Interest:
Part 1 of this series
The WEF’s bio for its founder, Klaus Schwab
Schwab’s books The Fourth Industrial Revolution and Covid-19 and the Great Reset
The WEF’s Global Redesign Summit and the Global Redesign Initiative
Nick Buxton’s article on Davos and the danger to democracy
Forbes’ article on Schwab the power broker
FEE article on the socialist roots of fascism
1983 article in Harper’s on the Bank of International Settlements (BIS)
​For more information, see BobMurphyShow.com. The Bob Murphy Show is also available on Apple Podcasts, Google

Bob starts a series looking into Klaus Schwab, founder of the World Economic Forum and, along with Prince Charles, proponent of the “Great Reset.”

Mentioned in the Episode and Other Links of Interest:
Klaus Schwab and Prince Charles promoting the “Great Reset”
The World Economic Forum’s page on the Great Reset
An example of a session from the WEF’s Davos Agenda 2021 conference
The WEF’s bio for its founder, Klaus Schwab
Schwab’s books The Fourth Industrial Revolution and Covid-19 and the Great Reset
The video of Schwab explaining his connection to Kissinger
The “red pill” documentary Wake Up Call
Murphy’s new book from the Mises Institute, Understanding Money Mechanics
​For more information, see BobMurphyShow.com. The Bob Murphy Show is also available on Apple

Bob reviews Mark Spitznagel’s latest book, Safe Haven: Investing for Financial Storms, on which he was a consultant. Bob explains that Spitznagel rejects the alleged dichotomy between risk and return, and then gives a numerical example to illustrate the two schools of thought.

Mentioned in the Episode and Other Links of Interest:
Bob’s appearance on Jordan Peterson‘s podcast
Bob’s surprisingly high ranking among influential economists
His episode with Winston Ewert (who helped design the AI that produced the ranking)
Mark Spitznagel’s new book Safe Haven: Investing for Financial Storms and his previous book, The Dao of Capital
​For more information, see BobMurphyShow.com. The Bob Murphy Show is also available on Apple Podcasts, Google Podcasts, Stitcher,

Bob reviews Mark Spitznagel’s latest book, Safe Haven: Investing for Financial Storms, on which he was a consultant. Bob explains that Spitznagel rejects the alleged dichotomy between risk and return, and then gives a numerical example to illustrate the two schools of thought.

Mentioned in the Episode and Other Links of Interest:
Bob’s appearance on Jordan Peterson‘s podcast
Bob’s surprisingly high ranking among influential economists
His episode with Winston Ewert (who helped design the AI that produced the ranking)
Mark Spitznagel’s new book Safe Haven: Investing for Financial Storms and his previous book, The Dao of Capital
​For more information, see BobMurphyShow.com. The Bob Murphy Show is also available on Apple Podcasts, Google Podcasts, Stitcher,