Mises Institute


The Mises Institute is the world's leading supporter of the ideas of liberty and the Austrian School of economics.






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Mises on Secession

[ Editor's Note: Contrary to some attempts to portray Ludwig von Mises as a theorist who rejected radical solutions, we find in his works the Mises supported radical decentralization and widespread secession. Hans-Hermann Hoppe discusses Mises's views below. ] A nation, therefore, has no right to say to a province: You belong to me, I want to take you. A province consists of its inhabitants. If...

Vices are NOT Crimes

Introduction by Murray Rothbard: We are all indebted to Carl Watner for uncovering an unknown work by the great Lysander Spooner, one that managed to escape the editor of Spooner's Collected Works . Both the title and the substance of "Vices are not Crimes" highlight the unique role that morality and moral principle had for Spooner among the anarchists and libertarians of his day. For Spooner was the last of the great natural-rights theorists among anarchists, classical liberals, or moral the...

The Market Economy Has Been Replaced by a "Fiat Economy"

The COVID-19 pandemic has torn the veil off what we can now can call a "fiat market. It has stripped away all pretense of a true market. Governments and central banks now create both supply and demand. Bailouts and subsidies are handed down so that zombie corporations can produce on the one hand, while welfare, universal basic income, and other handouts are distributed so that citizens can buy ...

Michael Hardin on Sacrifice vs. the Gospel of Peace

Michael Hardin is a theologian with a radical message of Jesus’ forgiveness and peace. He and Bob have a lively and deep discussion on the true meaning of the gospel and how today’s Christians often misunderstand it. Mentioned in the Episode and Other Links of Interest: The YouTube version of this interview. Michael Hardin’s website Preaching Peace . Michael Hardin’s book Knowing God?: Consumer...

Europe's Bailouts Risk a Full-Blown Financial Crisis

The measures implemented by governments in the eurozone have one common denominator: a massive increase in debt from governments and the private sector. Loans lead the stimulus packages from Germany to Spain. The objective is to give firms and families some leverage to pass the bad months of COVID lockdowns and allow the economy to recover strongly in the third and fourth quarters. This bet on ...

Review: Narrative Economics: How Stories Go Viral and Drive Major Economic Events

Narrative Economics: How Stories Go Viral and Drive Major Economic Events Robert J. Shiller Princeton: Princeton University Press, 2019 xxi + 377 pp. Abstract: Much of Shiller’s new book is about how economic narratives form, spread, and fade. Drawing on medical evidence about the spread of infectious disease, Shiller argues that “economic fluctuations are substantially driven by contagion of o...

Private Defense in the History of Genoa

The city of Genoa is often excluded from histories of medieval and Renaissance republicanism. Similarly, Genoa is also absent from discussions on the rise of territorial states in northern Italy. This exclusion can be explained in various ways. To be sure, the Genoese have demonstrated a lack of interest in writing political philosophy and in intellectualizing their civic values. But, more impo...

Will the Police Crack Down on Lockdown Violators the Second Time Around?

It will be very interesting if the police—who did nothing to disperse protests that were obviously in violation of bans on mass gatherings—turn around and arrest business owners and other "violators" of a second round of stay-at-home orders. This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Millian Quinteros. Original Article: " Will the Police Crack Down on Lockdown Violators the Second Time Around?​ "

The Social Consequences of Zero Interest Rates

Anyone who has ever been to Japan knows: Japan is special. The country has many strange habits. The Japanese culture is simply different and many peculiarities are hardly understood in the West. But it's not only the old established traditions that are foreign to us Westerners. Just as disturbing are social developments such as the increasing tendency of Japanese people to overwork, parasite si...

The Constitution Failed

Contrary to a certain nostalgic nationalist myth that still endures, the US Constitution as first conceived was never intended to limit government power. The primary purpose of the Convention of 1787 was to increase federal power, as the older constitution of 1776 (i.e., the "Articles of Confederation") was regarded by centralizers as being too "weak." The older constitution was built on a cons...

Man, Economy and State with Jeff Deist

Today's solo show kicks off our reading of Rothbard's landmark Man, Economy, and State with a look at Chapter 1 , "Fundamentals of Human Action." So much of what economics texts get wrong is laid out brilliantly here by Rothbard, who gives readers the basics of action, means/ends, time, ranking, factors of production, and capital in this 77 page master class. The short appendix at the end of th...

Nozick and the Minimal State

Robert Nozick’s derivation of a minimal state in the first part of Anarchy, State, and Utopia (1974) has generated a lot of criticism, and you might think there is nothing new to be said about it. I have a new point, though—at any rate, I haven’t seen it discussed—and this is what I’m going to talk about. Nozick’s starting point resembles Murray Rothbard’s anarchism. The fundamental principle o...

The Second Round of Lockdowns Won't Be as Easy as the First

A second round of lockdowns will assault an America already suffering from widespread unemployment and a fragile economy. Even worse, round two is likely to last longer than round one, bringing an even larger economic and social toll. This Audio Mises Wire is generously sponsored by Christopher Condon. Narrated by Millian Quinteros. Original Article: " The Second Round of Lockdowns Won't Be as ...

Keith Knight Interviews Bob on Krugman’s Zombie Book

Keith Knight walks Bob through a meticulous critique of Krugman’s new book on Arguing With Zombies. Topics include the babysitter co-op, the deregulation that allegedly caused the housing bubble, and the tax rates of the 1950s. Mentioned in the Episode and Other Links of Interest: The YouTube version of this interview. Krugman’s latest book, Arguing With Zombies . #CommissionsEarned (As an Amaz...

The Problem with Measuring "Consumer Sentiment"

According to the University of Michigan, the US consumer sentiment index rose to 78.1 in June from 72.3 in May. Many experts see the increase in the index as an important indicator regarding the likely course of the US economy in the months ahead. To gain insight into the economic future, many economists follow a variety of consumer and business surveys. In these surveys, randomly selected cons...
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