The Mises Institute, short name for Ludwig von Mises Institute for Austrian Economics, is a tax-exempt educative organization located in Auburn, Alabama, United States. It is named after Austrian School economist Ludwig von Mises (1881–1973) because it promotes teaching and research in the Austrian School of economics and misesian views on social and political philosophy.
The Mises Institute was founded in 1982 by Lew Rockwell, Burton Blumert, and Murray Rothbard, following a split between the Cato Institute and Rothbard, who had been one of the founders of the Cato Institute. Additional backing for the founding of the Institute came from Mises's wife, Margit von Mises, Henry Hazlitt, Lawrence Fertig, and Nobel Economics Laureate Friedrich Hayek. Through its publications, the Institute promotes libertarian, paleolibertarian and anarcho-capitalist political theories and a form of heterodox economics known as praxeology ("the logic of action").
|Motto||Austrian Economics, freedom and peace|
|Founder(s)||Lew Rockwell, Murray Rothbard, Burton Blumert|
|Mission||To advance the Misesian tradition of thought through the defense of the market economy, private property, sound money, and peaceful international relations, while opposing government intervention as economically and socially destructive.|
|Focus||Education, Austrian economics, libertarianism|
|Key people||Lew Rockwell (Chairman)|
Jeff Deist (President)
Joseph Salerno (Editor
Quarterly Journal of Austrian Economics)
The Ludwig von Mises Institute was established in 1982 in the wake of a dispute which occurred in the early 1980s between Murray Rothbard and the Cato Institute, another libertarian organization co-founded by Rothbard. Llewellyn Rockwell has stated that the Mises Institute met strong opposition from parties affiliated with the Koch family, Rothbard's former backers at Cato. Rothbard was the Mises Institute's vice president and head of academic programs until his death in 1995.
The Institute states that its founding ambition is to be "the research and educational center of classical liberalism, libertarian political theory, and the Austrian School of economics". It has reprinted works by Mises, Rothbard, Hayek, and others. It presents the annual "Austrian Economics Research Conference" (AERC) and "Mises University", at which Austrian School thinkers meet, and Institute personnel teach and advise students, respectively. The Institute reports that its library holds nearly 35,000 volumes, including Rothbard's personal library.
Early after its founding, the Mises Institute was located at the business department offices of Auburn University, and relocated nearby to its current site in 1998. According to a story in the Wall Street Journal, the Institute chose its Auburn location for low cost of living and "good ol' Southern hospitality". The article goes on "to make an additional point", that "Southerners have always been distrustful of government," making the South a natural home for the organization's libertarian outlook. The institute has a staff of 16 Senior Fellows and about 70 adjunct scholars from the United States and other countries.
In a 2006 article published on the Wall Street Journal's website, Kyle Wingfield credited the Institute for helping make the "Heart of Dixie a wellspring of sensible economic thinking." Wingfield pointed to the Institute's publication and promotion of the work of Mises and other Austrian economists, who he characterizes as advocating "limited government, lower taxes, stronger private property rights and less business regulation."
The Institute has published works by authors critical of various forms of government, including democracy, which was called coercive, incompatible with wealth creation, replete with inner contradictions, and a system of legalized graft. To many of these authors, the distinction lies not in the form of government, but in the degree of liberty individuals in a society actually enjoy. Lew Rockwell notably said "the best way to teach your kids about taxes is by eating thirty percent of their ice cream." 
The Mises Institute has been criticized by some libertarians for the incorporation of paleolibertarian and right-wing cultural views, including the positions taken by some of its leading figures on topics such as race, immigration, and the presidential campaign of Donald Trump. Often these criticisms affirm that there are aspects of the paleolibertarian ideology that supposedly are at odds with the views of the historical Ludwig von Mises. In an article written on Institute Chairman Lew Rockwell's website, Jacob Huebert observes that socially liberal libertarians have often accused the Mises Institute of racism. He calls the charges erroneous and argues that they might stem from the support of some Institute scholars for immigration restrictions, its support of Confederate secession, or its uncompromising stand on libertarian issues and property rights.
In 2003, Chip Berlet of the Southern Poverty Law Center (SPLC) described the Mises Institute as "a major center promoting libertarian political theory and the Austrian School of free market economics", also noting Rothbard's opposition to child labor laws and the anti-immigrant views of other Institute scholars. Heidi Beirich, also with the SPLC, describes the Institute as "a hard-right libertarian foundation".
The Mises Institute makes available a large number of books, journal articles, and other writings online, and archives various writings on its website. Its Quarterly Journal of Austrian Economics discusses Austrian economics. It published the Journal of Libertarian Studies from 1977 to 2008. The Mises Review has been published since 1995, the quarterly review of literature in the social sciences being currently edited by David Gordon.
The Institute presents the annual Schlarbaum Prize for "lifetime defense of liberty", a $10,000 prize given to a public intellectual or scholar. Laureates have included U.S. Congressman Ron Paul and economists Walter Block and Hans-Hermann Hoppe. Other honors include the Murray Rothbard Medal (also won by Block, Hoppe and Paul, as well as by economic historian Gary North), the Ludwig von Mises Entrepreneurship Award, the O.P. Alford III Prize, the Douglas E. French Prize, the Elgin Groseclose Award for money writing, and the Fertig Prize.
Noted scholars include:
In memoriam.(subscription required)
It also promotes a type of Darwinian view of society in which elites are seen as natural and any intervention by the government on behalf of social justice is destructive. The institute seems nostalgic for the days when, 'because of selective mating, marriage, and the laws of civil and genetic inheritance, positions of natural authority [were] likely to be passed on within a few noble families.'
Argumentation ethics is a proposed proof of the libertarian principle of self-ownership developed in 1988 by Hans-Hermann Hoppe, a Professor Emeritus with the University of Nevada, Las Vegas College of Business and Ludwig von Mises Institute Senior Fellow. Responses have mainly come from Hoppe's colleagues at the Mises Institute, among whom the argument's reception has been mixed.Argumentation ethics aims to prove that arguing against self-ownership is logically incoherent. Hoppe states that if argumentation praxeologically presupposes the norm that both the speaker and the listener are allowed to exercise exclusive control over their respective physical bodies in order to settle a disagreement or resolve a conflict over scarce resources, then it follows that propositions propounded during such argumentation cannot contradict this norm without falling into a (dialectical) performative contradiction between one's actions and words. Thus Hoppe concludes that despite aggressive behaviour being possible, it can not be argumentatively justified.Austrian School
The Austrian School is a heterodox school of economic thought that is based on methodological individualism—the concept that social phenomena result from the motivations and actions of individuals.The Austrian School originated in late-19th and early-20th century Vienna with the work of Carl Menger, Eugen Böhm von Bawerk, Friedrich von Wieser and others. It was methodologically opposed to the Prussian Historical School (in a dispute known as Methodenstreit). Current-day economists working in this tradition are located in many different countries, but their work is still referred to as Austrian economics. Among the theoretical contributions of the early years of the Austrian School are the subjective theory of value, marginalism in price theory and the formulation of the economic calculation problem, each of which has become an accepted part of mainstream economics.Since the mid-20th century, mainstream economists have been critical of the modern day Austrian School and consider its rejection of mathematical modelling, econometrics and macroeconomic analysis to be outside mainstream economics, or "heterodox". Although the Austrian School has been considered heterodox since the late 1930s, it attracted renewed interest in the 1970s after Friedrich Hayek shared the 1974 Nobel Memorial Prize in Economic Sciences and following the 2008 global financial crisis.Center for Libertarian Studies
The Center for Libertarian Studies (CLS) was a libertarian and anarcho-capitalist oriented educational organization founded in 1976 by Murray Rothbard and Burton Blumert, which grew out of the Libertarian Scholars Conferences. It published the Journal of Libertarian Studies from 1977 to 2000 (now published by the Ludwig von Mises Institute), a newsletter (In Pursuit of Liberty), several monographs, and sponsors conferences, seminars, and symposia.
Originally headquartered in New York, it later moved to Burlingame, California.
Until 2007, it supported LewRockwell.com, web publication of CLS vice president Lew Rockwell. It had also previously supported Antiwar.com.David Gordon (philosopher)
David Gordon (born April 7, 1948) is an American libertarian philosopher and intellectual historian influenced by Rothbardian views of economics. Peter J. Boettke, in his Reason Foundation "Reason Papers," Issue No. 19, Fall 1994, describes Gordon as "a philosopher and intellectual historian who is deeply influenced by the Rothbardian strand of economics." He is a senior fellow at the Ludwig von Mises Institute and editor of The Mises Review.George Reisman
George Gerald Reisman (; born January 13, 1937) is an American economist. He is Professor Emeritus of Economics at Pepperdine University and the author of The Government Against the Economy (1979), which was praised by both F. A. Hayek and Henry Hazlitt, and Capitalism: A Treatise on Economics (1996). He is known as an advocate of free market or laissez-faire capitalism.Hans-Hermann Hoppe
Hans-Hermann Hoppe (; German: [ˈhɔpə]; born September 2, 1949) is a German-born American Austrian School economist, and paleolibertarian anarcho-capitalist philosopher. He is Professor Emeritus of Economics at the University of Nevada, Las Vegas (UNLV), Senior Fellow of the Ludwig von Mises Institute, and the founder and president of the Property and Freedom Society.Hoppe identifies as a culturally conservative libertarian. Some of his remarks and ideas have provoked controversy among his libertarian peers and his colleagues at UNLV. His belief in rights of property owners to establish private covenant communities, from which homosexuals and political dissidents may be "physically removed," has proved particularly divisive. Hoppe also garners controversy due to his support for restrictive limits on immigration which critics argue is at odds with libertarianism and anarchism.Henry Hazlitt
Henry Stuart Hazlitt (; November 28, 1894 – July 9, 1993) was an American journalist who wrote about business and economics for such publications as The Wall Street Journal, The Nation, The American Mercury, Newsweek, and The New York Times. He is widely cited in both libertarian and conservative circles.Jesús Huerta de Soto
Jesús Huerta de Soto Ballester (born 1956) is a Spanish economist of the Austrian School. He is a professor in the Department of Applied Economics at King Juan Carlos University of Madrid, Spain and a Senior Fellow at the Ludwig von Mises Institute.Journal of Libertarian Studies
The Journal of Libertarian Studies (JLS) was a scholarly journal published by the Ludwig von Mises Institute and Lew Rockwell. It was established in the spring of 1977 by Murray Rothbard who also served as its editor until his death in 1995. The journal had been published by the Center for Libertarian Studies, but moved to the Mises Institute in 2000. Publication ceased in 2008.
The focus of the journal was "libertarian theory", with a strong influence of Austrian School and anarcho-capitalism, which has in the past included articles from the fields of history, economics, and philosophy.
The journal was originally a quarterly publication under Rothbard, and later under Hans-Hermann Hoppe and Roderick Long. In 2008, it was changed to an annual print and online publication, edited by Thomas Woods.Lew Rockwell
Llewellyn Harrison Rockwell Jr. (born July 1, 1944) is an American author, editor, and political consultant. A libertarian and a self-professed anarcho-capitalist, he founded (and is chairman of) the Ludwig von Mises Institute, a non-profit dedicated to promoting the Austrian School of economics. He also started a website in 1999, LewRockwell.com, that features articles and blog entries by a number of right-wing libertarian columnists and writers.Mark Thornton
Mark Thornton (born June 7, 1960) is an American economist of the Austrian School. He has written on the topic of prohibition of drugs, the economics of the American Civil War, and the "Skyscraper Index". He is a Senior Fellow with the Ludwig von Mises Institute in Alabama and a Research Fellow with the Independent Institute.Murray Rothbard
Murray Newton Rothbard (; March 2, 1926 – January 7, 1995) was an American heterodox economist of the Austrian School, historian, and a political theorist whose writings and personal influence played a seminal role in the development of modern right-libertarianism. Rothbard was the founder and leading theoretician of anarcho-capitalism, a staunch advocate of historical revisionism and a central figure in the 20th-century American libertarian movement. He wrote over twenty books on political theory, revisionist history, economics and other subjects. Rothbard asserted that all services provided by the "monopoly system of the corporate state" could be provided more efficiently by the private sector and wrote that the state is "the organization of robbery systematized and writ large". He called fractional-reserve banking a form of fraud and opposed central banking. He categorically opposed all military, political and economic interventionism in the affairs of other nations. According to his protégé Hans-Hermann Hoppe, "[t]here would be no anarcho-capitalist movement to speak of without Rothbard".Economist Jeffrey Herbener, who calls Rothbard his friend and "intellectual mentor", wrote that Rothbard received "only ostracism" from mainstream academia. Rothbard rejected mainstream economic methodologies and instead embraced the praxeology of his most important intellectual precursor, Ludwig von Mises. To promote his economic and political ideas, Rothbard joined Llewellyn H. "Lew" Rockwell, Jr. and Burton Blumert in 1982 to establish the Ludwig von Mises Institute in Alabama.Quarterly Journal of Austrian Economics
The Quarterly Journal of Austrian Economics is a quarterly peer-reviewed academic journal covering heterodox economics published by the Ludwig von Mises Institute. It was established in 1998 after the Murray Rothbard-created publication, The Review of Austrian Economics, was transferred to other editors and then to George Mason University. The journal covers economics from an Austrian School perspective. The current editor-in-chief is Joseph Salerno.
A 2010 study identified 62 regularly published heterodox journals and used various empirical criteria to compare several aspects of their research quality. The Quarterly Journal's Bibliographic Ranking was ranked 33rd out of the 62 heterodox economics journals surveyed; its reputation among peers (both mainstream and heterodox) was ranked 57th.Ralph Raico
Ralph Raico (; October 23, 1936 – December 13, 2016) was an American libertarian historian of European liberalism and a professor of history at Buffalo State College.Robert P. Murphy
Robert Patrick Murphy (born 23 May 1976) is an American economist, consultant and author. He is an economist with the Institute for Energy Research (IER) specializing in climate change and a research fellow with the Independent Institute, He was a senior fellow in business and economic studies at the Pacific Research Institute, and he is a senior fellow at the Ludwig von Mises Institute. In addition to economic subjects, Murphy writes about, and has presented an online video class in, anarcho-capitalism on the Mises Institute website.Murphy is also noteworthy, and has been criticized by economists Brad DeLong and Paul Krugman for, repeatedly predicting that the quantitative easing practiced by the Federal Reserve in the late 2000s would create double-digit inflation and economic collapse—predictions that did not come to fruition. Murphy is a Christian, and has written articles expressing support for a literal interpretation of the Bible and skepticism of evolutionary theory.Roderick T. Long
Roderick Tracy Long (born February 4, 1964) is an American professor of philosophy at Auburn University and libertarian blogger. He also serves as an editor of the Journal of Ayn Rand Studies, director and president of the Molinari Institute, and a Senior Fellow at the Center for a Stateless Society.Roger Garrison
Roger Wayne Garrison (born 1944) is an American professor of economics at Auburn University, and an adjunct scholar of the Ludwig von Mises Institute.
He is a proponent of the Austrian School of economics and wrote the book Time and Money, which presents a graphical framework for capital-based macroeconomics and offers a critique of Keynesian graphical analysis. Garrison received an electrical engineering degree in 1967 from the University of Missouri–Rolla and a master's degree in economics from the University of Missouri–Kansas City in 1974. Garrison received his Ph.D. in economics from the University of Virginia in 1981. Garrison has lectured all over the world, including the London School of Economics.
Mark Skousen, in Vienna and Chicago refers to Garrison as "one of the premier Austrian macroeconomists today." (p. 113)Thomas DiLorenzo
Thomas James DiLorenzo (; born August 8, 1954) is an American economics professor at Loyola University Maryland Sellinger School of Business. He identifies as an adherent of the Austrian School of economics. He is a research fellow at The Independent Institute, a senior fellow of the Ludwig von Mises Institute, Board of Advisors member at CFACT, and an associate of the Abbeville Institute. He holds a Ph.D. in Economics from Virginia Tech.Walter Block
Walter Edward Block (born August 21, 1941) is an American Austrian School economist and anarcho-capitalist theorist. He currently holds the Harold E. Wirth Eminent Scholar Endowed Chair in Economics at the J. A. Butt School of Business at Loyola University New Orleans, and is a senior fellow of the Ludwig von Mises Institute in Auburn, Alabama. He is best known for his 1976 book Defending the Undefendable, which takes contrarian positions in defending acts which are illegal or disreputable but Block argues are actually victimless crimes or benefit the public.
Austrian School economists