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The Ludwig von Mises Institute

Advancing Austrian Economics, Liberty, and Peace

Advancing the scholarship of liberty in the tradition of the Austrian School

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Before Adam Smith There was Chydenius

The work of economist Anders Chydenius, which predates Smith’s The Wealth of Nations, provided a radically free-market voice for Scandinavia in the 18th century as Chydenius battled against mercantilists and those who thought government well-suited to plan economies with laws and edicts.


The Ethics of Entrepreneurship and Profit

In a free market, entrepreneurs profit by providing something of value that people will voluntarily purchase.


Mises Economics Blog

David Howden: The Regret of War
We all have regrets. But if you find yourself consistently ruing your past decisions, maybe it's best to rethink your rashness. Writing in the Financial Times this weekend, Richard McGregor gives some perspective on Americans' change of he ... More »

Peter G. Klein: Peter Thiel on Monopoly and Competition
Entrepreneur and venture capitalist Peter Thiel has an interesting Wall Street Journal piece on innovation, firm growth, and market structure, misleadingly titled Competition Is for Losers. Thiel's essay is ostensibly about the defense of monopol ... More »

Per Bylund: Sweden Politically Deadlocked
Updated: The poll stations in the Swedish general election closed a mere two three hours ago. With about 60% 90% of voting districts already counted, it looks like the voter turnout has increased - and that voters have caused quite a mess in the ... More »

Hunter Lewis: Noah Smith: Keynes Misunderstood, Maligned by Austrian Critics
In a September 11 Bloomberg article, economist Noah Smith claims that Keynes wasn’t a “ ‘socialist’ “or even a “'progressive’. He did not favor “a command economy.” Yes he “ was in favor of some amount of wealth redistribution and government i ... More »

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In the Mises Store

America's Great Depression

This book applies Austrian business cycle theory to understanding the onset of the 1929 Great Depression. Rothbard first summarizes the Austrian theory and offers a criticism of competing theories, in... More »

Lessons for the Young Economist Teacher's Manual

This is the teacher's manual to accompany the student textbook, Lessons for the Young Economist. The manual follows the student text very closely (the student text is needed separately, either ... More »

Concise Guide to Economics

To understand economics is to understand the practical case for freedom. The great merit of this book is to bring out the connection in the clearest and shortest possible way. The Concise Guide To Ec... More »

Newly Updated E-books

"Woodrow Wilson's Defeat in Yugoslavia: The End of a Multicultural Utopia"

Making Economic Sense

Anatomy of the State

The Private Production of Defense

Liberty and Property



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"Why Capitalism?"
Forget Ronald Reagan; Henry Hazlitt was the true “great communicator.” Espe... (more) Register Now

"Human Action: Austrian Economics & Philosophy"
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"Broken Capitalism"
This course will use some of the best writing of Henry Hazlitt and Ludwig v... (more) Register Now

"Anatomy of the Fed"
This course covers both the theory and history behind the Federal Reserve, ... (more) Register Now

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