Interest rate monetary policy

Do Central Banks Determine Interest Rates?

While most economists believe that central banks set interest rates, in reality, they are set by time preferences of individual actors in the economy. Central bank influences on interest rates ultimately result in setting off boom-and-bust cycles.

Mises Wire Frank Shostak
Pirates

Monetary Policy Is Monetary Piracy

Even Milton Friedman—who never supported gold as money—admitted that a monetary system based on gold  would “take care of itself.” Instead, our money is created and manipulated by the politicized hand of government and is based on theft.
George Ford Smith
National Security

Trump’s National Insecurity Strategy

President Trump’s latest national security initiative is unlikely to make the US secure from outside danger. For that matter, Trump’s own internal policies are making this country less secure.
Vincent Cook
Friday Philosophy with David Gordon

Assessing Libertarian Foreign Policy: Rothbard vs. Friedman

In this week’s Friday Philosophy, Dr. David Gordon assesses the “libertarian” foreign policy prescriptions of Murray Rothbard and David Freidman. Naturally, Rothbard’s view—built upon principles of natural law—stands above Freidman’s less-principled “pragmatism.”
David Gordon
The Misesian
The latest issue of The Misesian discusses why a world without private property is a lawless world.

Austrian Economic Research Conference 2026

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Auburn, AL

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.

Economics for Beginners

Our Complex World

Complexity: Liberty vs. Power

Can we find freedom and opportunity in an uncertain future? This series explores the complex systems that shape our world.
The Costs of the Progressives

Progressivism

The battle between American individualism and modern progressive collectivism.
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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Mises Institute