President's Impact Report — Third Quarter 2023

Mises Scholars and Staff

Dr. Wanjiru Njoya, Mises Institute Scholar-in-Residence, was interviewed on Marcas Ó Conghaile Muirthemne’s podcast More Christ with Gerard Casey where they discussed the new hate crime laws and related topics.

Drs. Joseph Salerno, Patrick Newman, Timothy Terrell, and Jonathan Newman hosted a session titled “Misesian Monetary Economics” at the 2024 Association for Private Enterprise Education conference in Las Vegas.

Patrick Newman: “Ludwig von Mises and Murray Rothbard on Credit Contraction during a Downturn”
Jonathan Newman: “The Price Level Illusion”
Timothy Terrell: “Entrepreneurial Adaptation to Institutional Uncertainty, Asset Specificity, and Economic Growth”
Joseph Salerno: “The History of Economic Thought as a Living Laboratory”

Senior Fellow Dr. Mark Thornton is hosting a new podcast: Unanimity, where thoughts matter, not policy. He explores basic and commonly held concepts of the world and humanity to unlock the mysteries in a way that everyone might be able to agree on. Mises emphasized that what makes humans different and successful as a species is our ability to think and cooperate and this, alongside the widespread political disagreement in society today, is the motivation and justification of the podcast. This podcast will be “occasional” and will not replace the Minor Issues podcast.

Dr. Thornton’s “Population Explosion” article was published in México Libertario: https://mexicolibertario.org/el-desastre-de-la-explosion-de-poblacion-que-nunca-sucedio-por-mark-thornton/

Thornton’s abstract “Ludwig von Mises on Trade, Human Development, and Human Progress,” was published in a Springer publication and was recently listed on Social Science Research Network’s Top Ten download list. You can view the abstract and download statistics at: https://ssrn.com/abstract=4815311.

Dr. Tom DiLorenzo, Mises Institute President, was interviewed on the Money Metal’s podcast. Here is the interview and article summary: https://www.moneymetals.com/news/2024/06/24/thomas-dilorenzo-discusses-federal-reserve-inflation-and-austrian-economics-on-money-metals-podcast-003275

Dr. Jonathan Newman, Mises Institute Henry Hazlitt Research Fellow, was on the Tom Woods Show (episode 2483), discussing Mises’s “Six Lessons” and his article on what Mises has to say in Economic Policy: Thoughts for Today and Tomorrow. https://tomwoods.com/ep-2483-ufcs-renato-moicano-and-mises-six-lessons/

Newman also appeared on Andrew Langer’s “Lunch Hour” on WCBM in Baltimore. He discussed the sixteen Nobel prize-winning economists who wrote an open letter praising Biden’s policies and warning against a potential second Trump administration.

Mises Events

Mises Circle Lake Jackson

On April 13, the Mises Institute returned to Lake Jackson, Texas, with a sold-out crowd, for an event dedicated to Censorship and Official Lies: The End of Truth in America? Speakers included:

Ryan McMaken: “Seditious Conspiracy: A Fake Crime and a Danger to Free Speech”
Daniel McAdams: “A Day in the Life of a ‘Foreign Adversary Controlled’ Application”
Tom DiLorenzo: “How Court Historians Turn Political Villains into Heroes”

The event ended with a message from the great Dr. Ron Paul.

Photos are available at mises.org/LakeJackson24. This event was made possible by our Host Committee Chris Condon, James McMahon, and Jim Nardulli.

Listen to the presentations here.

Human Action Conference 2024

On May 16–18, in Auburn, Alabama, the Mises Institute hosted the Human Action Conference in honor of the 75th anniversary of Ludwig von Mises’s masterpiece.

The conference included lectures lead by: Hans-Hermann Hoppe, Tom DiLorenzo, David Stockman, David Gordon, Joseph Salerno, Patrick Newman, Peter Klein, Paul Cwik, Shawn Ritenour, Guido Hülsmann, Randall Holcombe, Mark Thornton, Robert Murphy, Jeff Herbener, Timothy Terrell, and Jonathan Newman.

15 students attended on scholarships donated by our amazing donors.

Everyone in attendance received a special, leather-bound 75th anniversary edition of Human Action.

Photos are available at mises.org/PhotosHA24. This conference was made possible by our Host Committee Yousif Almoayyed, H. Burton Brackett, Jim and Jane Klingler, The Rodney Fund, Murray and Florence Sabrin, Shone Sadler, Gary and Nina Turpanjian, Thomas Wenck, and Sean Wilks.

Listen to the lectures here.

Rothbard Graduate Seminar

The Rothbard Graduate Seminar celebrated its 25th anniversary with 16 students from different universities and colleges and 7 faculty.

Here’s what our students had to say:

“Participating in the Rothbard Graduate Seminar was an incredibly enriching experience. The depth of knowledge shared by faculty, the engaging discussions, and the organization of the seminar were outstanding. This program is a must for everyone serious about enhancing their understanding of Austrian economics. I highly recommend it to future participants.” —Diogo Augusto Vidal Padre, University of Brasilia
“The knowledge I gained in this seminar not only helped me better understand Mises’s Human Action, but it also increased my desire to further study these topics. The students were very familiar with the literature of the Austrian tradition and the different debates. This introduced me to topics of which I was not aware but now want to study.” —Alan Cloud, Bryan College
“Rothbard Graduate Seminar has been the most rigorous and stimulating study of economics that I’ve had in my life. No other program has furthered my knowledge and interest in studying Austrian economics than RGS.” —Teyoman Gokcek, Florida Southern College
“RGS is the next step for students familiar with Austrian theory, who want to advance to a new level of understanding and make their own contributions to the Austrian tradition.” —Jonathan Yen, Montana State University

Mises Book Club

Under the direction of Mises Fellow Dr. Tate Fegley, ten undergraduate students from Grove City College, Allegheny College, and Oklahoma State University participated in our Spring Virtual Mises Book Club where they met weekly and discussed F.A. Hayek’s The Road to Serfdom.

Here’s what the students had to say about their experience:

“The Mises Book Club is a great experience. You get to explore a great book and discuss complex ideas with like-minded people.” —Reece Smith, Allegheny College
“I greatly enjoyed the Mises Book Club and highly recommend it for anyone getting started in Austrian economics. The discussions brought new insight to my view on The Road to Serfdom and encouraged me to continue my studies in economics.” —Aimee Ganiere, Denver, CO
“The Mises book club was fabulous. It was a great experience to be able to bounce ideas from the book off like-minded people.” —Scott Cross, Grove City College

Newest Publication

Full Reserve Banking versus the Real Bills Doctrine: A Critique of the Monetary Theory of J.R. Rallo by Philipp Bagus was published this quarter. Bagus defends Austrian monetary theory and full reserve banking against the real bills doctrine and fractional-reserve banking in the Misesian and Rothbardian tradition. Bagus explains that only by adopting Austrian monetary theory can the economics discipline reach a true understanding of monetary phenomena.

Mises Alumni

Kesong Wang completed his PhD.

Dr. Jeff Degner joined us as a Mises Fellow. https://mises.org/profile/jeffery-l-degner. Degner was also named the dean of Cornerstone University’s School of Business and Innovation.

Gor Mkrtchian accepted the position of Visiting Assistant Professor of Political Science and International Relations at Valparaiso University. https://mises.org/profile/gor-mkrtchian

Mises Around the World

The Japan Institute for Libertarianism recently translated “Protectionism Doesn’t Decrease ‘Food Insecurity’; It Increases it,” and it was even read on the floor of the Diet, the Japanese parliament, during a live session

The first Denmark Mises Club was hosted by Jonas Ejlersen in Copenhagen in May. The conversation started with “Austrians Anonymous,” where each participant told their story about how they discovered Mises. It was interesting to experience the stories of people who had felt the awakening that Mises had brought to them. Some even had attended Mises University! An attendee even purchased the domain www.mises.dk on the spot, to better spread the news of Austrian economics through communication and networking.

Wall Street Journal

On June 24, The Mises Institute published a full-page ad in the WSJ.

On June 24, Zero Hedge reposted the Mises Institute’s WSJ article on their homepage and X account.

Senior Fellow Dr. Alex Pollock appeared on the WSJ Opinion page:

“Mr. Blinder wants to compare Mr. Biden to former President Franklin Roosevelt, but the current president doesn’t display the supreme deviousness and talent for manipulation, wrapped in rhetorical brilliance, of Roosevelt. There is, however, an important parallel. In 1944, the Democratic Party bosses knew that whoever got nominated for vice president had a high probability of becoming the president, as indeed happened when Roosevelt died three months into his new term. They forced sitting Vice President Henry Wallace to be replaced on the new ticket by Harry Truman, luckily for the country and the world. Are the current Democratic bosses as smart and as responsible as the old pols of 1944?”

Mises Media

The Mises Institute concluded our animated nine-part series on Progressivism titled The Cost of the Progressives. This is the newest addition to our growing Beginners series of videos.

Top 5 Podcast Episodes

FDR’s War Against Civil Liberties (Human Action Podcast)
Did the MMT Camp Correctly Predict the Post-Covid Economy? (Human Action Podcast)
Garett Jones on the Economic Impact of Culture on Immigration (Human Action Podcast)
An Austrian Critique of the New MMT Documentary (Human Action Podcast)
Are American Libertarians Unduly Pessimistic? (Human Action Podcast)