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Without private property, there is no way to plan for the future, and one’s goods are always subject to confiscation from the more powerful. In other words, a world without private property is a lawless world.
This is partly why Ludwig von Mises equated private property to civilization, writing in Liberalism, “The foundation of any and every civilization, including our own, is private ownership of the means of production. Whoever wishes to criticize modern civilization, therefore, begins with private property.”
The choice we face is between the civilizing and liberating effects of private property and the impoverishment of interventionism and socialism.
At our Supporters Summit in Delray Beach, Florida, this year, more than a dozen of our top faculty gathered to explore how economic freedom undergirds civilization. In this issue of The Misesian, we bring you gently edited transcriptions of three of these insightful lectures plus the highlights of that memorable weekend. The first lecture comes from Senior Fellow Shawn Ritenour, who explains how property and commerce are the building blocks of human cooperation. Only through this cooperation can we reap the benefits of the division of labor and higher productivity, both of which are essential to a rising standard of living.
The second comes from Senior Fellow Alex Pollock, who examines how freedom in money is an essential antidote to state power. There is a reason, Pollock shows, why governments seize control of money at the earliest opportunity.
Finally, we feature Academic Vice President Joseph Salerno’s latest look at how much private markets have succeeded in bringing down the cost of living. Governments everywhere do their best to destroy the benefits of growing industries by inflating away our prosperity, yet resilient markets still are able to generate prosperity.
In this issue you’ll also find plenty of news about the Mises Institute and photos from our most recent events, plus a new book review from perennial favorite David Gordon.
As always, thank you for your support of the Mises Institute. Remember that we’re not just fighting for freedom. We’re fighting for civilization itself.
From the Editor—November/December 2025
In this issue of The Misesian, we explore the choice we face between the civilizing and liberating effects of private property and the impoverishment of interventionism and socialism. Our Supporters Summit spoke to how economic freedom undergirds civilization itself.
Economic Freedom as a Tonic for Social Conflict
Conflicts are not inherent in the operation of an unhampered market economy. There are conflicts between citizens because the government steps in and gives special privileges to some and not to others.
The Fed, Gold, and Crypto: Freedom and Competing Currencies
To stay in power, governments have to keep spending money. They need to give money to their friends, to give money to their supporters, to carry out their various projects, and—most expensive of all—to have wars.
The Danger of Deflation(Phobia)
The deflationary processes have greatly benefited households and businesses under the current fiat dollar standard in recent decades, even though their natural operation has been partially and deliberately stifled by the Fed’s inflationary monetary policy.
Easterly of Eden
Easterly questions if economic development is really development unless all parties have the right and opportunity to consent voluntarily in their own decisions
Donor Spotlight: Rowan Parchi
I've lived in various different parts of the world, and because everything on mises.org is free, I was able to continue my learning from everywhere I was. It's been fantastic.
The Mises Institute Visits Cornerstone University
In early November, the Mises Institute traveled to Cornerstone University in Grand Rapids, Michigan, where we hosted an event for students featuring a series of talks by our faculty and staff on why Generation Z is fed up with the economic status quo.
Talks at Supporters Summit 2025
"Economic Freedom: The Key to Liberty" featured talks on topics ranging from taxes to the Federal Reserve to no-knock raids, our speakers examined the countless ways that governments invent new methods of violating our private property and destroying freedom in the process.
