In the late 1960’s Edmund Phelps and Milton Friedman challenged the popular view that there can be a sustainable trade-off between inflation and unemployment.

July 2026 will mark the 250th anniversary of the Declaration of Independence. Here at the Mises Institute we plan to commemorate this important anniversary in a number of ways. Chief among these will be remembering the Declaration of Independence as the radical and revolutionary document that it really was. That is, we won’t be doing what the regime and media will be doing this year. We won’t use the anniversary as an occasion to celebrate the American government, its military, and the power that the regime has seized for itself in the centuries since the Declaration was adopted.

The Mises Institute has named Dr. Patrick Newman the Murray N. Rothbard Research Fellow. He is the first scholar to receive this title, one well deserved given his prolific scholarly work in recent years, which builds on the legacy of the late Murray N. Rothbard.

The real scandal of our time is not that artificial intelligence is replacing human labor. The scandal is that so much of that labor was misallocated to begin with. AI is not the killer—it is the coroner.

“The stronger the American State is allowed to grow, the higher its record of criminality will grow, according to its opportunities and temptations.”—Albert Jay Nock, “The Criminality of the State”

In an article published by Chronicles, titled “Wokeness and Capitalism,” Neema Parvini argues that “the woke prerequisites – mass immigration, feminism, equality laws, etc. – are the inevitable fruits of capitalism.” He argues that capitalism “pretends to make individuals ‘sovereign’ after drawing them into the labor pool, while neutralizing their attempts at political organization.”

History often remembers the 1962 coup in Myanmar as a sudden seizure of power by a power-hungry general. However, from the failed 1948 coup to the one-party authoritarian socialist regime of the 1960s, the roots of Myanmar’s military dictatorship were grown in the soil of radical leftism and their totalitarian ideology. To understand why the military refuses to leave the political stage today, it’s important to look at the politicians who taught the generals that they were the only ones capable of leading a revolution.

Timothy Terrell is the T. B. Stackhouse Professor of Economics at Wofford College and Senior Fellow with the Mises Institute. He is the Senior Associate Editor of the Quarterly Journal of Austrian Economics. He received his PhD in economics from Auburn University. His research focuses on regulatory and environmental policy issues.

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