Prof. Dr. Karl-Friedrich Israel delivers the Laudatio in honor of Dr. Ron Paul, recipient of the 2026 Hayek Medal awarded at the Annual Conference of the German Hayek Society on May 22, 2026, in Münster, Germany.
Murray N. Rothbard was a system builder in the mode of Ludwig von Mises, Frank H. Knight, and Friedrich A. Hayek. Like these eminent economists, Rothbard concluded that mastery of pure economic theory alone does not get one very far. Social, economic, and political problems are intertwined and complex and require a grand theory to address them. The social theorist must be familiar with such diverse disciplines as epistemology, political philosophy, politics, history, and economics. For Rothbard, the unifying theme of social theory was liberty.
Federal law has long allowed the government to try to denaturalize foreign-born U.S. citizens who officials believe committed fraud to obtain their citizenship.
One of the most successful strategies of the Left’s social democrats and socialists has been their takeover of academia. Over decades, this has gradually transformed the nation’s colleges and universities into hotbeds of anticapitalist and proregime sentiment. From the schools, left-wing ideology has been able to infiltrate nearly all of America’s other institutions as well. There’s a reason why most of America’s media professionals, corporate C-suite managers, and medical personnel generally share a similar antifreedom ideology.
There is a high likelihood that, due to the past large decline in the yearly growth rate of the money supply, the US economy is heading towards an economic bust. Note that the yearly growth rate of money supply fell from 79 percent in February 2021 to minus 7 percent by May 2023.
If prices rise, it is assumed that the same monetary process must be at work; if the quantity of money increases, some kind of “boom” must be lurking. Even a large inflow of commodity money into a free market is thought to generate a mild or temporary version of the business cycle. Its apparent absence is attributed merely to the rarity of such inflows and the cost and slowness of mining, rather than to any fundamental difference in the underlying process.
“It can happen to you, or it can happen with you, but it will happen.” — Mark Tauschek, The Age Of Exponential IT Is Here
First, let me acknowledge the influence of the late Mogambo Guru with the appearance of “freaking” in this article’s title. I considered it an appropriate amplifier. I hope you will, too.
