There is not a single person in the world, or even a group of a hundred persons, that could make me. I am Mises University, the annual flagship week-long Austrian economics mini-university held at the Mises Institute in Auburn, Alabama. I start with online applications by students following an announcement on mises.org. I therefore require all of the technology that goes into producing internet communications that involves thousands of individuals, over decades, from all over the world. 

Human beings act. That is: they engage in purposeful behavior aimed at transforming their conditions into a state they prefer more. This fundamental axiom is apodictically certain. To deny it is to affirm it—for even the act of denial is itself an action: a purposeful attempt to assert a position. Thus, the truth of human action is not contingent on empirical verification; it is valid in all possible worlds where action occurs. It is a category of the mind, a necessary precondition for understanding human behavior.

Lectures in Austrian Economics, Volume 1 by Jesús Huerta de Soto. (Palgrave Macmillan 2024)

In a previous article, I made the case that the policy of inflation—both from the Continental Congress and the states—not only led to detrimental consequences, but threatened the cause of independence itself. During the course of researching and writing, I discovered that I was barely scratching the surface of this topic—finding quote after quote, resource after resource.

On Tuesday, the yield on the 10-year Treasury surged nearly 10 basis points in a few hours, rising above 4.49 percent. The rising yield came after the release of new price-inflation data showing that CPI growth had hit a five-month high and remained well above the Federal Reserve’s two-percent target for price inflation. Rising yields often indicate that bond investors believe price inflation will continue to grow, so it was probably no coincidence that bond yields—especially on longer-term bonds—jumped following the report’s release.