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.
The Misesian: What was your journey to Austrian economics and the Mises Institute?
Those living in Generation Z are tired of the welfare-warfare state that has dominated political life in America from well before they were born and shows no signs of going away. They would like something new, and you will not be surprised to learn that in my opinion libertarianism is just what they are looking for. Reinterpreting Libertarianism will be an essential guide for young people, particularly those who think of themselves as being on the right rather than the left, who are willing to give the essays in the book the attention that they require.
This article is adapted from a lecture presented at the Mises Student Circle “Why the Economy Is Failing Generation Z” on November 1, 2025, in Grand Rapids, Michigan.
We live in politically interesting times.
The popularity of Donald Trump as a candidate and his two victories has been framed as a big shift on the American right, mirrored by the same shift on the left with the popularity of figures like Bernie Sanders, AOC, and now Zohran Mamdani. So what’s causing this? What factor or central dynamic lies at the core of all this change?
