Opening the 40th Mises University, Professor Hülsmann tells how the Austrian school came back from near-extinction—and why Mises U was central to its revival.
Mises U 2026
Mises University is the world’s leading instructional program in the Austrian school of economics. Recordings of the lectures and seminars presented at the Mises Institute, July 19–25, 2026.
Why is water nearly free while diamonds cost millions, when you'd die in three days without one and never miss the other? In 1871, Carl Menger finally solved it.
No graphs, no data, no experiments—just logic. David Gordon on how Austrian economists reason from a single starting point: humans act.
Jeffrey Herbener builds Austrian price theory from the ground up.
Shawn Ritenour shows how the division of labor turns our inequalities into the glue of society, and why the only way to profit in a market is to serve someone else first.
Take the entrepreneur out of the picture, Mises said, and the entire market economy grinds to a halt. Peter Klein on why bearing uncertainty is the most fundamental act in economics.
Try paying for a roof in moonwalk lessons. That's the problem money solves. Sandy Klein on why barter fails and how gold became money.
Your bank says the money in your checking account is yours, available in full, any time. Its own balance sheet says it's holding a fraction of it. Jonathan Newman on what banks actually do with your deposits.
Interest isn't the price of borrowing money or the reward for productive capital. It's the price we put on now over later. Jeffrey Herbener on time preference and the theory of interest.
The socialist calculation problem isn't a museum piece from 1920s Moscow. It's the Bureau of Land Management, this year. Timothy Terrell on why bureaucrats are still groping in the dark.
When savers cut back and consumption falls, most economists cry "recession!" Paul Cwik on why an Austrian sees the opposite: an economy quietly retooling for future growth.
The recession isn't the disease, it's the cure. Patrick Newman on why the Austrians blame the boom, not the bust, and trace it all to one cause.
The textbook model of "perfect competition" bans advertising, price cuts, and better products—the very things we mean by competing. Tate Fegley on why the mainstream picture of monopoly is upside down.
Rent control's cruelest irony: it makes discrimination cheaper. Joseph Salerno on the long-run effects of price caps that almost no one sees coming.
A trade deficit sounds like losing—buying more than you sell. Lucas Engelhardt on why that 200-year-old intuition is exactly backwards, and what a deficit actually means.
No, it isn't Blackstone, and the boomers didn't take it all. Timothy Terrell separates the housing myths from the real reasons you can't afford a house.
A Nobel laureate says some markets are too repugnant to allow and need clever redesign instead. Sandy Klein has a simpler answer: repugnance is just a preference, and the price system already knows what to do with it.
Marx said your logic depends on your class. The Nazis said it depends on your race. Mises had a name for that idea, and an answer to it. Wanjiru Njoya applies it to how we argue about race today.
Washington locked up timberland to stop deforestation, while taxing Canadian lumber, which meant felling more American trees. Timothy Terrell on conservation policy, and following the money.
Everyone wants the one key to economic growth—capital, or technology, or trade. Shawn Ritenour argues there is no single key, and that's exactly what the models keep missing.
We assume people are self-interested in the market and selfless in government. Tate Fegley on why dropping that double standard explains almost everything about how the state actually behaves.
The Fed was sold as a check on Wall Street's power. Wall Street's share of the nation's bank reserves went up after it passed, not down. Patrick Newman on the Federal Reserve as cronyism.
Sociologists blame job instability. Legal scholars blame deregulation. Jeffrey Degner noticed all the clues point back to the same address: the Federal Reserve.
Two of the best American Austrians feuded over a book review, trained no successors, and their school quietly died out. Paul Cwik and Shawn Ritenour on the Austrians you may not know, and the ones we almost lost.
A game show finalist looked at a rigged final round and told his opponent, "I'm going to steal—and then split it with you." He didn't play the game. He changed it. Lucas Engelhardt on entrepreneurs and game theory.
"Their red ink is your black ink." Jonathan Newman on what MMT leaves out; namely, how the government actually makes the payment.
A book so dangerous it couldn't be printed: it passed hand to hand in manuscript for twenty-five years. Mark Thornton on the underground text that founded modern economics.
Successful entrepreneurs are all Austrians, Per Bylund says. They just never had the words for it.
Even in a world of gold, silver, and costly mining, whoever got the new money first still came out ahead. Jeffrey Degner on why hard money doesn't repeal the Cantillon effect, and why fiat makes it far worse.
Tuition is up 1,200% since 1980. Enrollment is about to fall off a cliff. Peter Klein argues the real problem isn't any of the things people usually name.
The Singer Building and the panic of 1907. The Empire State and the Depression. The Burj Khalifa and 2008. Lucas Engelhardt on why the world's tallest buildings keep opening at exactly the wrong moment.
Strip away the mystique and ChatGPT is a next-word predictor with some randomness—the same trick as the spell-checker asking if you meant "dog." Peter Klein on the economics of AI, minus the hype.
Dr. Wanjiru Njoya argues that private property is the indispensable cornerstone of liberty and civilization, and that anti-discrimination laws—however well-intentioned—are a form of aggression against property.
The US has 20 to 30 million government regulations. Big corporations have legal departments. Startups have you. Mark Thornton on who the "regulatory thicket" is really built to protect.
Build a model no real market could ever match, call it the ideal, then diagnose every real market as a failure for falling short. Jonathan Newman on the equilibrium trap Mises warned against.
Lucas M. Engelhardt
David Gordon
Shawn Ritenour
Jeffrey M. Herbener
Joseph T. Salerno
Peter G. Klein
The Theory and Method faculty panel takes questions from Mises University students.
The Policy and History faculty panel takes student questions on the state of the movement and the prospects for freedom.
Murray Rothbard wasn't born an Austrian economist. Patrick Newman on how a Columbia-trained mainstream PhD became Mises's heir—in the hundredth year since Rothbard's birth.
The liberal phase of the French Revolution—the part an American would recognize—lasted about six months. Everything after was its opposite. Ryan McMaken on why liberalism keeps getting blamed for a Terror it didn't cause.
"Free markets at home, empire abroad" isn't just incoherent—it's arithmetically impossible. Connor O'Keeffe on why you can't fund the warfare state without the income tax and the Fed.
Thatcher, Clinton, Obama, Trump—everyone gets called a neoliberal, which is why most free-market economists say the word means nothing. Tho Bishop argues it names something precise.
Egalitarians mock Adam Smith's invisible hand as free-market superstition, then explain every billionaire with an invisible hand of their own. Joshua Mawhorter on the luck argument for redistribution.
We remember the Declaration's first paragraph and forget its last—the one where thirteen separate states declare themselves free and independent. Larsen Plyler on a legacy that got lost.
Tate Fegley uses Joseph Salerno's work to draw out the fundamental differences between Mises and Hayek arguing that treating the two as interchangeable obscures the distinctly Misesian paradigm.
Per Bylund takes up Mises's claim that the entrepreneur-promoter cannot be defined praxeologically.
