Three Cheers for the Mises Institute
Austrian economics puts forth the axiom of human action—a nonfalsifiable, self-evident truth. From this axiom, it derives logical conclusions—truths—about individual human behavior, social order, and cooperation, i.e., markets. The conclusions drawn by this logical analysis are such that the optimal allocation of resources, the optimal modes of production and consumption, etc. each can only emerge—and therefore only be known—as the result of the free choice and voluntary actions of individuals. In fact, the only meaningful definition of “optimal” market conditions or outcomes in this framework are those that would best serve to satisfy the wants and preferences of individuals under conditions of scarcity. These wants and preferences themselves can only be known as they are demonstrated through free choice and voluntary action.
The Austrian conception of economic science, and its adherents, commits an egregious heresy against the modern religion—whatever it may be called in any particular time or place—for they so often embrace a political and legal philosophy which permits this free exercise of choice and voluntary action on the part of the individual, constrained only by the rights of other individuals.
Is it any wonder, then, why this great liberal intellectual tradition emerged in the time and the place that it did? Some argue that it was an accident of history, a coincidence. I, like so many others before me, believe that these ideas emerged in the West precisely because they are accordant with the Judeo-Christian understanding of the inherent value and dignity of the human person. Our ideological opponents, in more ways than one, seek to replace the invisible hand with the iron fist.
The Mises Institute is one of precious few institutions where scholars still possess the knowledge necessary to teach the principles of the free market, and the political and legal philosophy which engendered it. Fewer still possess the courage to profess and defend these ideas in our Jacobin age.
I myself have been a great beneficiary of the immense wealth of educational materials which the Mises Institute has provided to the public for free. The Institute counts among its scholars the very man who first introduced me (impersonally, of course) to the true histories of the United States, the Catholic Church, and Western civilization. It counts among its board members the greatest living American statesman and champion of liberty.
It is for this reason that I write this article: to express my profound gratitude to the Mises Institute, its board, its faculty, its supporters, and all of the individuals who have contributed to its mission of scholarship and education. The contributions and the individuals number too many to list them all. It is nigh time that I made a small contribution of my own.