Joseph T. Salerno

Joseph T. Salerno received his PhD in economics from Rutgers University. He is professor emeritus of economics in the Lubin School of Business of Pace University in New York City. He is the editor of the Quarterly Journal of Austrian Economics and the Academic Vice President of the Mises Institute where he serves on the Board of Directors. Professor Salerno also held the inaugural Peterson-Luddy Chair in Austrian Economics at the Mises Institute and the inaugural John V. Denson II Endowed Professorship in the economics department at Auburn University.

Professor Salerno is a research associate of the Foundations of the Market Economy in the economics department at New York University (1991-2018) and is on the Board of Editors of five academic journals. Salerno has published over 70 articles and essays in refereed journals and scholarly books. His latest book is The Austrian School of Economics in the 21st Century: Evolution and Impact (Springer 2022) coedited with Annette Godart-van der Kroon. He is the author of Money: Sound and Unsound (Mises Institute 2010) and is currently writing a book with Patrick Newman on the development of Murray N. Rothbard as a Misesian economist. In the last few years, he has published several articles appearing in peer-review journals including Oxford Economic Papers, The European Journal of the History of Economic Thought, and The Journal of Institutional Economics.

He has testified before US Congress several times and published numerous op eds online at mises.org, forbes.com, Christian Science Monitor.com, Wall Street Oasis.com, and Economic Policy Journal.com.

Salerno lectures frequently throughout the US and internationally, and more than 50 of his lectures are available online. He has also been interviewed on broadcast and online radio and TV shows including Bloomberg radio, CSPAN, Fox News, Fox Business Network, New York Lawline, and RTtelevision.

He blogs at Power & Market.

Articles

Austrian Economics on the March

01/24/2025 Power & Market Joseph T. Salerno

I have long argued that Austrian economics should be developed not as an alternative to the current academic discipline of economics but as a replacement for it. We will know that this goal has been...

Economists and the State: From Enemies to Friends

12/12/2024 The Misesian Joseph T. Salerno

Economists and the state are natural enemies. The central principle of economics is that the means for improving human well-being—what economists call “goods”—are naturally scarce and must be produced...

Central Banker Affirms, Deflation “Is a Benefit for the People”

12/02/2024 Power & Market Joseph T. Salerno

When was the last time you heard the head of a central bank assert that deflation is beneficial to the economy, even if only as a “correction” of previous inflation? Well, if you were paying attention...

Publications

War and the Money Machine: Concealing the Costs of War beneath the Veil of Inflation

08/21/2021 Joseph T. Salerno

In every great war monetary calculation was disrupted by inflation. … The economic behavior of the belligerents was thereby led astray; the true consequences of the war were removed from their view. One can say without exaggeration that inflation is

Nation, Migration, and Trade: Essays on Mises and the Classical Economists

09/03/2020 Joseph T. Salerno

1. Mises on Nationalism, the Right to Self-Determination, and the Problem of Immigration 1. Introduction In the current discussion about immigration, Ludwig von Mises is often invoked by libertarians as a staunch proponent of free trade in the broad

The Rothbard Reader

03/02/2016 Joseph T. Salerno Matthew McCaffrey

From the Introduction by Joseph T. Salerno and Matthew McCaffrey. Few economists manage to produce a body of work that boasts a serious following twenty years after their deaths. Murray N. Rothbard is a rare exception. More than two decades since his

Media

The “New Economists” and Military Keynesianism

05/19/2025 Joseph T. Salerno

Joseph Salerno reveals how JFK's economists used war spending and deficits to erode liberty under the guise of stability and growth.

Should Economists Champion Fed “Independence”?

04/25/2025 Robert P. Murphy Joseph T. Salerno

As Trump challenges Powell and the Fed’s authority, Dr. Joe Salerno joins Bob to dive into whether "central bank independence" really protects the economy—or just shields elite power.

Anti-MMT Panel

03/25/2025 Per Bylund Lucas M. Engelhardt Joshua Mawhorter Jonathan Newman Patrick Newman Joseph T. Salerno

This panel exposes flawed assumptions of Modern Monetary Theory, including the origins of money, government spending, job guarantees, entrepreneurship, and economic growth.