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[Prepared for delivery in Hamburg, Germany, upon receiving the Roland Baader Prize.] Thank you very much for the great honor you have conferred on me. The Roland Baader Prize is named for an outstanding champion of the free market and disciple of Ludwig von Mises. As I am the founder of the Ludwig von Mises Institute, you will not be surprised to

If you want to understand Murray Rothbard, you need to keep one principle in mind. If you remember this, you will have the key to grasping his thought. And you should want to understand Murray Rothbard, because he was the greatest American defender of liberty in the twentieth century. The principle in question is that Murray Rothbard had a

[ Give now to support the Mises Institute in 2015. ] Ludwig von Mises, when I met him, was exactly what you would have expected: a dignified, beautifully mannered gentleman from what Murray Rothbard called an older and better time. A genius, Mises was a great economist of the twentieth century, and a hero in his personal battles with Marxism,

As the financial crisis of 2008 took shape, the policy recommendations were not slow in coming: why, economic stability and American prosperity demand fiscal and monetary stimulus to jump-start the sick economy back to life. And so we got fiscal stimulus, as well as a program of monetary expansion without precedent in US history. David Stockman

Ronald Reagan used to be called the Teflon president, on the grounds that no matter what gaffe or scandal engulfed him, it never stuck: he didn’t suffer in the polls. If Reagan was the Teflon president, the military is America’s Teflon institution. Even people who oppose whatever the current war happens to be can be counted on to “support the

Writes Brian Doherty : Many aspects of America’s future are at risk as politicians and public intellectuals respond to the current economic crisis. The politicians are shaping how (far too much of) Americans’ money, resources, and precious bodily fluids will be expended, both now and in the very far future. Beyond the (completely insane) spending

Some of our assumptions are so deeply embedded that we cannot perceive them ourselves. Case in point: everyone takes for granted that it’s normal for a country of 320 million to be dictated to by a single central authority. The only debate we’re permitted to have is who should be selected to carry out this grotesque and inhumane function. Here’s

35 years ago, I was worried. I was working at a free-market think tank at a university, and I could see that Austrian economics was becoming less and less influential. Who would speak for untrammeled freedom and capitalism? Sound money and no central banking? Would economics entirely betray its great advocates of liberty from Menger to Mises, in

Amid all the hysteria surrounding Donald Trump, clear and sober analyses of who he is and what to expect have been few and far between. I’ve already seen numerous progressives warning that Trump intends to eviscerate entitlements. It’s as if facts never enter the progressive consciousness. Their opponents are an undifferentiated blob and hold what

When I first met Henry Hazlitt, I was, of course, in awe. After all, a birthday gift of Economics in One Lesson had changed my life. I was then an editor at Arlington House Publishers, where I worked with Mises. Arlington brought Hazlitt back into print, and published his new works as well. He was 73, I was 24. Little did I suspect that this