Mises Media

The Ralph Raico Memorial Lecture, sponsored by Murray and Florence Sabrin. Presented at the Mises Institute in Auburn, Alabama.

Neo-Malthusian Paul Ehrlich recently passed away, but not before his false doomsday claims made his a very wealthy man. Original article: https://mises.org/mises-wire/remembering-paul-ehrlich-even-if-we-would-rather-not

Leftists sarcastically asking where the money for this war will come from are right about the GOP's hypocrisy, but wrong to imply that it actually means there's plenty to spend on all these government programs. We can't afford any of this.Read the article here: https://mises.org/mises-wire/no-we-cannot-afford-war-iran-eitherBe sure to follow the Guns and Butter podcast at https://Mises.org/GB

Generations of scholars come and go; a few, including Roger Garrison, make their mark on the field and inspire future generations to do the same.Original article: https://mises.org/power-market/roger-garrison-and-sustainable-growth-austrian-school

As we continue to celebrate the centennial of the birth of Murray Rothbard, Wanjiru Njoya reminds us that he never compromised his principles and stood for liberty throughout his all-too-brief life.Original article: https://mises.org/mises-wire/rothbard-never-abandoned-his-principles

Daniela Cambone interviews Dr. Mark Thornton on why gold's surge signals a deeper breakdown: collapsing confidence in dollar assets, runaway deficits, and debt-service costs heading for a fiscal wall. Mark also explains why he's even more bullish on silver than gold, warning that precious metals aren't a panacea without real monetary reform.The original interview is available at https://www.youtube.com/watch?v=G1HNeez2v1g

Milton Friedman and others tried to explain interest rates using liquidity, economic activity, and inflation expectations. These things, however, only describe interest but do not explain it. Only the Austrian theory of time preference correctly explains interest.Original article: https://mises.org/mises-wire/popular-interest-rate-theory-describes-fails-explain

Modern academic historians have been captured by the cultural Marxists, no matter how much they deny the obvious truth.Original article: https://mises.org/mises-wire/cultural-marxism-masquerading-true-history

As war drums beat again, this time against Iran, we ask ourselves if recklessness from Donald Trump and European and Israeli leaders is pushing us to catastrophe.Original article: https://mises.org/mises-wire/another-stone-age-making

On the latest episode of Minor Issues, Mark Thornton tackles the “Austrians don't care about the poor” smear, arguing that Austrian monetary theory is designed to explain how political elites rig the system against working people. From Cantillon's original gold mine thought experiment to today's Fed-driven credit expansion, Mark explains how cheap money concentrates wealth and fuels the “K-shaped” economy, while a market-based monetary system would sharply limit this dynamic and restore more durable wage growth and stability.Additional Resources"Share of Net Worth Held by the Top 1%" (Federal Reserve Bank of St. Louis): https://mises.org/MI_168_Graph"Monetary Metals 101: How Gold and Silver Work in a Free Market" (Minor Issues, Episode 141) https://mises.org/MI_141"The K-Shaped Economy" (Minor Issues, Episode 150): https://mises.org/MI_151"Past Tense" (Minor Issues, Episode 83): https://mises.org/MI_83"The Fed vs. the Real Economy" (Minor Issues, Episode 58): https://mises.org/MI_58Order a free paperback copy of Hayek for the 21st Century by F. A. Hayek: https://mises.org/Hayek21Purchase a Minor Issues tumbler today! https://mises.org/MinorIssuesTumblerBe sure to follow Minor Issues at https://Mises.org/MinorIssues

In commemoration of Murray Rothbard's 100th birthday, Bob shares five “greatest hits” from Rothbard's economics, covering deficits vs. inflation, monopoly theory, excess capacity, the time structure of production, and his reconstruction of utility and welfare economics.Related:Rothbard, Making Economic Sense: Mises.org/HAP541aRothbard, "Toward a Reconstruction of Utility and Welfare Economics": Mises.org/HAP541bRothbard, Man, Economy, and State with Power and Market: Mises.org/HAP541cBob's Study Guide to Man, Economy, and State with Power and Market: Mises.org/HAP541dJoin the Mises Institute on Saturday, April 25 in San Diego, CA to discuss California's fall from grace. Today, it's known for high taxes, bureaucrats, and leftwing billionaires. Is this a warning to the rest of America? Register now at Mises.org/CAHAPThe Mises Institute is giving away 100,000 copies of Hayek for the 21st Century. Get your free copy at Mises.org/HAPodFree

The radical classical liberals of the past were not so naive as to think that words on paper would prevent the abuses of the central state. Allowing the central state to have a monopoly on coercive power is always a mistake. Original article: https://mises.org/mises-wire/only-power-can-check-power

On this episode of Power & Market, Ryan, Connor, and Tho look at the economic fallout from the war in Iran. How has Iran been able to control the Strait of Hormuz? How might central bankers react? And draft talk out of Washington? Tune in to hear about this and more, as well as a preview of next week's Libertarian Scholars Conference and Austrian Economics Research Conference.

The Duke Lacrosse Case would never have been a legal item had not the police and prosecutors of the case lied and broken the law on numerous occasions. Here is a small sampling of the lies they told.Original article: https://mises.org/mises-wire/duke-lacrosse-case-20-years-later-how-durham-law-enforcement-promoted-criminal-conspiracy

As recent history shows, there are few things more courageous for a president to do than face down the ever-accelerating, wealth-draining, conflict-amplifying warfare state in DC. Trump has decided to go in the opposite direction.Read the article here: https://mises.org/mises-wire/launching-war-iran-was-no-act-courageBe sure to follow the Guns and Butter podcast at https://Mises.org/GB

On the latest episode of Minor Issues, Mark Thornton appears on Arcadia Economics with Chris Marcus during a volatile week for gold and silver amid the escalation with Iran. They unpack the risks and “unintended consequences” of the conflict, along with what all of this means for markets, the dollar, and investor psychology. Mark closes with a hard look at the Fed-fueled, fifteen-year bubble of credit and debt, the growing stress in sovereign debt markets, and why central bankers can't “magic away” the structural problems that created this mess.The original episode is available at https://www.youtube.com/watch?v=MQn1GenrMyQOrder a free paperback copy of Hayek for the 21st Century by F. A. Hayek: https://mises.org/Hayek21Purchase a Minor Issues tumbler today! https://mises.org/MinorIssuesTumblerBe sure to follow Minor Issues at https://Mises.org/MinorIssues

The Trump White House can't decide on a reason for why it went to war. But one goal is clearly regime change. Ryan McMaken and Zachary Yost discuss the many obstacles to this unlikely outcome. Be sure to follow Radio Rothbard at https://Mises.org/RadioRothbardRadio Rothbard mugs are available at the Mises Store. Get yours at https://Mises.org/RothMug PROMO CODE: RothPod for 20% off

As we celebrate the Centennial of the birth of Murray Rothbard, we look at his commentary on the American Revolution, where it promoted liberty and where the creation of the Constitution became liberty's roadblock.Original article: https://mises.org/mises-wire/rothbard-and-american-revolution

The current US conflict with Iran has its roots in the CIA-backed coup in 1953, which removed a democratically-elected prime minister and replaced him with the Shah. The Shah's government ultimately collapsed, leading to the current Islamic republic.Original article: https://mises.org/mises-wire/operation-ajax-1953-cias-template-and-warnings-today

Trump has brought the US into war with Iran. Ryan, Tho, and Connor talk about the initial execution, the domestic fallout, the global costs, and what may come next.

When it comes to foreign policy, what matters are powerful interest groups. The ordinary voters who pay all the bills don't matter. The interest groups pushing for pro-Israel wars in the Middle East are especially powerful.Be sure to follow the Loot and Lobby podcast at Mises.org/LL

It has been 20 years since the Duke Lacrosse Case dominated the news media. It was a story in which false narratives of guilt pushed by corrupt police and prosecutors, radical members of Duke's faculty, and the legacy media nearly railroaded three innocent men into prison.Original article: https://mises.org/mises-wire/duke-lacrosse-case-exposed-rot-higher-education-media-and-justice-system

Those who believe in the free and unhampered market economy should be especially skeptical of war and military action. War, after all, is the ultimate government program.Original article: https://mises.org/mises-wire/rothbard-and-war

The problem with this new campaign in Iran is not merely that it will likely have bad near-term consequences, but that it represents the American government doubling down on the imperial project that is causing our accelerating national crisis.Read the article here: https://mises.org/mises-wire/trumps-war-iran-even-more-disaster-people-realizeBe sure to follow the Guns and Butter podcast at https://Mises.org/GB

The current war is a timely reminder that the US ruling elites regard the US taxpayers and ordinary Americans as little more than inconvenient afterthoughts in US foreign policy.Original article: https://mises.org/mises-wire/iran-war-exposes-farce-american-representative-democracy

Bob uses Trump's call to ban congressional insider trading as a springboard to explain why, from an Austro-libertarian perspective, insider trading and speculation could help markets work, while still justifying special rules for government employees.Related:Bob's Article "Is Insider Trading Really a Crime?": Mises.org/HAP540aThe Social Function of Stock Speculators: Mises.org/HAP540bThe Social Function of Futures Markets: Mises.org/HAP540cThe Social Function of Call and Put Options: Mises.org/HAP540dThe Mises Institute is giving away 100,000 copies of Hayek for the 21st Century. Get your free copy at Mises.org/HAPodFree

Into the heart of the peasant and nomadic Arab world of the Middle East there came, on the backs and on the bayonets of British imperialism, a largely European colonizing people.Original article: https://mises.org/mises-wire/war-guilt-middle-east

Are we emphasizing “the negative”? In a sense, yes, but what else are we to stress when our values, our principles, our very being are under attack from a relentless foe?Original article: https://mises.org/mises-wire/fight-liberty-and-beltway-barbarians

On this episode of Minor Issues, Mark Thornton appears on Reinvent Money with Paul Buitink for a “state of the system” conversation. Mark breaks down the US economy as an “everything bubble,” explains what's really behind the trade deficit and the dollar's reserve status, and grades Trump's first-year economic agenda. He closes with a practical Austrian roadmap toward sound money: real savings, capital accumulation, and removing tax penalties on interest, dividends, and long-term gains.The original episode is available at https://www.youtube.com/watch?v=mgqsHCQxSrwOrder a free paperback copy of Hayek for the 21st Century by F. A. Hayek: https://mises.org/Hayek21Purchase a Minor Issues tumbler today! https://mises.org/MinorIssuesTumblerBe sure to follow Minor Issues at https://Mises.org/MinorIssues

When the Massachusetts colony issued its own unredeemable paper money in 1690, it was with the promise that it would soon be redeemable in specie. Like all paper money issued by government, it lost value and the confidence of the people.Original article: https://mises.org/mises-wire/massachusetts-1690-first-western-fiat-experiment

On this episode of Power and Market, we feel compelled to discuss this week's State of the Union speech. Ryan and Tho are joined by Dr. Jonathan Newman to provide some historical context to the event and what, if anything, actually matters from the speech.

Dr. Keith Smith recounts how the Surgery Center of Oklahoma and the Free Market Medical Association are exposing the hospital–insurance cartel—posting honest, bundled prices, triggering price wars, and proving that free-market medicine can deliver higher quality care at a fraction of the cost.Recorded in Oklahoma City, Oklahoma, on February 21, 2026. Special thanks to Michael and Beverley Starkey and Gil Robinson for sponsoring this event.

Dr. Timothy Terrell explains how entrepreneurs and property rights can protect forests, wildlife, and open spaces better than bureaucracies, using real-world examples of “enviropreneurs” who profit by conserving nature instead of exploiting it.Recorded in Oklahoma City, Oklahoma, on February 21, 2026. Special thanks to Michael and Beverley Starkey and Gil Robinson for sponsoring this event.

We are told that the Bill of Rights is the bedrock of our freedom, yet this same Bill of Rights ultimately has been used as a weapon against state sovereignty and against our individual rights.Original article: https://mises.org/mises-wire/bill-rights-against-states

The current outburst of protests against President Trump's enforcement of immigration laws is overshadowing a question that is not being asked: Can we defend having national borders in the first place?Original article: https://mises.org/mises-wire/defense-national-borders

Human action involves people engaging in unique events in which outcomes often are uncertain, when expertise and planning often do not give us the results we anticipate.Original article: https://mises.org/mises-wire/we-act-world-uncertainty-not-probabilities

In a truly free market, there is no class conflict. In the presence of the state, however, things are different because various groups jockey with each other to gain the favor of state agents.Original article: https://mises.org/mises-wire/class-conflict-jacksonians-and-exploitation

The rise of the grooming gangs in Great Britain and the refusal of Britain's Labor government to intervene speaks volumes about the contempt that British political elites have for their laws and the people who must live under a regime of anarcho-tyranny.Original article: https://mises.org/mises-wire/anarcho-tyranny-and-uk-grooming-gangs-scandal

If the Iranian regime were truly trying to sacrifice their entire country to commit a nation-level nuclear murder-suicide against Israel and the US, they would be acting very differently.Read the article here: https://mises.org/mises-wire/trumps-iran-buildup-based-lieBe sure to follow the Guns and Butter podcast at https://Mises.org/GB

Dr. Per Bylund contrasts the futility of politics with the quiet power of entrepreneurship, showing how innovative businesses like Uber and Amazon actually dismantle regulations, reshape institutions, and push the state back more effectively than any protest movement or election.Recorded in Oklahoma City, Oklahoma, on February 21, 2026. Special thanks to Michael and Beverley Starkey and Gil Robinson for sponsoring this event.

Ryan McMaken joins John Stossel to grade President Trump's first year of his second term. They walk through the biggest issues shaping the country—government efficiency, spending and the national debt, trade and tariffs, energy policy, and border enforcement—highlighting where the administration has delivered, where it's fallen short, and what the long-term implications may be. What's changed, what's hype, and which moves actually matter beyond the headlines?

Dr. Peter Klein explores whether AI can ever replace human entrepreneurs and central planners, arguing from Mises' calculation problem that even “thinking machines” can only mimic, not originate, the real-world judgment and ownership that markets require.Recorded in Oklahoma City, Oklahoma, on February 21, 2026. Special thanks to Michael and Beverley Starkey and Gil Robinson for sponsoring this event.