One of the most difficult things to understand about banking is how money is created out of thin air. Current commercial bank liabilities are immediate. The banks do not have the reserves to redeem all demand notes. Thus, banks are inherently insolvent. But, government has eliminated runs on banks. Banks are not allowed to fail when they are
A collection of ten speeches and lectures by Murray N. Rothbard, spanning from the 1970s to the early 1990s. He is speaking in a small classroom setting, explaining economics from the ground up, and systematically in the manner of a classic 101 course on the topic—but with a revolutionary approach. Download the complete audio of this collection
This is Murray Rothbard’s libertarian manifesto, view of society without the nation-state. This audio book edition is narrated by Jeff Riggenbach, includes a new introduction, written and read by Llewellyn H. Rockwell,
Murray N. Rothbard’s great treatise provides a sweeping presentation of Austrian economic theory, and a rigorous criticism of alternative schools of thought. Narrated by Jeff Riggenbach. This audiobook is made possible through the generosity of Thomas
“Banks would never be able to expand credit in concert were it not for the intervention and encouragement of government,” writes Murray Rothbard. This audio book edition is narrated by Harold Fritsche. Music by Kevin
The Free Market 10, no. 1 (January 1992) I told you so!” may not be considered polite among Recession friends or acquaintances, but in ideological clashes it is important to remind one and all of your successes, since neither the indifferent nor your enemies are likely to do the job for you. In the case of Austrian business cycle theory,
Ludwig von Mises’ The Theory of Money and Credit is, quite simply, one of the outstanding contributions to economic thought in the twentieth century. It came as the culmination and fulfillment of the “Austrian School” of economics, and yet, in so doing, founded a new school of thought of its
Ever since Black, or Meltdown, Monday October 19th, the public has been deluged with irrelevant and contradictory explanations and advice from politicians, economists, financiers, and assorted pundits. Let’s try to sort out and rebut some of the nonsense about the nature, causes, and remedies for the crash. Myth One It was not a crash, but a
What is the Mises Institute?
The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.
Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.