MISES MEMO NEWS FROM THE LUDWIG von Mises INSTITUTE = SUMMER 2005 Lvs von Mises wrote a half sentury ago that the universi- ties had become captives of special interests and the state. He hoped for supplemental alternatives where people could go to com- plete their education in social sci- ences. That is precisely what the Mises Institute works toward, par- ticularly with its extraordinary summer programs for the best stu- dents working toward academic careers On the program this year is Joseph Salerno teaching on the history and theory of the Austrian School, Thomas Woods on Amer- ican and European history, and Walter Block on economic and political ethics. All these programs will be made available online and also in packages for home study, as an addition to our growing library of home-study CDs. A UNIVERSITY OF OUR OWN ‘The summer culminates in our famed Mises University program, where a large faculty mentors out standing students from around the world. After 20 years, this pro- gram has trained legions of Aus- trian and libertarian scholars. w FREE-MARKET MONEY hat is the best book on money ever written? For its amazing combination of brevity, clarity, and theoretical depth, the answer is: What Has Government Done to Our Money? by Murray N. Rothbard. It opens new vistas of understanding, not just on the topic of money but the whole of political economy. We are low on stock after a big surge in orders from classrooms and booksellers. We must reprint right away, but we are using the opportu- nity to really jazz up this book. We're adding a spectacular new cover, making it a hardcover, Joseph T. Salerno, Thomas E. Woods, fr, and Walter Block adding a wonderful new introdue- tion by Guido Hiilsmann, improv- ing the layout, and preparing a full- scale blitz to get the word out. Best of all, we are uniting this book with its natural complement: a detailed reform proposal for a 100 percent gold dollar, an essay first published first in 1962. The Case for a 100 Percent Gold Dollar was written a decade before the gold standard was finally aban- doned. But his plan for making the dollar sound again still holds up. This book can take on the largest life possible in this new edi- tion. It’s the kind of book that you will want to buy by the stack so that you can hand them to friends and co-workers who express curiosity about business cycles, debt, inflation, and exchange rates. No other book on money has this kind of reach, this degree of persuasive power, this ability to guide the reader toward a new way of understanding the whole topic, fiom top to bottom. a More AND More. ROTHBARD fier 10 years of struggle, the Mises Institute has. finally acquired permission to print and distribute Murray N. Rothbard’s last masterful treatise Maybe you have tried to find a copy of Rothbard’ last great work, his two-volume Austrian Perspective on the History of Economic Thought. Tt came out 10 years ago—but it >4 was offered only at the shocking retail price of $250 for the set Even at $250, the work became almost completely unavailable We have successfully negoti- ated a deal with the publisher—a costly deal for us, to be sure. But it is too important a project for us to pass up. We will publish an edition that will make it available to stu- dents, faculty, and everyone inter- ested in the history of ideas Many scholars believe it was his most important work. David Gordon is right: “Murray Roth- bard’s two volumes are a-monu ment of twentieth-century schol arship.” On the same day that we acquired the rights to print this book in an affordable edition, we discovered audio recordings made 20 years ago during the time when Rothbard was researching these books. There are seven full hours of Rothbard lecturing on the his- tory of economic thought. In these, he covers the material that ‘was to be part of volume three We plan to distribute these audio files alongside the book, to make a complete package. m "The Mises Memo is published quarterly by the Ludwig von Mises Institte. Vol ume 11, No. 2 Copyright © 2006 by the Ludwig von Mises Institute, 618 West Magnolia Ave. Auburn, Alabima 36882- 28; 934-921-2100; fae 934-321-2119; infothmisos org, wwwmises org Mises INSTITUTE BooKs The Quotable Mises. Thank you to everyone who supported the publication of The Quotable Mises. Tt should be available in the fall of 2008 For a New Liberty. This was Rothbard’s 1973 treatise covering the whole of libertarian theory and policy, due out in a hardbound edi- tion in late 2005. The Economies and Ethics of Pri- vate Property by Hans-Hermann Hoppe. Brilliant, relentless, and ystematic, this treatise by Hoppe | has been unavailable for many years, but will appear from the Mises Institute in a mud expanded edition in early 2006. Money, Bank Credit, and Eco- nomic Cycles, by Jesus Huerta de Soto, This great treatise is the definitive work in Spanish, and is about to become so in English too. Making Economic Sense by Murray N. Rothbard will be WIS antic AT Tia Zea PAVED} reprinted with a new introduction by Robert Murphy. A History of Money and Bank- ing in the United States by Murray Rothbard is now available in a hardbound volume. Jorg Guido Hiilsmann has been at work for many years on the definitive biography of Lud. wig von Mises. The final stages are nearing for the completion of the manuscript. A 2006 publication date seems entirely likely. Much more about this later. Meanwhile, Hiilsmann has written a wonderful book called ‘The Ethics of Money Production—the first book that addresses the rela- tionship between justice, morality and the practice of produ monetary instruments. The Mises Institute is the publisher. a Mises RADIO f you just can’t get enough Aus- trian economics and libertarian theory, the Mises Institute now News mos Luninc vox Mises IsstrcTE m@ StxMER 2005offers 24 hour-a-day radio, with three stations. One plays continu- ous lectures from the Mises Uni- versity. Another plays. classroom lectures on economics, history, and political philosophy. Another plays ongoing lectures by Robert Lefevre, the famed free-market commentator. It’s free! Mises.org/ content/misesradio.asp. Enjoy! m THE ECONOMICS OF FASCISM lan to join us for our annual Supporters’ Summit, October 7-8, 2005. The theme is The Eco- nomics of Fascism. It is inspired by the rise of central planning in the United States and elsewhere in the name of values typically considered to be “right wing”-pro-family, pro- industry, pro-defense. The word fa used as a swear word ‘might sometimes forget that it really did exist as a system of political economy, and it continues to exist as.a policy tendency. Like socialism, it took on different forms in differ- ent countries. Its spirit continues to exert a huge influence on the organ- ization of economic life today. Speaking will be David Gor- don, Ralph Raico, Robert Higgs, Paul Gottiried, Jeffrey Herbener, Thomas Woods, Joseph Salerno, Hans Hoppe, Thomas DiLorenzo, m is so often that we Butler Shaffer, Roderick Long, Guido Hiilsmann, Mark Thornton, George Reisman, Robert Murphy, and Lew Rockwell. William H. Peterson, student of Mises, will receive the prestigious Gary G. Schlarbaum award. w Home Stupy re are in the final stages of cre- WwW ating a Home Study Course that will carry a student of any age through a full year of training in Austrian economics, along with libertarian political themes and his torical applications. The course comes with 52 hours of lectures, tied to reading (included as well), and study questions. It is designed to take over a year but it can be speeded up or slowed down depending on your own schedule. Ic has been prepared in consul- tation with our senior faculty and adjunct scholars. We see this as the basis for a dramatic expansion into more interactive learning environ- ments that employ online technol- ogy a THE MISES BOOKSTORE ‘n the spring we upgraded our bookstore software, and now we offer a catalog that rivals the top sites in functionality but som thing more: a highly specialized collection that focuses on Austrian economics and libertarian theory: The book descriptions are compre- hensive and expertly prepared— offering an education of their own. ‘The delivery is quick and follow-up service outstanding, As incentive to shop online, we also offer monthly specials. Please take a tour: www. mises.org/store. You can also use the store to subscribe to the Journal of Libertar- ian Stusties, the Quarterly Journal of Austrian Economics, and the Mises Review, = IN MEMORIAM We mourn the passing of these benefactors of the Institute, whose integrity and example was also a gift to all who knew them, Mr. Edgar J. Uihlein (1916- 2005), of Lake Bluff, Illinois, Member since 1985. A former Navy pilot, he started General Binding Corporation, and became a venture capitalist. Mr. Mark Scott of Commerce ‘Township, Michigan, Member since 1984. A knowledgeable stu- dent of Austrian economics and the history of liberty, Mr. Scott taught a huge audience from his talk show at WXYT in Detroit. ‘Mx. J.J. Mahoney, of Mt. Pleas- ant, South Carolina, and The Citadel, adjunct scholar and Char- ter Member since 1983. He was a man who loved, and exemplified, free enterprise, the original Amer- in republic, and the Southern republic. We also. remember Mr. William J. Worthington, Jt, of Montgomery, Alabama, Member since 1988; Major Gerald D. Har- rison of Lafayette, Louisiana, Member since 1988, and Mr. William E. Murray of Missoula, Montana, Member since 2004. May they rest in peace, and may we be inspired by their exam- ple in our work and lives. a Soper 2005. w NEWS Fron THE LuDwie VoN Mises IestrureUPCOMING EVENTS + MISES INSTITUTE SUMMER SEMINAR SERIES — See Mises.org for details + RADICAL AUSTRIANISM, RADICAL LIBERTARIANISM — A Steven Berger Seminar with Walter Block ‘Auburn, Alabama * July 25-29, 2005 * MISES UNIVERSITY Auburn, Alabama + July 31~August 6, 2005 * SUPPORTERS SUMMIT AND SCHLARBAUM AWARD Auburn, Alabama * October 7-8, 2005 * AUSTRIAN SCHOLARS CONFERENCE ‘Auburn, Alabama * March 16-18, 2006 See CU Goo a Ge ee a an CCL a Dee eee ee ee ae ES MEMO Ludwig von Mises Institute 518 West Magnolia Avenue ADDRESS SERVICE REQUESTED. Auburn, Alabama 36832-4528