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Volume S

A Report to Members for 1990

Dear Members,

The good news: 1990 was the year that Poland freed its prices,
Czechoslovakia privatized many industries, Lithuania consid
ered free banking, and the Soviet Union talked about selling off 80% of
the state's assets.

The bad news: the U.S government imposed more taxes, more
spending, and more regulation on us.
It seems as if Eastern Europe's biggest intellectual export is social
ism, and most of it is coming here. So the Ludwig von Mises Institute is
0) working—at both the scholarly and popular levels—in favor of private
property, individual liberty, sound money, and free markets. Here are the
JS highlights of 1990:

New Publications

The Review ofAustrianEco lished by Kluwer Academic Pub And speaking of The Free
nomics is the only schol- lishers) was a seminal event in Insti Market, this year our influential
arly publication devoted to tute history. A collection of some of newsletter carried 60 articles on
Austrian economics. Its publisher, his best work, much of it previously how the economy should work
Kluwer Academic Publishers, has unpublished, it is already being and why it doesn't because of gov
taken it to twice yearly, a real mile adopted as a text. But the book is not ernment interference. And The
stone for us and for Austrian eco just for academics—as a book re Austrian Economics Newsletter, our
nomics. view in the Washington Times by student publication, continues to
William Peterson of Campbell Uni receive high praise.
versity pointed out. Economic Calculation in the
Money, What Has Government Done to Socialist Commonwealth by Ludwig
Our Money? is among Murray von Mises set the world on its ear
Method, Rothbard'S most popular works. It when it first appeared in 1920.
teaches more about monetary the Since this publication first showed
and the
ory, in a shorter space, than any why socialism could never work,
Market Process thing else yet written. But the we wanted to commemorate the de
quality of the edition did not do it molition of that monstrous ideology
credit, and was sometimes hard to by republishing ECSC—a some
Essays by find. So the Mises Institute has pub times hard-to-find work—in a
Ludwig von Mises
lished a beautiful new and ex new and more attractive format.
panded edition with a foreword by And we added a foreword by for
Mises Institute president Lew Rock mer Gorbachev advisor Yuri N.
well. We plan a wide distribution. Maltsev, an introduction by Uni
versity of Warsaw economist Jacek
The Economics of Liberty edited
Kochanovicz, and a revisionist
by Lew Rockwell will soon be avail
postscript by Pace University econ
This year's publication of able, and it is the most exciting col
omist Joseph T. Salerno.
Money, Method, and the Market Pro lection of short articles on the
cess by Ludwig von Mises (essays economy and the government since 1990 was also the year we
selected by Margit von Mises, ed The Free Market Reader. You won't signed an agreement with Kluwer
ited by Richard Ebeling, and pub want to miss this fiery collection. Academic Publishers to act as gen-

Through our active O.P. busy from 8:00am until 10:00pm, intellectually rewarding.
Alford III Center, we closing the evening with a social "The schedule was tough,"
held our annual Mises Univer hour to discuss ideas presented said Rose Kilburn, a student at the
sity program at Stanford July during the lectures that day. Stu University of California, Santa
7-14. The comprehensive in dents say it is the most tiring eight Cruz, "but it was necessary to
d struction we offer in Austrian days of their life, but also the most provide a full picture of the Aus
economics is available trian school. Besides, I
no where else in the don't hear these ideas any
world. It teaches stu other time during the

dents, and even profes
sors, about the Austrian
school, in nearly 60
classes, over a dozen
mm school year. I wanted to
take advantage of it while I
could." Added John Moser,
a student at the University
V seminars, four plenary of Illinois: "The beauty of
lectures, and much indi the Austrian school is that
d vidual tutoring, by 16 of it has an irresistible logic to
the most accomplished it. It was a very productive
eg Austrian economists in week. I learned an incredi
d the world. And it all ble amount."
o takes place on three lev-
U elsofinstruction.
In choosing our Mises
Professor Murray N. Rothbard gives the opening University students from
The students are lecture at our Mises University. the many who apply, we
Conferences and Meetings
In a column about the con
ference, Joseph Sobran, senior ed
eral editor of their series: "Studies in on capital theory and the business itor of National Reviezv, mentioned
Austrian Economics." Two vol cycle, a volume on the economics, 3
"attending the summer session
umes have appeared so far, and up history, and politics of the Federal
offered by the Ludwig von Mises
coming are The Meaning of Ludwig Reserve System, and a book on the
Institute at Stanford University.
von Mises, edited with an introduc history, economics, and politics of
Von Mises, of course, was the
tion by Jeffrey Herbener of Wash taxation.
ington & Jefferson College. It is a
great genius of the Austrian school
George Selgin, who teaches of economics, whose central tenet
near-comprehensive collection on economics at the University of
Mises by important Austrian schol is simply that economics is best un
Georgia, was the first recipient of a derstood in terms of rational
Mises Institute fellowship. Now he
human action. The session was
is the author of "Praxeology and
spearheaded by Murray Rothbard,
Understanding," which the Insti
tute is publishing as a monograph.
possibly the most colorful intellec
tual who ever lived. If there's a sub
"The Rise and Decline of Re ject on which he doesn't have an
Economic Calculation
form in China" by Sheldon Rich- original opinion, I don't know of it.
in the man was published in our You can't be around Murray for
Socialist Commonwealth policy-studies format. Its history of
even a few days without finding
China's economic reforms explains
your views changed, or at least
h luJ-i..., Mbn
what went wrong and what to do
deepened, by the challenges he un
failingly presents.
An informative new brochure
"The Institute did a marvel
about the Mises Institute was pub
lished in 1990. If you'd like some for ous job of organizing the session.
friends or associates, just tell us on The courses and seminars were
the enclosed card. Or send us their led by as brilliant a set of thinkers
names and addresses and we'll do as I've ever encountered. One of
the mailing for you. the most heartening features of
For series 1991 we have
the experience was the students.
p\anr\ed a collection of Murray Our new book catalog ap
There were about 160 of them,
Rothbard's best work on Austrian peared this year, and it both sells
economics, Roger Garrison's essays books and teaches economics.
eager and intelligent young peo
ple who were worthy of their
teachers. They got no academic
credit for attending. They simply
came to think. There is hope."
look for those who have exhibited stitute for Humane Studies; Jo
intellectual credentials, academic seph Salerno; George Selgin; The bigger and better catalog
achievements, and also the moral Mark Skousen of Rollins College; of the Mises University 1991 Quly
courage needed to survive in Mark Thornton of Auburn Uni
7-14) is now available. You can get
today's hostile economics classes. versity; and Deborah Walker of one by writing us. For this pro
Loyola University. gram, we've added three new fac
The faculty, chaired by Mur
ulty: Thomas DiLorenzo of the
ray Rothbard, included Rob
University of Tennessee,
ert Batemarco of Marymount
Chattanooga (on mo
College; Walter Block of the
nopoly and competi
Fraser Institute; Williamson
tion); Roy Cordato of the
Evers of the Hoover Institu
Institute for Research on
tion; Roger Garrison of Au
J the Economics of Taxa
burn University; David
tion (on taxation, public
Gordon of the Ludwig von
goods, and externali
Mises Institute; Jeffrey
ties); and John Egger of
Herbener of Washington
Towson State University
and Jefferson College; Rob
(on unemployment,
ert Higgs of Seattle Univer
sity; Hans-Hermann Hoppe
of the University of Nevada,
If * Keynesianism, and pro
Las Vegas; Yuri N. Maltsev; For 1991, we add
Sheldon Richman of the In Students at the Mises University. another treat: the Mises
Conferences and Meetings
Weekend on Austrian Economics Cohrssen of the University of conference and moderated the
also at Stanford, for Institute Frankfurt; Murray Rothbard; discussion. The Lithuanians
Z|. Members who want to expand George Selgin; and Roy Cordato asked lots of questions, and we
their knowledge. It runs from Fri of the Institute for Research on the provided them with lots of an
day, July 5th to Sunday the 7th. Economics of Taxation. In addi swers, on the free market, sound
The faculty is Murray Rothbard, tion to the regular Auburn stu money, and private property, and
Roger Garrison, Flans-Hermann dent and faculty attendees, guests we are—at the request of the
Floppe, Yuri Maltsev, Burton S. come from all over the area. prime minister—serving as con
Bluinert of the Center for Liber We also sponsor a collo tinuing advisors in their struggle
tarian Studies, and Lew Rockwell. quium in Austrian economics at against socialism and for a capi
In 1990, the Mises Institute our Fertig Student Center near talist economy.
sponsored the first Austrian look George Mason University. Recent Afterwards, Dr. Kazimiera
at the post-socialist age: "After speakers have included Roy Prunskicnc, prime minister of
the Revolution: De-Socializing Cordato; Joe Cobb of the Joint Lithuania, wrote to Lew Rock
the Socialist Bloc," April 23,1990, Economic Committee; John well: "I would like to pay you my
in Washington, D.C. It went a long Egger; Joe Salerno; William G. greatest respect and gratitude for
way toward developing a blue Laffer of the Heritage Founda a well-ordered tour for the six
print, consistent with the Aus tion; Charles Rowley of George economists from our newly re
trian tradition, for dismantling Mason University; and Michael built State to visit America. My
the command economy. Krauss of the George Mason Uni deepest regards for the possibility
The participants included versity Law School. to contact with the well-known
Krzysztof Ostaszewski of the Our Fertig Center also American economists and for
University of Louisville, a Polish hosted a high-level delegation of new acquaintance with other
emigre; Hans-Hermann Hoppe, a Lithuanian economic officials, wonderful people of your coun
German emigre; Yuri N. Maltsev; headed by a deputy prime minis try. We are also thankful for the
Kestutis Baltramatis, chief ter, for a productive meeting on knowledge we've got about the
privatization economist of the the free market. Our speakers in free market economy that has so
Lithuanian Council of Ministers; cluded Ed Hudgins of the Fleri- old traditions in your State and
Murray N. Rothbard; Joseph tage Foundation; David for those unforgettable minutes
Sobran; Gottfried Haberler of the Meiselman of Virginia Polytech we've spent in Ludwig von Mises
American Enterprise Institute; nic University; Richard Hile and Institute, inimitable in its beauty,
and Sheldon Richman. Alex Tabarrok of the Mises Insti- free spirit and ideas.
Gottfried Haberler—former tute; Roy Cordato; Sheldon "Many thanks to your col
president of the American Eco Richman; Edwin Vieira of the leagues and brothers in arms for
nomic Association and a student of National Right To Work Founda their attention as well as for in
Ludwig von Mises's in Vienna— tion; Joe Cobb; syndicated col valuable support to Lithuania,
expressed his elation at the revolu umnist Doug Bandow; and Yuri going to free and democratic soci
tionary events: "I only wish N. Maltsev. Fertig Center director ety. I hope that the first contacts
Ludwig von Mises could Jeffrey A. Tucker organized the between Ludwig von Mises
have seen his predictions Institute and our econo
come true." mists in future will grow
Attending the confer into friendly collaboration
ence were university pro that will never end." Amen

fessors and students, local to that!

think-tank scholars, and Our seminar at the Her

Mises Institute Members itage Foundation in Wash
from around the country. ington, D.C., featured Yuri N.
The papers will be pub Maltsev, our Russian Mises-
lished and tapes from the ian. He spoke about the ne
conference are now avail cessity of a free price system
able. and how its absence has de

Our Austrian Eco

stroyed Russia and the Baltic
states. Thanks in part to an
nomics Colloquium at Au
burn University has
advanced write-up in the
featured such speakers as Washington Times, the audi
Lawrence White; Hans The Lithuanians visit our Fertig Center. torium was packed.
Conferences and Meetings
liver the annual S.J. Hall Univer two seminars with Lawrence
sity Lecture. He talked about so Reed of the Mackinac Center (and
Watch for These cialist poverty in the Soviet Union our adjunct scholar) on Austrian
Conferences in 1991 and the futility of anything less Economics 101; the Council for
than a capitalist revolution. National Policy in Hot Springs,
♦ Democracy, Equality, and Lew Rockwell, when he Virginia, where Lew debated
the Free Market worked at Hillsdale College in the Iraqi policy with former Defense
1970s, helped start the Ludwig Department official Frank
♦ Bureaucracy and the Gaffney; the Lake Forest Gradu
von Mises lecture series. This
Economics of Stagnation ate School of Management near
year, in lieu of its normal series,
Hillsdale hosted an Austrian eco
Chicago, where Lew served as a
-♦• Dcsocialization visiting faculty member, and was
(in Vilnius, Lithuania) nomics conference. Organized by
Hillsdale's Mises Professor and
asked to do a video-taped fol-
our adjunct scholar, Richard Ebel- lowup by the students; and the ISI
ing, the participants included Conference on Money in Las
some of our scholars: Hans-Her
Vegas, where Lew's two talks de
We assisted Ron Howard of mann Hoppe; Charles Baird of fended sound money and op
Stanford University in organizing California Stale University, Hay- posed world statism. We also
the Dofflemyer Lecture Series on ward; Roger Garrison; Joseph Sa served as a member of the free-
the Free Society at Stanford. market National Consumer Co
lerno; Mark Skousen; George
Speakers included Murray alition.
Selgin; and Robert Formaini of
Rothbard debating Nobel laure the University of Texas, Dallas. In November, the Southern
ate Kenneth Arrow on Austrian The papers will be published by Economic Association held a spe
economics; Doug Bandow on Hillsdale College Press. cial panel entitled: "Eastern Eu
drug laws; George Selgin on free Members of the Institute's rope: Mises Was Right."
banking; author James Bovard on staff hosted booths at various con Participants included Murray
farm subsidies; Joseph Sobran on ferences this year in conjunction Rothbard; Leland Yeager, Ger
civil rights; Yuri Maltsev on the with Lew Rockwell's speeches trude Schroeder of the University
Soviet economy; and attorney and seminars. Four of the biggest of Virginia, John H. Moore of
Steve Halbrook on gun control. George Mason University, and >
were the Jim Blanchard invest
Yuri N. Maltsev was invited ment conference in New Orleans, Roger Koppl of Fairleigh Dickin
to UNLVby Murray N. Rothbard where Lew spoke on the dangers son University. It was organized
and the College of Business to de- of environmentalism, and held by our Mark Thornton.

This year, our outstand R. Groenveld, J.A.H. Maks, J. a Problem" {Vie Freeman), and O
ing team of adjunct Muysken. "Collectives and Pollution"
scholars and senior fellows was (Christian Science Monitor). He
Thomas J. DiLorenzo of the
most active. Here are the high also wrote a book, Patterns of Cor
University of Tennessee at Chat
lights: porate Philanthropy: Ideas, Advo
tanooga, and faculty member of cacy, and the Corporation published 3
Dominick Armentano of the 1991 Mises University, spoke CL
by the Capital Research Center.
the University of Hartford, pub on "The Origins of Antitrust:
lished "Time to Repeal Antitrust Rhetoric vs. Reality" at a Wash Steve H. Hanke of the Johns ro
Regulation" in The Antitrust Bul ington conference on antitrust Hopkins University, associate ed
letin of theJournal ofAmerican and and presented a paper on "Does itor of the Rruiew of Austrian Eco o
ForeignAntitrust Regulation. Don Capitalism Cause Pollution?" at a nomics, wrote Capital Markets and
Bellante of the University of conference on environmentalism Development with Sir Alan A. Wal •n
South Florida published "A Sub- at Washington University of St. ters, published by the Institute for
jectivist Economic Analysis of Louis (which was also published Contemporary Studies, and he
Government-Mandated Em as a monograph). Among the arti was appointed personal eco
ployee Benefits," in the Harvard cles he published are "The Subjec- nomic advisor to the vice-presi
Journal of Law and Public Policy tivist Roots of James Buchanan's dent of Yugoslavia. on

and "Labor Markets and the Economics" in the Review of

Welfare State" in Economic Policy Austrian Economics, "National Robert F. Hebert of Auburn
and the Market Process, edited by Service: A Solution in Search of University delivered a paper on
Adjunct Scholars and Senior Fellows
"Dupuit's Characteristics-Based also presented "Ludwig von and Theology), "Politics and Gen
Theory of Consumer Behavior Mises and the Austrian Tradition" erosity" (The Journal ofApplied Phi
and Entrepreneurship" for the at a conference of the American losophy), "Exploring Extreme
Austrian Economics Colloquium Private Enterprise Educators. Violence (Torture)" (Journal of So
at Auburn University. Among Robert Higgs of the Univer cial Philosophy), and "Do Animals
his papers published this year sity of Seattle edited a new book, Have Rights?" (Public Affairs
are "Menger, Bohm-Bawerk, Arms, Politics, andthe Economy for Quarterly). Papers presented in
Wieser: The Origins of the Aus the Independent Institute. His ar clude "Capitalism and Individu
trian School—Contemporary" ticle "Eighteen Problematic Prop alism" at an IHS European
and "The Austrian Tradition: ositions in the Analysis of the meeting, "On the Teaching of
Schumpeter and Mises," in Neo Growth of Government" will be Business Ethics" at the Heritage
classical Economic Theory, 1870- published in the forthcoming Re Foundation and "Capitalism and
1930 (Boston: Kluwer). With our viewofAustrian Economics. He also Pollution" at a Washington, D.C.,
distinguished adjunct scholar, presented a number of papers: conference.
Robert B. Ekelund, Jr., of Auburn "Wartime Prosperity During David Osterfeld of St.
University, Bob Hebert published World War II?" and "Growth of Joseph's College published
"Cournot and His Contemporar Government in the U.S." at the "Hope for the World Food Situa
ies: Is an Obituary the Only Bad University of Arizona, "A Closer tion" (Journal of Economic Growth),
Review?" (Southern Economic Look at the Debt and the Deficit" "The Fallacies and Failures of For
Journal), "E. H. Chamberlain and at Seattle University, and partici- eign Aid" (The Freeman), and a re-

Four of our scholars (from left to right): Deborah Walker of Loyola University; Murray N. Rothbard of the
University of Nevada, Las Vegas; Yuri N. Maltsev of the U.S. Institute of Peace; Jeffrey Herbener, of
Washington and Jefferson College; and graduate student Amy Marie Marshall ofNotre Dame University.

Contemporary Industrial Organi pated in several conferences, in view of Beyond the Informal Sector
zation Theory" (Journal of Eco cluding a Liberty Fund program edited by Jerry Jenkins (Journal of
nomic Studies), and "Alternative on the Old Right sponsored by the Economic Growth). He was also the
Visions of the Entrepreneur: Can- Independent Institute, Public featured speaker at the 1990
tillon, Say,Dupuit," in Perspectives Choice Society meetings, a Pacific Spring Bowman Lecture Series at
on the History of Econotnic Thought, Institute conference, and an Inter Indiana Wesleyan University on
edited by D.E. Moggridge. They collegiate Studies Institute confer "Famine and Poverty in the Third
also attended the Adam Smith Bi ence on economics and national World."
centenary in Edinburgh, Scot security.
Sheldon Richman of the In
land. Randall Holcombe of Flor stitute for Humane Studies pub
Jeffrey Herbener of Wash ida State University published lished an article on education
ington and Jefferson College is the "The Tax Cost of Privatization" reform in Chronicles, a defense of
editor of The Meaning of Mises (Southern Economic Journal) and H.L. Mencken (The American
(Kluwer, 1990), and author of presented "Constitutional Rules Scholar), presented a paper on
many articles appearing this year, in the Exchange Model of Gov "The Old Right" at a Liberty Fund
including three papers (on ISLM, ernment" at the Annual Meeting conference, and substituted for
the multiplier, and the Phillips of the Public Choice Society. Lew Rockwell (who was speak
Curve) in a forthcoming Praeger Tibor Machan of Auburn ing elsewhere) at a panel discus
volume on Keynes that grew out University published "Natural sion on Iraq for the Intercollegiate
of our Harvard conference. He Rights Liberalism" (Philosophy Studies Institute.
Adjunct Scholars and Senior Fellows
Murray N. Rothbard of the Southwest Economics Associa sulting" (Future-Oriented Training
University of Nevada, our head of tion as a discussant and was of Economic Consultants), has a
academic affairs and dean of the named a member of the Program paper on "German De-Socializa 7
Austrian school of economics, Committee. He also represented tion" forthcoming in a book pub
kept his usual busy schedule this the Institute at a large number of lished by the Mises Institute, and
year. In addition to working on gatherings, from Rotary Clubs to presented a paper on "Austrian
his multi-volume history of eco student seminars. Rationalism in the Age of the De
nomic thought, he edited The Re cline of Rationalism" at Hillsdale
Deborah Walker of Loyola
view of Austrian Economics and University received the Sears College.
wrote for TheJournal of Libertarian Roebuck Foundation Teaching Yuri Maltsev is in constant
Studies, contributed to The Free Excellence and Campus Leader demand as a speaker and writer.
Market (every month), The ship Award. His articles have appeared in
Rothbard-Rockwell Report pub Our senior fellows did ex
many publications, including
lished by the Center for Libertar American Enterprise, The Freeman,
traordinary work. Walter Blockof
ian Studies (every month), and The Free Market, the Journal of Eco
the Fraser Institute published
Chronicles, and reviewed many
"Earning Happiness Through nomic Growth, the Washington
books for both popular and schol Times, and the Seattle Times. Arti
Homesteading Unowned Land"
arly forums. He taught courses on cles about him have appeared in
(Journal of Social and Political Eco
Austrian economics, and served newspapers all over the country.
nomic Studies), "Rent Control: A
as an advisor for hundreds of fac
Case Study of British Columbia" And most recently he published
ulty and students in Austrian eco an article in the Washington Times
(Mid-Atlantic Journal of Business),
nomics. predicting that the 500-day plan
"Jewish Economics in Light of
of Soviet reformers will end as an
Joseph Salerno of Pace Uni Maimonides" (International Jour
utter failure. Yuri's constant
versity presented his paper "The nal of Social Economics), "Pay Eq
Concept of Coordination in Aus
message: Mises best understood
uity Laws—Plague or Panacea?"
the failings of socialism, and his
trian Macroeconomics: A Com (British Columbia Employment and
point of view offers the only way
ment on Garrison" at Hillsdale Labour Law Report), "The Dis
out for both the Soviet Union
College and at our Austrian collo counted Marginal Value Product
and the West. Yuri is also presi
quium. He wrote "Why Socialist Controversy" (Review of Austrian
Economy is 'Impossible'" for us, dent of Second Helping, a chari
Economics), among others. He also
an article with Robert Batemarco
table organization that helps the
had numerous interviews on
on "A New Measure of the U.S.
impoverished peoples of the
radio and television.
Money Supply" (The Mid-Atlantic U.S.S.R. during what we hope
David Gordon published will be their transition to capital
Journal ofBusiness), and published
many book reviews in the Review ism.
an article on "Ludwig von Mises
ofAustrian Economics, a review of Among our new adjunct
as Social Rationalist" in the Re
Errol Harris's "Formal and Tran
viewofAustrian Economics. He also scholars are Roy Cordato and
scendental Logic" (International Paul Gottfried of Elizabethtown
served as a commentator at a
Philosophy Quar
Washington, D.C., conference on
terly), and a new
money and banking.
book entitled Resur
Barry Smith of the Univer recting Marx (Trans
sity of Liechtenstein presented a action Press, 1990)
paper on "The Austrian School of demolishing "ana
National Economy" at the Inter lytical Marxism."
national Academy for Philoso
Hans Hoppe
phy. And Thomas C. Taylor of
published "The Eco
Wake Forest University pub
nomics and Sociol
lished a series of papers on busi
ness and accounting. ogy of Taxation"
(journal Dcs Econo
Mark Thornton of Auburn mists a et des Etudes
University planned his new Humaine), "Marxist
course on Austrian economics at and Austrian Class
Auburn and has a book on the Analysis" (Journal of
economics of prohibitionism Libertarian Studies),
forthcoming from the University "Entrepreneurship Professor Joseph Salerno of Pace University
of Utah Press. He attended the and Economic Con and the Mises Institute.
Adjunct Scholars and Senior Fellows
College and the Rockford Institute, invited to attend conferences on sity of Alabama at Birmingham);
and editor of a new conservative Adam Smith in Scotland and on Amy Marshall received her MA
Q journal on religion and politics. Carl Menger at Duke University, from UNLV and entered Notre
Samuel T. Francis, the much hon and published several articles in Dame's PhD program; Richard
ored essayist for the Washington the Austrian Economics Newsletter. Hite entered George Mason's PhD
Times and Chronicles, is our new Fiammetta Zahnd started an Aus program, along with Alex
media fellow. trian colloquium at UNLV John Mc- Tabarrok and Sofia Bump. Mark
Callie and Parth Shah of Auburn Thornton received his PhD from
Our students had a busy year, University successfully defended Auburn University where he is
in studying, attending classes, and their PhD dissertations (Parth is con now the Institute-sponsored O.P.
publishing papers and reviews. For tinuing his research and John is Alford III assistant professor of
example, Peter Klein of Berkeley was leaching economics at the Univer economics.

11 told, we were able to Bucknell University Columbus College Hope College

A -help students at more
than 500 colleges and universities in
California State Polytechnic Inst. Connecticut College Howard Payne University
California Slate University, Cornell University Howard University
the U.S. through scholarships, teach Bakersfield Dartmouth College Hudson Valley College
ing programs, books, and other publi California State University, Chico Davidson College Humboldt State University
cations. These included:
California State University, Fresno DeAnza College Hunter College
California State University, DeKalb College Huntington College
Denison University Hyles-Anderson College
Abilene Christian University California State University,
DePaul University Idaho State University-
Abraham Baldwin College Hayward
Drake University Illinois Institute of Technology
AJbright College California State University,
Long Beach Drew University Illinois State University
Alfred University
California State University, Drexel University Indiana State University
Allegheny College
Los Angeles Duke University Indiana University
Allentown College
California State University, Eastern Carolina University Indiana Wesleyan University
American International College Northridge Eastern College International University
American University California State University, Eastern Illinois University Itawamba College
Amherst College Sacramento
Eastern Oregon State University Ithaca College
Andrews University Calvin College
Elizabethtown College Jacksonville College
Anna Maria College Campbell University
Emory University Jacksonville State University
Appalachian State University Cameron University
Fairfield University John Carroll University
Arapahoe College Carleton College
Fitchburg State College Johns Hopkins University
Arizona State University Carnegie Mellon University
Florida Atlantic University Juanita College
Arkansas Tech University Carroll College
Florida Community College Kansas State University
Asbury College Case Western Reserve University
Florida Institute of Technology Kennesaw College
Ashland College Catholic University
Florida State University
Assumption College Centenary College Kent State University
Foot Hills College
Auburn University Central State University Kenyon College
Fordham University
Babson College Centre College Kirk wood College
Framingham State College
Bard College Chaminade University Kutztown University
Franklin and Marshall College
Barnard College Chapman College Lake Erie College
03 Furman University
V Baruch College Christendom College Lake Forest School ofMgmt.
George Mason University
Bates College CBN University Lake Superior State University
Georgetown University
Baylor University The Citadel La Salle College
03 Georgia Southern University
Belhaven College City University of Bellevue Lawrence Tech University
u Georgia State University
Bellarmine College City University of New York Lehigh University
Georgia Tech University
> Bellevue College Claremont Graduate School Lehman College
Gettysburg College
Belmont Abbey College Claremont McKenna College Le Moyne College
Golden Gate University
Benedictine College Clark University Lesley College
Gordon Con well Theological Sem.
D Bennington College Clarkson University Goucher College Liberty University
Bentley College Clearwater Christian College Graceland College Linfield College
c Bethany College Clemson University Grove City College Long Island University
Biola University Cleveland State University Guilford College Louisiana State University
Birmingham Southern College Clinch Valley College Hamilton College Loyola College
Bishop College Colby College Hampshire College Loyola Marymount University
CD Bloomfield College Colgate University Hampton-Sydney College Loyola University
Boise State University College of the Holy Cross Harding University Macalester College

Boston College College of Marin Harvard University Manhattanville College
"o Bowdoin College College of Notre Dame Harvey Mudd College Marine Military Academy
U Bowling Green University College of Saint Thomas Haverford College Marquette University
Brandeis University College of the Southwest Hillsdale College Marymount College
Brigham Young University College of William and Mary Hiram College MassachusetLs Institute of Tech.
Brown University Colorado State University Hobart College McNeese State University
Bryn Mawr College Columbia University Hofstra University Memphis State University
Merced College Saint John's College Tuskegee Institute University of South Alabama
Mercer University Saint John's University Union College University of South Carolina
Mercyhurst College Saint Joseph's University United States Military Academy University of South Florida .
Merrimack College Saint Lawrence University United States Naval Academy University of Southern California y
Mesa College Saint Leo College University of Akron University of So. Mississippi
Metropolitan State College Saint Louis University University of Alabama University of Tampa
Miami University Saint Mary's College University of Arizona University of Tennessee
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Llewellyn H. Rockwell system." Mises was mentioned in

writes a regular column the Wall Street Journal, the London
\Q for the Orange County Register and Independent, Forbes, The Neiv Re
is the "Bad for Business" colum public, and many other publica
nist for the New American. He is tions. And Time Magazine and
also a frequent contributor to the Readers' Digest quoted Free Market
Los Angeles Times. One of their ed articles.
itors said he called Lew when he On Czechoslovakian reform,
wanted "something funny and the Washington Times reported
free market." Lew also published that Tomas Jesek, a key adviser to
in Conservative Review, The G.E.O. Finance Minister Vaclav Klaus,
Report (which appointed him a called himself a follower of Mises.
contributing editor), Patrick J. Mises Institute founder and presi Our student Alex Tabarrok was
dent, Llewellyn H. Rockwell
Buchanan's From theRight (which interviewed and quoted in In
appointed him a member of the sight magazine on international
editorial board), The Birmingham ates, and worst of all, he makes trade because of his article in The
Nezvs, The Arizona Republic, Chron sense."—Bruce Bradley, KMOX, Free Market, a typical occurrence.
icles, Antithesis, The Cleveland Plain St. Louis. And the writings of our student
Dealer, National Review, Human " in my hall of fame of and Free Market managing editor
Events, The Rothbard-Rockwell Re guests. He always provides an in Jeffrey A. Tucker appeared in
port, and The Boston Globe, among formed, articulate, biting, conser such publications as The World
other publications. vative view of the world. Lew, I and I, Crisis (where he has been
Lew also did hundreds of
love you!"—Bob Lee, KSL, Salt appointed a columnist), Antithe
radio and TV interviews on the
Lake City. sis, and Chronicles.
federal budget, environmental " an extraordinarily pro John Elvin's "Inside the
ism, taxes, regulation, and many vocative guest, not only because Beltway" column for the Wash
other topics. He has appeared he says things that strike many ington Times, the paper's most-
several times on CNN's Crossfire people as outrageous, but be read feature, has mentioned Lew
and the Financial News Network. cause he backs his views with icy and the Mises Institute a number
The Washington Times's influen logic."—Lee Rogers, KGO, San of times this year. Mr. Elvin
tial columnist John Elvin, report Francisco. frequently quotes from our
ing on Lew's FNN debate with The media are taking greater publications.
Denis Hayes, founder of Earth notice of our ideas, especially in Columnist George Will
Day, named Lew "Mr. Anti-Earth light of last year's events in the praised Ludwig von Mises and
Day," and said he left Hayes look socialist bloc. Even a Washington FA. Hayek: they "taught not only
ing a "little green." Post business column admitted the efficacy of free markets as ra
Lew received raves for his that Mises "had been right all tional allocators of resources but
writing from such notables as along—the command economy also the morality of capitalism by
Walter Williams and Howard
simply couldn't do without the virtue of its connection with free
Philips. And Pat Buchanan called information conveyed by a price political arrangements." And col
it "rich, spicy, tough, brims with umnist Warren Brookes wrote an
confidence, and sends a message: article honoring Ludwig von
'Hey, fellas, you've been pushing Mises for his role in the collapse
us around for a long time; why of socialism.
We are producing an impor
don't you come outside and let's
get it on?'" Wee are producing tant film with Independent Tele
vision News of San Francisco on
A letter to the editor of the an important film Ludwig von Mises's life and
New American about one of Lew's with Independent work. Our director is the Emmy-
columns said "I loved it! It zings! Award-winning Sandy Gar-
It's pure von Mises!" And talk- Television News of
ritano. Amazingly, this is the first
show hosts say Lew... San Francisco on film to be made on this great man
" a troublemaker—my Ludwig von Mises s and his significance. Intended pri
highest compliment. What makes marily for classroom use, it will
him good is not just his point of
life and work. also appear on television. Al
view, but the fervor with which he ready, a producer for PBS has ex
proclaims it. He goads, he infuri- pressed interest.
On the Movement Front

The collapse of commu ernment, this new scholarly orga One man wrote us: "It is a
nism abroad, and the nization—created by the Mises In pleasure to be able to work with
rise of statism at home, has led to stitute, the Rockford Institute, and the Institute toward the develop 11
a remarkable shift in the ideologi the Center for Libertarian Stud ment of truly free markets. It is
cal climate, as the right splits over ies—is building a coalition for very important, from a personal
the use of American military conservatives, libertarians, and standpoint, for an individual from
power for a "New World Order." classical liberals who have refused a country with a strong socialistic
to sell out to Washington. prejudice in all the political op
As a result of this, Murray
Rothbard and Lew Rockwell We met in Dallas, and heard tions of government, universities,
were invited to be charter mem from M.E. Bradford, Murray the press, you name it... to be in
bers of the Main Street Commit Rothbard, Samuel T. Francis, Joe touch with an uncompromising
tee of the Rockford Institute, and Sobran, Thomas Fleming of Chron institution on individual liberty
Murray was a featured speaker icles, Lew Rockwell, Ronald Ham- and private property."
at the first Main Street meeting, owy of the University of Alberta,
This year, as was fitting, two
held in conjunction with the Christian Kopff of the University
famous Marxist academics ad
Philadelphia Society, on "An of Colorado, and Bill Murchison.
mitted "Mises was right": Robert
Agenda for the Right." Other
John Judis, writing in Ameri Heilbroner of the New School, in
members of the committee in
clude Forrest McDonald of the can Progress, said Murray and Lew weasely fashion in an article in
University of Alabama; our are spearheading this new move the New Yorker, and Eugene Gen-
media fellow William Murchison ment. ovese of the University of Geor
of the Dallas Morning Nezvs; gia much more forthrightly in
Our Eastern European mail Commentary. Genovese said the
Howard Philips of the Conserva ing list has exploded, and we have
tive Caucus; Robert Nisbet of Co- "socialist collapse" was caused by
arranged for many boxes of free-
lumbia University; and M.E. "state ownership of the means of
market books to be delivered
Bradford of the University of production" and for the "reasons
there. An assistant minister of fi
Dallas. that Ludwig von Mises long ago
nance in Czechoslovakia vowed
identified." In the same article,
In November, we helped host that our books will "be used by
the entire Ministry of Finance as Genovese praised the "morally re
the first meeting of the John Ran
dolph Club. Named after the we move forward to change our sponsible Murray Rothbard" for
hardcore Jeffersonian who occa economic structure." Now if we
his "admirable protest" against
sionally thought his friend could only say that about the "cultural unraveling" and
Thomas had sold out to big gov United States Treasury! "libertinism."

M r s . Ludwig von Mises, our chairman,

celebrated her 100th birthday in July.Mur
ray and Joey Rothbard represented the Institute at the
small party in her New York apartment, the one she and
her husband moved into in 1940. After several hours,
they wondered if Mrs. Mises wasn't getting tired, and ro
oughtn't they to go. "No," she answered. "After all, one
doesn't have an affair like this every day!"
Our new building: With a magnificent matching
gift, O.P. Alford, III, will make possible a permanent O.P. Alford, III (left) accepts the neon Mises
Institute logo from Greg Baron.

home for the Institute on the Auburn University cam

pus—for our students, library, and work areas. But
we'll need your help as well. More about this next year!
Margit von Mises Gracing the lobby of our new building will be a
large neon representation of the Institute's logo, a gift
of neon artist Greg Baron of Illinois. Mises's ideas
have always shincd in the academic world, but now
they really do!
Patron Members, Corporations, and Foundations
'resident James Martin John E. McCleskey Bedford Investment Group Mis-Pat Enterprises
Piof Auburn University Ellice McDonald Blanchard and Company Mobil Oil
,, — says: "The Miscs Institute contrib- Raymond E. McGowan BOC Group Monex International
| /j utes significantly to the economics A. Minis Boss Trucking Company W.R. Montgomery and Associates
program at Auburn, and wc appre
Mr. and Mrs. Alexander Moore Brazosport Clinic Morehouse Printing
ciate the visibility the Institute pro
vides Auburn through its Wiley L. Mossy Camino Company Mother Lode Gold Mines
association with the campus." Frank Mutz C.N. Carley Associates Moundridge Telephone Company
Nothing would be possible Mr. and Mrs. Gregory T. Mutz Carnel, Inc. Northern States Power Company
without our thousands of individ Victor Niederhoffer Carret and Company New England Plating
ual and family Members. Our grat Dr. Richard W. Pooley Carrizo Creek Corporation Newcastle Industries
itude goes to all of them, as well as Mildred A. Reeves Carver Hunt, Inc. New England Electric Company
our pledge to work even harder in James M. Rodney Cloud and Associates
Niederhoffer, Cross, and
1991 for the free market, private Catherine Dixon Roland Creative Computer Systems Zeckhauser
property, and sound money.Special Leslie Rose Cross Industries Omneon
thanks, of course, go to our Patron
Sheldon Rose Daley Enterprises Omni Apex Management
Members, as well as to our corpo
rate and foundation supporters. Steven Rothacker Dan's Carpet Cleaning ORBEX
Adolf Schoepe Davis-Lynch, Inc. Orbit Finer Foods
Patron Members Leland W. Schubert Detroit Forming Paola Lumber and Coal Co.
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Gene E. Allen Clifton Siegelin Dow Chemical Company Perkins and Associates
Anonymous Mark Skousen Dunn Capital Management
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Physical Therapy Association of
Dr. J.C. Arthur Louis M. Stcfanelli EBCO Enterprises San Antonio
Bernard Baltic Robert T. Stevens Elkhart Brass Manufacturers Pittsburgh Valve and Fitting
Edward Banczak David F. Swain, Jr. Equitable Life Assurance Society Pool Investment Company
Greg Baron Dr. Benjamin H. Thurman Eye Surgical Centers Professionals Unlimited
George H. Barry Jay Van Andel Fiesta Salons Quality Farm Services
Everett Berg Lawrence Van Someren, Sr. Fluidmaster
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Mrs. Somers von Behron Franklin and Downs Funeral
James U. Blanchard, III Ring Can Corporation
Dallas R. Woir Homes
Ronald L. Blewitt The Recyclery
Freeway Fasteners
Eugene W. Bluemly Foundations Romer Ltd. Partnership
Guardian Life
Burton S. Blumert Santangini Financial Planners
AHS Foundation Gobins Properties
Sam Bright Amway Foundation Shamie Management Corp.
Frank W. Gorman and Sons
William R. Burgess Shaw Oxygen Company
Adams Fund Grober Company
Louis Carabini Shell Oil Company
Armstrong Foundation Group Dekko International
Philip L. Carrot Shoemaker's Candies
AT&T Foundation Halam Corporation
William B. Coberly, Jr. W.R. Burgess Foundation Silver River Logging &Trucking
Hodde Agency
Christopher P. Condon Caterpillar Foundation Southern Bell
Huff Furniture-
Morgan Cowperthwaite Chicago Title & Trust Co. Steinberg Steel Company
Inland Ocean
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JBM London Insurance Sylvan Associates
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Company Tandy Corporation
John I,. Doyle Thelma Dixon Foundation
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Dr. William A. Dunn Ralph and Marion Falk
K-Mart Corporation Telemechanics
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Atlee Kohl Applied Biosystems Material Exchange Agency Jim Ware Company
Julie Lauer-Leonardi Archer Lumber Company Matrix Enterprises Warner Properties
Hugh E. Ledbetter Artios Window Cleaning Supplies McCleskey Gin Weaver Potato Chip Company-
William Lowndes, III Bay Cities Ixjck and Safe Medart, Inc. Weil Enterprises
Ronald Mandle BEA Associates Meyeres Real Estate Woodwind Repair Service
Forrest E. Mars Beck Construction Michigan Carbonic Company F.W. Woolworth Company
Mr. and Mrs. G.F. Maughmer R.W. Beckett Corporation Miles and Associates Zignego Company