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1989 Year End Round-Up Ludwig Von Mises Institute

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1989 Year End Round-up From the Ludwig von Mises Institute In 1989, as in our previous six years, we offered famous monetary expert, Professor David Meisel- a wide array of programs in the academic, policy, and man. Student Amy Marshall supervises the collo popular arenas—all to promote the thought of Lud quium at UNLV and assists Professor Murray N. wig von Mises, the "Austrian" school of economics, Rothbard with his history of economic thought mag the free market, private property, individual liberty, num opus; student Parth Shah runs the colloquium and sound money. at Auburn; student Mark Hughes finished a book on To our generous individual Members in all 50 the economics of charity to be published by the states and 49 foreign countries, and to the farseeing Fraser Institute; and student Jeffrey A. Tucker super foundations and businesses that join them, we say vises Fertig Center programs, and is managing editor Thank You for makingthis all possible. of The Free Market. And this year we had the pleasure of seeing our former student, George Selgin, join the To keep faith with our ideals and with our do faculty of the University of Georgia, and another nors, we strive to be effective and principled, and to former student, Mark Thornton, join the faculty of do a lot with a little. If you like what you read in this Auburn University as O. P. Alford III Adjunct Assis precis of 1989, please help as much as you can. We tant Professor of Austrian Economics, just the first refuse to accept government funding and our uncom- of what we hope will be a number of similar profes ince ^recUides-establishment financial sorships. Please^see page 7 for a list of just some of backing, so we depend on those people who believe the schools whose students and teachers we helped in individual liberty and the free market, and who this academic year. oppose government meddlingin our economy. Every tax-deductible dollar sent tothe Institute goes a long way—as you will see: ublications tudents Two: Money, Method, and the Market Process—This One: new collection of little-known and unpublished arti This year, Institute Members made it possible for cles by Ludwig von Mises has just rolled off the us to aid directly 160 top free-market students. An presses. Compiled by Margit von Mises and edited additional 2,140 students received free books and by Richard Ebeling, it is the best one-volume com other help. The students chosen by the Institute are pendium of Mises's thought. Included are 21 essays proven quantities, anxious to dedicate their lives to on philosophy and methodology, money and the teaching and research in the free market. Our help business cycle, along with ringing defenses of lib enables them to advance to their utmost potential. erty, Western civilization, free trade, and the free These bright students will go on—as a number already market. Many of the articles shed new light on as have—to teach others about the free market. They will pects of Mises's thought. One section, for example, exert an influence for good for decades into the future. shows Mises's understanding of the dynamic that Some highlights: our student Peter Klein (Uni unites pressure groups and politicians in a conspir versity of California, Berkeley) worked as an assis acy against the public. tant to Professor William Bartley on the collected Human Action is Mises's masterpiece, but at 900 works of F. A. Hayek. So outstanding was his work pages it is a formidable task. There has long been a that Professor Bartley asked him to edit one of the pressing need for a more portable collection of forthcoming volumes! Our student Richard Hite (Vir Mises's economic theory and policy. That's the void ginia Polytechnic) was appointed an assistant to the filled by Money, Method, and the Market Process. Year End Round-up, 1989 The Ludwig von Mises Institute Three: scholarlyjournaldevoted totheadvancementof the Nearing completion is an important collection Austrian school. Included in this year's issue are a of essays called The Meaning of Ludwig von Mises, series of pathbreaking articles, including Murray edited by Institute president Llewellyn H. Rockwell, Rothbard on the role of millennialist heresies in Jr. A companion volume to the new book by Mises, Marxism,Ralph Raico on German liberalism, Joseph it provides an overview of his thought on econom Salerno's new interpretation of Mises's theory of ics, ethics, history, politics, sociology, and philoso economiccalculation;ThomasDiLorenzoonthesub phy. The volume grew out of a Mises Institute jectivism of James Buchanan; Hans-Hermann Hoppe conference at Pace University. Contributors, among on free-market banking institutions and how govern others, include Murray N. Rothbard, Roger W. Garri ment subverts them, and Jeffrey Rogers Hummel on son, Israel Kirzner, Joseph Salerno, Walter Block, public goods and national defense. Leland Yeager, and Hans-Hermann Hoppe. Kluwer Academic Publishers will prepare a hardbound edition for libraries and a paperback for Four: general distribution at a much more affordable price. In the same status is an important book called The Federal Reserve: History, Economics, Politics, ed Eight: ited by Lew Rockwell. Like all of the Institute's pub The Free Market Reader is lively, informative, lications, this book will take a non-wishy-washy and hardhitting. One student from Texas said he position for the abolition of the Fed and the estab "devoured it like dessert." It has been praised by lishment of a real gold standard. popular and academic audiences alike, and it was an alternate selection of the Conservative Book Club. Five: Richard B. Bleiberg wrote in the Laissez-Faire Re One of Mises's most important essays is "Eco view that the Free Market Reader is a "primer on nomic Calculation in the Socialist Commonwealth,'' freedom market economics in plain English! Until written in 1920. It first showed that socialism is recently the only title worth recommending was impossible, since it must fail to rationally allocate Henry Hazlitt's Economics in One Lesson. Now, a resources. Today, even Eastern European govern second title has arrived." It has also been adopted ment officials recognize that Mises was right. To as a college and secondary text. commemorate the intellectual collapse of socialism, "National Review said of the Free MarketReader and Mises's foretelling of it, the Mises Institute will that they wished they "could describe it without republish this essay in monograph-form, ~~ — a^n-g^fch^-R-woTdr because to say tt-*s *aJbmrt— economics' will immediately repel some readers Six: who assume that the subject must be boring, tech We have been pleased bythe reception for Man, nical, or beyond their ken. In fact, it is thoroughly Economy, and Liberty, the 423-page collection of es lively, in the spirit of one of its patron saints, Henry says celebrating the life and work of Murray N. Hazlitt. What it does unremittingly is to connect Rothbard, published by the Ludwig von Mises Insti economics with politics and ethics." tute this year. Even given the book's massive scope— Because of the demand, we are preparing The economics, history, philosophy, politics—it doesn't Free Market Reader II. It will contain more of same: touch on all of the contributions that Rothbard has fascinating, hardcore, cutting-edge articles by Mur made, and continues to make, in these fields and ray Rothbard, Lew Rockwell, Joe Sobran, Doug others. Bandow, Jim Bovard, Tom Bethell, and many others. Said the National Review: "Ludwig von Mises and Murray N. Rothbard are godfathers to a whole Nine: new school of economists who not only make the Hans-Hermann Hoppe's A Theory ofSocialism dismal science sing," but who also "are doing the and Capitalism, published by Kluwer Academic bulk of principled thinking on government today." Publishers and the Mises Institute, is being trans Rothbard, who "makes Ayn Rand look like a Tory" lated into Korean and will be published by the has "a free-wheeling way of exploding ideas you Economic Research Institute of the Federation of didn't realize you held." Scholars in Europe and Latin Korean Industrialists, the biggest non-profit orga America also hailed the book, with a scholarly jour nization in South Korea. They are convinced that it nal in Argentina published by the free-market ESE- is just the book to refute Marxists and Keynesians ADEgraduate school translating many of the papers. in Korea's universities and mass media. The first edition of A Theory of Socialism and Seven: Capitalism sold out. Kluwer is bringing out a second The Review of Austrian Economics IV is now edition, and it will sooncomeout in Portugueseas well. available. This year's volume continues to uphold (We're waiting for an East German edition, however!) the tradition of scholarship in Austrian economics Also, sixof MurrayRothbard's books are beingtrans that the Review is known for, as the world's only lated into French by a major publisher. The Ludwig von Mises Institute Year End Round-up, 1989 Ten: regulation, unions, the imperial judiciary, the eco The Free Market newsletter is an 8-page monthly nomics of the drug war, government-subsidized of growing influence, with its articles reprinted in arts, a constitutional amendment against flag burn more and more newspapers. Why the success? Be ing, gun control, the S&L bailout, and many other causewe promoteideas otherswon't touch. Who else controversies. calls for shutting down the World Bank, the Interna tional Trade Commission, NASA, the public school Fifteen: monopoly, the Federal Reserve, government AIDS re Using library research organizations such as search, the income tax, the drug war, the farm pro ERIC and the Business Index, the Institute will be gram, the New Deal, the Great Society, and all "civil distributing its publications electronically to more rights" schemes? The Free Market is unique.
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