Every year in July, the Mises Institute hosts its much awaited flagship program on Austrian economics, Mises University, often dubbed the “best week of the year” by libertarians alike. Chicago Thinker staff members Shubhaankar Gupta and Kellen Riall participated in this year’s edition of the program, occurring from July 20 – July 26 in Auburn, Alabama.
The Institute brought together over 120 students, scholars, faculty, and administrators to the common goal of advancing education in the Austrian school of economics. Spread across roughly 45 seminar-style lectures on topics ranging from money and banking to entrepreneurship and security, and social events for scholars to connect over, the event invited extensive discussion on the role of government in a free society. Notable faculty in-residence included Joseph Salerno (leading Austrian economist), Tom Woods (host of the Tom Woods Show), Thomas DiLorenzo (president of the Mises Institute), and Peter Klein (leading economist and author).
The Austrian tradition of economics, founded by Carl Menger and advanced by figures such as Ludwig von Mises (namesake of the Institute), Friedrich Hayek, and Murray Rothbard, emphasizes individual choice, restricted government intervention, and spontaneous market order. Similarly, Hayek’s “knowledge problem” challenges the notion that precise, instantaneous economic data is widely knowable, rejecting left-wing, Keynesian interventionist public policy prescriptions. During Mises University, students critically engage with these ideas and examine today’s major policy debates through an Austrian lens.
Established in 1982, the Mises Institute fosters rigorous scholarship around the principles of Austrian economics, liberty, and peace. Through its various events like Mises University, the Institute equips new generations with the analytical tools necessary to effectively advocate for liberty and sound economic policy in today’s world.