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.
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History vs Economics: Explaining the Causes of the Great Depression
2024-01-10
“Who controls the past now, controls the future. Who controls the present now, controls the past.”
That is from “Testify,” a song by newly minted rock ‘n’ roll Hall of Famers Rage against the Machine. I don’t know if Phillip W. Magness of the American Institute for Economic Research is fan enough to be familiar with that, but I bet he knows the original source: George Orwell’s 1984.
Whether or not it informed a recent study he coauthored is unclear, but that line has been ringing in my head ever since I read Magness’s summary.
Magness, along with Jeremy Horpedahl and Marcus Witcher, professors of economics and history respectively at the University of Central Arkansas, discovered differences between how college-level introductory economics and history textbooks document the causes of the
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