The Ludwig Von Mises institute of Canada was founded in November of 2010 in order to spread the teachings of the Austrian School of Economics to Canada.
It has been 80 years since the beginning of what later became known as the “great depression”. As a reaction to this global crisis, the Canadian Government of the time decided on a path of intervention into society and the economy that had been sweeping the developed world.
A quote from R.B. Bennett (Conservative PM of Canada, August 7, 1930 - October 23, 1935) with his own Canadian take on the New Deal
“In my mind reform means government intervention. It means government control and regulation. It means the end of Laissez-faire …. I summon the power of the state to its support”
It is the mission of the Mises Institute of Canada to educate the public to the importance of placing human choice at the center of economic theory, to encourage a revival of critical historical research, and to advance the Misesian tradition of thought through the defense of the market economy, private property, sound money, and peaceful international relations.
“Austrian” economics owes its name to the historic fact that it was founded and first elaborated by three Austrians-Carl Menger (1840-1921), Friedrich von Wieser (1851-1926), and Eugen von Bohm-Bawerk (1851-1914). The latter two built upon Menger, though Bohm-Bawerk, in particular, made important additional contributions.
The Institute is named after one of the most notable economists and social philosophers of the twentieth century Ludwig von Mises (1881-1973). In the course of a long and highly productive life, von Mises developed an integrated, deductive science of economics based on the fundamental axiom that individual human beings act purposely to achieve desired goals. Even though his economic analysis itself was “value-free” in the sense of being irrelevant to values held by economists – Mises concluded that the only viable economic policy for the human race was a policy of unrestricted laissez-faire, of free markets and the unhampered exercise of the right of private property, with government strictly limited to the defense of person and property within its territorial area.