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Articles by Patrick Newman
The Texas Question: 1836-1848
Editor’s note: this article is a selection from Chapter 16 ofCronyism: Liberty versus Power in Early America: “Resurrecting the American System: The Growth of Imperialism.” The Texas Question Similar to the Louisiana Purchase, Texas annexation drastically increased the United States’ size and thereby exploded the American Empire’s power. Several interests supported annexation. First, debt holders wanted Congress to bail out the Texas government.
American Imperialism and Jackson’s Indian “Removal”
Editor’s note: this article is a selection from Chapter 16 of Cronyism: Liberty versus Power in Early America: “Resurrecting the American System: The Growth of Imperialism.” In this section, author Patrick Newman discusses how Jacksonian Indian policy paved the way for imperial westward expansion in the mid-nineteenth century.
Faculty Spotlight-Patrick Newman
The Misesian: First, what was it like seeing a book that you edited, Murray Rothbard’s The Progressive Era, referenced in one of Clarence Thomas’s Supreme Court opinions this cycle? Patrick Newman: That was definitely a surprise. I was certainly thrilled. It’s great that Rothbard is getting this type of exposure for his history, being appreciated not just by Austrian economists but by a Supreme Court justice.
The Human Action Podcast Tags: Cronyism and Corporatism, The Fed, U.S. History 08/21/2026 • Robert P. Murphy • Patrick Newman What is the Mises Institute? Become a Member
Patrick Newman on the Rise of the Corporatist State
Dr. Patrick Newman speaks to Bob about his new book, which reviews how big business built the regulatory state, the Fed, and cartels like the AMA, all
Cronyism: The Rise of the Corporatist State, 1849–1929
Tags: Cronyism and Corporatism, U.S. History Meet the Author Patrick Newman The audiobook version is coming soon. This book is about the birth of the corporatist state in America. It did not occur instantaneously or even within a couple of years; it spanned the eight decades from the collapse of the Jacksonian Democrats in 07/27/2026 • Joseph T.
Introduction
Murray N. Rothbard: The Making of an Austrian Economist Tags: Austrian Economics Overview, History of the Austrian School of Economics, Biographies 07/27/2026 • Joseph T. Salerno • Patrick Newman What is the Mises Institute? Become a Member
The Making of an Austrian Economist
Mises U 2026 Tags: History of the Austrian School of Economics, Praxeology, Production Theory What is the Mises Institute? Become a Member
Cronyism: The Origins of the Federal Reserve
Drawing on his new book Cronyism: Rise of the Corporate Estate, 1849–1929, Patrick Newman makes the case that the Federal Reserve is the signature example of policy that serves a special interest at the public’s expense. He first dismantles the standard justification — modern research finds the pre-Fed panics were less severe than advertised, and the real problems traced to regulations like the branch-banking ban.
The Austrian Theory of the Business Cycle
Patrick Newman lays out the Austrian theory of the business cycle—one of the school’s signature contributions. He first shows how genuine savings drives sustainable growth by lengthening the structure of production, then explains how central-bank credit expansion counterfeits that process: pushing interest rates below their natural level sends a false signal, luring entrepreneurs into long-term investments that real resources can’t sustain.
The Austrian Theory of the Business Cycle
The recession isn't the disease, it's the cure. Patrick Newman on why the Austrians blame the boom, not the bust, and trace it all to one cause.
Why Rothbard Is as Relevant as Ever
Audio Mises Wire Tags: History of the Austrian School of Economics, Economic Policy, Free Markets What is the Mises Institute? Become a Member
Mises and Rothbard on Credit Contraction during a Downturn
The Influence and Significance of Human Action After 75 Years What is the Mises Institute? Become a Member
Why Rothbard Is as Relevant as Ever
Murray N. Rothbard is one of the all-time greats in Austrian economics and libertarianism. Period. When one studies his work and comprehends the overarching system he built, one immediately recognizes that Rothbard is indeed a giant whose shoulders free market scholars should aspire to stand on. Most academics hope to produce meaningful research that answers some narrow theoretical or empirical question. Many popular writers yearn to publish one acclaimed article or book sometime in their career.
How the Jacksonians Caused America’s Industrial Revolution
Audio Mises Wire Tags: Economic Policy, Free Markets, U.S. Economy, U.S. History What is the Mises Institute? Become a Member
How the Jacksonians Caused America’s Industrial Revolution
The 250th anniversary of the Declaration of Independence and America’s formal secession from Great Britain will be a fruitful year for studying American history. Scholars will look back on America’s successes and failures and what they mean for the 21st century. After all, we must remember what caused the American economy to thrive and bring prosperity to millions.
A Closer Look at John C. Calhoun
Radio Rothbard Tags: Cronyism and Corporatism, Politics, Secession, U.S. History 01/16/2026 • Ryan McMaken • Patrick Newman What is the Mises Institute? Become a Member
Book Review: The Gold Standard: Retrospect and Prospect
The Gold Standard: Retrospect and Prospect edited by Peter C. Earle and William J. Luther Great Barrington, Mass.: American Institute for Economic Research, 2021; 342 pp. Patrick Newman (patrick.newm1@gmail.com) is assistant professor of economics at Florida Southern College and a fellow of its Center for Free Enterprise. He is also a fellow of the Mises Institute.
The Marshall Plan Slush Fund: Cronyism for US Exporters
Revisionist History of War Conference Tags: U.S. History, War and Foreign Policy What is the Mises Institute? Become a Member
Even the Inventor of GDP Statistics Knew Government Spending Was Dubious
Patrick Newman joins Bob to discuss one of his talks at the Austrian Economics Research Conference (AERC), where he explained that Simon Kuznets–who developed the method of calculating GNP and GDP statistics–had serious doubts about how to include government expenditures.
How Executive Power Can Dismantle the Deep State
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.
Cronyism in America
How many times have you seen a politician, businessman, union, or activist group clamoring for the government to do something on the grounds that it will improve the public weal? “We need higher minimum wages to benefit the working class,” a union official says.
Cronyism and Historical Revisionism
On this episode of Radio Rothbard, Ryan McMaken and Tho Bishop are joined by Patrick Newman. The three discuss Dr. Newman’s upcoming book, Cronyism: Rise of the Corporatist State, 1849–1929, the importance of historical revisionism in the battle against statism, and the dynamics that led to American politics being captured by special interests.
Cronyism in America: The Nation’s First Big Business
Mises U 2024 Tags: Austrian Economics Overview, Interventionism, Big Government What is the Mises Institute? Become a Member
The Austrian Theory of the Business Cycle
Mises U 2024 Tags: Austrian Economics Overview, Business Cycles What is the Mises Institute? Become a Member
Calculation and Socialism
Mises U 2024 Tags: Austrian Economics Overview, Calculation and Knowledge, Other Schools of Thought What is the Mises Institute? Become a Member
Mises and Rothbard on Credit Contraction during a Downturn
Human Action Conference What is the Mises Institute? Become a Member
The Redistributive Effects on Monetary Policy | Patrick Newman
Home | Mises Library | The Redistributive Effects on Monetary Policy The Redistributive Effects on Monetary Policy Tags The FedInflationMonetary PolicyMoney and Banking Recorded in Tampa, Florida, on February 17, 2024. Special thanks to Liberty Villages and the Shrader family for sponsoring this event. Note: The views expressed on Mises.org are not necessarily those of the Mises Institute.
2024 Predictions (and New Years Resolutions) | Ryan McMaken, Tho Bishop, Patrick Newman
Home | Mises Library | 2024 Predictions (and New Years Resolutions) 2024 Predictions (and New Years Resolutions) Tags Cronyism and CorporatismMonetary PolicyU.S. Economy On the final Radio Rothbard of 2023, Ryan McMaken and Tho Bishop are joined by Patrick Newman. At a recent Mises event, Newman made some bold predictions about the Federal Reserve's actions in 2024, some of which already look to becoming true.
Wall Street and the Origins of Bretton Woods | Patrick Newman
Home | Mises Library | Wall Street and the Origins of Bretton Woods Wall Street and the Origins of Bretton Woods Tags Central BanksCronyism and CorporatismPoliticsU.S. History Note: The views expressed on Mises.org are not necessarily those of the Mises Institute.
Cronyism in America: How the AMA Cartelized the Medical Profession | Patrick Newman
Home | Mises Library | Cronyism in America: How the AMA Cartelized the Medical Profession Cronyism in America: How the AMA Cartelized the Medical Profession Tags HealthProgressivism In the Progressive Era (1897 to 1929) the American Medical Association made an effort to restrict the supply of doctors. Download lecture slides at Mises.org/MU23_PPT_18. Recorded at the Mises Institute in Auburn, Alabama, on 26 July 2023.
MMT Says Government Debt Makes Private Saving Possible | Robert P. Murphy, Patrick Newman
Mises Institute Fellow Patrick Newman joins Bob to discuss a recent tweet from Stephanie Kelton, which argued that the government's "red ink makes our black ink possible." Patrick and Bob point out that these MMT tautologies are very misleading at best. Patrick also lays out the argument in his journal article, saying that MMT's debt monetization won't cause a boom-bust cycle, but will still reduce living standards.
How to Think about the Economy
This little book was written to accomplish something big: economic literacy. It is intentionally kept very short to be inviting rather than intimidating. You will gain life-changing understanding of how the economy works in practically no time. Per Bylund will make you excited about what economics has to offer, because economic literacy is mind-opening. Sound economic reasoning is an enormously powerful tool for understanding both the economy and society.
Guest comment: Latest saga in homeless holocaust
HomeOpinionsGuest comment: Latest saga in homeless holocaust After six months of fencing off Chico City Plaza, most of this time to include the barricading of sidewalks, restrooms and the only water fountain within a mile, the fence came down on April 22. And so ended another episode in our ongoing homeless holocaust. Whether any city leaders ever admitted it publicly, the fence was there to deprive the homeless of this public space.
How the Jacksonians Killed the Bank | Tho Bishop, Patrick Newman
Home | Mises Library | How the Jacksonians Killed the Bank How the Jacksonians Killed the Bank Tags U.S. HistoryPolitical Theory 02/16/2022Tho BishopPatrick Newman General Andrew Jackson, fresh off the election of 1828, assumes the office of the presidency, armed with a battle plan to bring down the institutions he blames for the corruption of the republic: America's National Bank. In this episode of Liberty vs.
Your History Teacher Lied about the "Era of Good Feelings" | Tho Bishop, Patrick Newman
Home | Mises Library | Your History Teacher Lied about the "Era of Good Feelings" Your History Teacher Lied about the "Era of Good Feelings" Tags Central BanksU.S. EconomyU.S. History 02/02/2022Tho BishopPatrick Newman Virginia's stranglehold over American politics continues with President James Monroe.
Liberty vs. Power
Liberty vs. Power is a history podcast dedicated to what Murray Rothbard saw as the noble task of libertarians: "to de-bamboozle: to penetrate the fog of lies and deception of the State and its Court Intellectuals." Featuring Dr. Patrick Newman and Tho Bishop, each episode is dedicated to exposing the cronyism that has fueled the growth of the American empire, and celebrating those precious victories in defense of liberty.
Hamilton's Curse | Tho Bishop, Patrick Newman
Home | Mises Library | Hamilton's Curse Hamilton's Curse Tags U.S. HistoryPolitical Theory 01/05/2022Tho BishopPatrick Newman With the Constitution in place and George Washington made president, Treasury Secretary Alexander Hamilton was empowered to make the new government in his image. Unsurprisingly, a man who celebrated the corruption of the old European order was quick to install a regime inspired by mercantilists like Jean-Baptiste Colbert.
America's Radical Revolution and the Constitutional Coup | Tho Bishop, Patrick Newman
Home | Mises Library | America's Radical Revolution and the Constitutional Coup America's Radical Revolution and the Constitutional Coup Tags U.S. HistoryPolitical Theory 12/29/2021Tho BishopPatrick Newman How did a handful of colonies created by the European Old Order establish a unique nation conceived in liberty? In Episode 2 of the Liberty vs. Power Podcast, Patrick Newman and Tho Bishop discuss the lasting tension between the Spirit of 1776 and the Constitution of 1787.
Cronyism: Liberty versus Power in Early America, 1607–1849 | Patrick Newman
Home | Mises Library | Cronyism: Liberty versus Power in Early America, 1607–1849 Cronyism: Liberty versus Power in Early America, 1607–1849 Tags Cronyism and CorporatismU.S. History From the Introduction to Cronyism: Liberty versus Power in Early America, 1607–1849. The present book is an economic and political history of early America, describing government policies and their effects on marketplace activity.
Rothbard's History of Economic Thought from Greeks to Physiocrats | Jeff Deist, Patrick Newman
Was Adam Smith the founder of modern economics? Not so, says Murray Rothbard in his staggering two-volume An Austrian Perspective on the History of Economic Thought. Dr. Patrick Newman joins the show for a look at Rothbard's treatment of economics before Smith—from the Ancient Greeks all the way to the Scottish Enlightenment—and his take no prisoners revisionist approach.
How Nixon and the Rockefellers Teamed Up to Destroy the Dollar | Patrick Newman
Home | Wire | How Nixon and the Rockefellers Teamed Up to Destroy the Dollar How Nixon and the Rockefellers Teamed Up to Destroy the Dollar Tags Money and Banks August 15 marks a special date in American history: it commemorates the fiftieth anniversary of President Richard Nixon’s suspension of Bretton Woods. With this decision, the United States stopped redeeming foreign governments’ and banks’ dollars for gold.
Cronyism: Liberty versus Power in America, 1607-1849 | Patrick Newman
Home | Mises Library | Cronyism: Liberty versus Power in America, 1607-1849 Cronyism: Liberty versus Power in America, 1607-1849 Tags ProgressivismU.S. EconomyU.S. History 07/23/2021Patrick Newman Download the slides from this lecture at Mises.org/MU21_PPT_37. Recorded at the Mises Institute in Auburn, Alabama, on 23 July 2021. Click here to learn more about Dr. Newman's book. Note: The views expressed on Mises.org are not necessarily those of the Mises Institute.
Human rights and our homeless neighbors
HomeOpinionsHuman rights and our homeless neighbors Adopted in the wake of the horrors of World War II, the United Nations Universal Declaration of Human Rights is no less relevant today, especially in view of the horrors visited upon Chico’s homeless population.
Dr. Patrick Newman on Cronyism in America | Jeff Deist, Patrick Newman
Professor Patrick Newman, known for his incredible work editing Murray Rothbard's The Progressive Era and Conceived in Liberty, just finished a staggering new historical work titled Cronyism: Liberty vs. Power in Early America.
50 things Camosun College needs to do in its next 50 years
On September 16, 1971, Camosun College first opened its doors to students. This year, the college is celebrating its 50th anniversary, and it got us thinking about how far Camosun has come in 50 years. But where does it need to go from here? We tapped into our Nexus team to get, straight from the mouths of students, what the college needs to do. This isn’t press-release mumbo-jumbo or buzzword brand brainstorming.
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