Timothy D. Terrell
South Carolina
Economics professor. Senior Fellow @mises. Retweets not always endorsements. I sometimes post material with which I disagree. timothyterrell.net
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Articles by Timothy D. Terrell
Environmental Conservation
Mises U 2026 Tags: Calculation and Knowledge, Interventionism, The Environment What is the Mises Institute? Become a Member
Will You Ever Be Able to Buy a House?
Mises U 2026 Tags: Interventionism, Money and Banking, Free Markets What is the Mises Institute? Become a Member
Will You Ever Be Able to Buy a House?
Will You Ever Be Able to Buy a House? Last update July 22, 2026 Timothy D. Terrell 1 day ago SNB & CHF No, it isn't Blackstone, and the boomers didn't take it all. Timothy Terrell separates the housing myths from the real reasons you can't afford a house. Tags: Featured , newsletter 2026-07-22
Will You Ever Be Able to Buy a House?
No, it isn't Blackstone, and the boomers didn't take it all. Timothy Terrell separates the housing myths from the real reasons you can't afford a house.
Calculation and Socialism
Mises U 2026 Tags: Calculation and Knowledge, Other Schools of Thought, Socialism What is the Mises Institute? Become a Member
Calculation and Socialism
The socialist calculation problem isn't a museum piece from 1920s Moscow. It's the Bureau of Land Management, this year. Timothy Terrell on why
Why Is the Healthcare System Broken? Speaker Panel
Why Is the Healthcare System Broken? Mises Circle in New Hampshire Tags: Interventionism, Big Government, Health 07/15/2026 • Ryan McMaken • Timothy D. Terrell • Charles Sauer • Robert P. Murphy • Connor O'Keeffe What is the Mises Institute? Become a Member
The Rise of State-Controlled Medical Care
Why Is the Healthcare System Broken? Mises Circle in New Hampshire Tags: History of the Austrian School of Economics, Interventionism, Big Government, Health What is the Mises Institute? Become a Member
Calculation and Environmental Policy: Lessons from Human Action
The Influence and Significance of Human Action After 75 Years What is the Mises Institute? Become a Member
Natural Entrepreneurship
This article is adapted from a talk presented at the Entrepreneurship Beyond Politics Mises Circle on February 21, 2026, in Oklahoma City. Conflict over the natural world often originates in people’s different conceptions of how the natural world can and should be used. I like the many useful things people can make with the resources extracted from the land. Many people, like me, also enjoy wild land and views of wildlife.
'Nature-Al’ Entrepreneurship: Being Green Without the State
Entrepreneurship Beyond Politics: Mises Circle in Oklahoma City Tags: The Environment, The Entrepreneur, Free Markets, Property Rights What is the Mises Institute? Become a Member
Austrian Economics Advances in the QJAE
New developments in Austrian economics appear regularly in the Quarterly Journal of Austrian Economics. The QJAE is one of the top international outlets for scholarly research within the Austrian School of economics, publishing high-quality papers on a range of topics within the Austrian School. The QJAE is available online without a paywall and is listed in the Directory of Open Access Journals (DOAJ) for expanded reach and impact.
The Political Economy of Pesticides: How to Subsidize a Poison
Audio Mises Wire Tags: Bureaucracy and Regulation, The Environment, Politics What is the Mises Institute? Become a Member
The Political Economy of Pesticides: How to Subsidize a Poison
The “Make America Healthy Again” (MAHA) movement is well-known for its skepticism of chemical additives in foods, and of large-scale pesticide-intensive agriculture. With environmentalist and current US Secretary of Health and Human Services Robert F. Kennedy now leading the movement, many of the long-held concerns of environmentalists about toxins and food quality have found a curious place in the Trump administration.
Announcing a Special Issue of the QJAE
The year 2027 marks the centennial of the creation of the Austrian Institute for Business Cycle Research (Institut für Konjunkturforschung), founded in 1927 by Mises and directed by Hayek. The establishment of the Institute marks the start of the Austrian masters’ decades-long collaboration in developing and extending Austrian theory.
Land of the Free? Government Mismanagement of America’s Open Spaces
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.
New Scholarship in the QJAE and the JLS
New scholarly work is appearing regularly in the Quarterly Journal of Austrian Economics and the Journal of Libertarian Studies. The QJAE is one of the top international outlets for scholarly research within the Austrian School of economics, publishing high-quality papers on a range of topics within the Austrian School. The JLS, founded by Murray Rothbard, is an interdisciplinary journal advancing the libertarian intellectual tradition.
Bureaucrats in Ranger Hats: Why Government Park Management Fails
A couple of months ago, I obtained a permit from the US Forest Service to travel 4x4 and off highway vehicle trails in the Black Hills of South Dakota. The permit cost $25 plus postage, and was valid for a year. The trails my group rode on a Saturday turned out to be crowded with other vehicles, and we spent hours waiting for other groups to pass.
Environmental Conservation
Timothy Terrell challenges the mainstream view that markets fail to protect the environment, arguing instead that government intervention often distorts land use, fuels cronyism, and undermines conservation. Drawing on Austrian insights, historical examples, and striking contrasts in land management outcomes, Terrell makes the case for property rights and market-based stewardship as the true path to sustainability. Recorded at the Mises Institute in Auburn, Alabama, on July 25, 2025.
Money for Nothing: How Higher Ed Became Scammy
Tim Terrell offers a critical examination of higher education’s economic structure, exploring how federal subsidies, credential inflation, and misaligned incentives have driven rising costs and declining academic rigor. Drawing on Austrian insights, he questions whether universities still serve their educational mission, or have become consumption-driven institutions shaped by bureaucratic interests and distorted signals. Recorded at the Mises Institute in Auburn, Alabama, on July 24, 2025.
Why Government Lands Burn
Early in the morning of July 13, 2025, the Dragon Bravo Fire on the Grand Canyon’s North Rim consumed the historic 1930s Grand Canyon Lodge, the visitors’ center, and dozens of other structures in the national park. Ignited by lightning on July 4, the Park Service had initially chosen to manage the fire as an opportunity to burn through a buildup of fuel sources on the forest floor, but it escaped control when wind picked up a few days later.
Money for Nothing: Why We’re Spending More and Getting Less in American Education
Educating for Liberty: Mises Circle in Tampa Tags: Big Government, Bureaucracy and Regulation, Education What is the Mises Institute? Become a Member
Land, Agronomy, and State: My Time in the Soil Conservation Service
2024 Supporters Summit Tags: Monopoly and Competition, Big Government, Bureaucracy and Regulation What is the Mises Institute? Become a Member
Higher Education in Crisis
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.
Environmental Economics
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.
Product Safety Regulation
Mises U 2024 What is the Mises Institute? Become a Member
Calculation and Environmental Policy: Lessons from Human Action
Human Action Conference What is the Mises Institute? Become a Member
The Dollar Crisis of 1861–1865: Greenbacks, Gold, and Confederate Dollars | Timothy D. Terrell
Timothy Terrell is professor of economics at Wofford College in Spartanburg, South Carolina. He is assistant editor of the Quarterly Journal of Austrian Economics and is a Senior Fellow of the Mises Institute.
Faculty Panel: Policy and History | Per Bylund, Tate Fegley, Karl-Friedrich Israel, Shawn Ritenour, Timothy D. Terrell, Lucas M. Engelhardt
Home | Mises Library | Faculty Panel: Policy and History Faculty Panel: Policy and History Tags StrategyU.S. HistoryWorld HistoryAustrian Economics OverviewPolitical Theory Featuring Per Bylund, Lucas Engelhardt, Karl-Friedrich Israel, Tate Fegley, Shawn Ritenour, and Timothy Terrell. Recorded at the Mises Institute in Auburn, Alabama, on July 28, 2023. Note: The views expressed on Mises.org are not necessarily those of the Mises Institute.
Higher Education in Crisis | Timothy D. Terrell
Home | Mises Library | Higher Education in Crisis Higher Education in Crisis Tags EducationMonopoly and Competition Ineffective teaching, the enrollment cliff, stifled academic discourse, and government driving up tuition. Download the slides from this lecture at Mises.org/MU23_PPT_34. Recorded at the Mises Institute in Auburn, Alabama, on 28 July 2023. Note: The views expressed on Mises.org are not necessarily those of the Mises Institute.
Why Government Pollution Control Fails
See all the latest videos and articles patriots need to watch and read at Discern.tv. In over twenty-five years of teaching undergraduate students, I have heard the same refrain countless times: free markets have many problems that government has to step in to solve. Indeed, students expect the government to “step in” so much that markets occupy a peripheral role in their idealized economic system.
Mises Wire
FedNow Isn't a CBDC, but It Is Dangerous The FedMoney and BanksU.S. EconomyMoney and Banking While FedNow seems benign, there is the larger problem of the entire banking system itself being built on a foundation of sand. FedNow can only make that problem worse. Read More Can Fractional Reserve Banking Survive the Twenty-First Century?
Mises Wire
FedNow Isn't a CBDC, but It Is Dangerous The FedMoney and BanksU.S. EconomyMoney and Banking While FedNow seems benign, there is the larger problem of the entire banking system itself being built on a foundation of sand. FedNow can only make that problem worse. Read More Can Fractional Reserve Banking Survive the Twenty-First Century?
Mises Wire
Modern Socialism Is Forced Socialization Bureaucracy and RegulationPaternalismProgressivismSocialism Modern socialism is based upon state interference in normal human relationships, economic and otherwise. It is as disastrous as the older state-planning model.
Economics from the Ground Up: Intellectual Community in the Age of Artificial Intelligence | Timothy D. Terrell
Home | Mises Library | Economics from the Ground Up: Intellectual Community in the Age of Artificial Intelligence Economics from the Ground Up: Intellectual Community in the Age of Artificial Intelligence Tags EducationMedia and CulturePhilosophy The Ralph Raico Memorial Commencement Lecture. Recorded at the 2023 Austrian Economics Research Conference hosted at the Mises Institute in Auburn, Alabama, March 16–18, 2023.
How Churches Can Help Protect Urban Air Quality
Urban air pollution contributes to health risks, especially in low-income neighborhoods. In response, some churches in St. Louis are installing air quality sensors on their property. The churches, working with groups like AirWatch St. Louis and St. Louis’s Washington University, are sharing data in an effort to produce a better-informed advocacy and ultimately motivate legislative change. Why is air pollution often worse in poorer neighborhoods? There are various reasons.
Opposition to the “Inflation Reduction Act”
Last week, 231 economists signed a letter opposing the Inflation Reduction Act of 2022. On August 4, it was sent to Senate Majority Leader Schumer, Senate Minority Leader McConnell, Speaker Pelosi, and House Minority Leader McCarthy. Notable signatories include James Bennett, Edgar Browning, Gerald Dwyer, David Henderson, Anne Krueger, Larry Kudlow, Arthur Laffer, Michael Munger, Mario Rizzo, Joseph Salerno, Vernon Smith, and Richard Vedder. Fox Business ran a story on the letter August 4.
Review: Restoring the Promise: Higher Education in America | Timothy D. Terrell
Home | Mises Library | Review: Restoring the Promise: Higher Education in America Restoring the Promise: Higher Education in America Richard K. Vedder Oakland, Calif.: Independent Institute, 2019, 400 + xiv pp. Timothy Terrell (terrelltd@wofford.edu) is T.B. Stackhouse Professor of Economics at Wofford College and a Senior Fellow at the Mises Institute. Higher education in the United States is facing a reckoning, and none too soon.
Restoring the Promise: Higher Education in America | Timothy D. Terrell
Home | Mises Library | Restoring the Promise: Higher Education in America Restoring the Promise: Higher Education in America Richard K. Vedder Oakland, Calif.: Independent Institute, 2019, 400 + xiv pp. Timothy Terrell (terrelltd@wofford.edu) is T.B. Stackhouse Professor of Economics at Wofford College and a Senior Fellow at the Mises Institute. Higher education in the United States is facing a reckoning, and none too soon.
Machen on Bible Reading in Government Schools
Home > Education, State > Machen on Bible Reading in Government Schools Machen on Bible Reading in Government Schools “I think I am just about as strongly opposed to the reading of the Bible in state-controlled schools as any atheist could be. “For one thing, the reading of the Bible is very difficult to separate from propaganda about the Bible. I remember, for example, a book of selections from the Bible for school reading, which was placed in my hands some time ago.
From the Reformation to Austrian Economics | Timothy D. Terrell
[This article is adapted from a talk delivered at the Austrian Student Scholars Conference in February 2017.] The beginning of the Protestant Reformation is commonly dated to Martin Luther’s nailing of “95 Theses on the Power and Efficacy of Indulgences” on the door of All Saints’ Church in Wittenberg on Oct. 31, 1517, 500 years ago this year. The church door was a sort of community bulletin board, and Luther’s list was a way of opening a public debate.
Why Government Pollution Control Fails | Timothy D. Terrell
Home | Wire | Why Government Pollution Control Fails Why Government Pollution Control Fails Tags Economic PolicyThe Environment In over twenty-five years of teaching undergraduate students, I have heard the same refrain countless times: free markets have many problems that government has to step in to solve. Indeed, students expect government to “step in” so much that markets occupy a peripheral role in their idealized economic system.
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