 One of the things I really enjoy about Mises University is that I think it is a great job of highlighting how the complexities that go in the process of creating so many of the things that we enjoy as consumers, right? And the purposes of talks by Dr. Sean Rittenauer and Jonathan Newman, you know, all kind of highlighted how there is this incredible complexity to the world that is able to produce goods on that we take for granted on a day-to-day basis. I think the same thing is true when it comes to the production of ideas that end up shaping the world. One of the things I love most about Mises' works is when he talks about the importance in the role that ideas have in shaping civilization, you know, that these are tangible things that have direct consequences on the world we live in. Well, just as there is the complexity of a structure of production that brings about consumer goods, the same is true in the ability of producing consumable ideas. With talks by Dr. Klein and Dr. Byland, we talked about the importance of entrepreneurship in the way that firms, you know, firms are not simply black boxes that we can yada-yada over in order to understand how innovation and new products are put on the market. Firms are that driving dynamic that produce those goods. You know, we can't take their existence for granted. And I think we've seen this clearly play out within the history of the Austrian school. You know, it is truly incredible to just imagine what Louis von Mises found for himself when he came here from Europe after fleeing the Nazis. And if anyone who has not read the, I think the most powerful book in the Mises bookstore is Gito Holzmann's Last Night of Liberalism. It's one of the great benefits that we have as Austrians is not simply having the right ideas, but we have such incredible heroic figures whose examples should inspire us to be the best that we can be. So Mises came to America with very little institutional support, right? The only reason he was able to have a teaching position at New York University was due to the benevolence of private donors who are interested in promoting his works. He was lucky to have a major ally in the media and Henry Haslett who helped get Mises connected within the New York scene. And he used his platform to help popularize Mises' ideas. He also benefited from Leonard Reed and the establishment of FEE that was dedicated towards not simply trying to influence the intellectuals. After all, at this time in America, American universities were incredibly hostile to the laissez-faire ideas of Mises. But by persuading the public, particularly aided by the massive network of entrepreneurs and businessmen trying to push back against FDR's new deal, Mises was able to reach an entire new audience that he would otherwise not have had access to. And during for a period, there was a time of great success. You had the founding of the libertarian press that published popular versions of Mises' speeches and articles for the lay audience. You had through NYU the coronals of building a new group of Austrian scholars from this kind of uniquely American libertarian tradition such as obviously Murray Rothbard and Israel Kursner. You had the success of human action, which was the book that you've turned Rothbard into a Misesian and was actually able to have a remarkably successful commercial audience. Unfortunately, however, these great kernels that were being planted in the late 40s, early 1950s, something happened along the way that by the time that Lou Rockwell founded the Mises Institute in 1982, I mean, so that you could probably fit all the Misesian economists in Murray Rothbard's living room. Now, a part of that had to do with competition within the libertarian academic sphere, right? You had Milton Friedman and the influence of the Chicago School became very a dominant economic force. So much so that when Murray Rothbard was at Cato, one of the big splits there was caused because of Cato's support now for Chicago School Economics, which is simply not a replacement for Mises. You had it with William H. Buckley taking up a lot of the area and the financial support within the American right with the rise of neo-conservatism and the increasingly hostile foreign policy brought about by the Cold War changes. You had a lot of dysfunction within the libertarian movement in general with some of the personality splats between Ayn Rand. So what you had was that basis of institutional support that Mises was able to enjoy in the 1950s became chaotic and dried out. In fact, it's very, you read the memoirs from Louis von Mises and he talks about how in the late 70s, he saw himself as not a great historian of, his goal with his ideas was to bring about a more peaceful and prosperous society, but instead he rather just became a historian of decline. Well, Louis von Mises died in 1973 and then incredibly the next year, we saw the birth of a new Austrian revival. Joe Salerno, who is just an incredible economic historian, has written a wonderful article on the South Welton Conference and trying to trace back what was actually the stepping stone that allowed for a conference of Austrian academics to gather in the first place there in 1974. He traces that back to another source of institutional support that the Austrian school is able to enjoy through the Volcker Fund, through the publishing of Man Economy and State by Murray Rothbard. So again, you had institutional support that produced products that was able to inspire academics to further expand on the work and start building out the school of thought. But it really wasn't until the founding of the Mises Institute in 1982 that the Austrian school became the thriving tradition that it truly is today. And that's why there is no, in my opinion, there's no more important living human being to the creating a civilized and peaceful society than Louis Rockwell. So we consider the fact that at this time, during the 70s you had a great consolidation of libertarian capital through individual decision makers that had their own biases and agendas. Louis Rockwell's ability to raise capital for the dedication of reviving a minor school of intellectual thought is really astounding. And he was able to get people to contribute to do this and did so again without the support of a major billionaire donor or without any firmly established institutional investments such as having a major university. Now the institute was eventually able to have some success with Auburn University for a brief period of time which allowed for a whole generation of faculty members, many of which were teaching this week that got their degrees from Auburn University. But I think one of the really great things about the institute's entire approach, the one that brought me here, it's the fact that we understand the importance of popularizing these ideas. Rothbard has wrote a great deal about his ideas of libertarian strategy and about how the importance is not simply trying to fixate on capturing institutions that have various incentive problems and built up kind of plaque that make them inherently hostile to free market ideas, but instead trying to talk to people directly. This is what the institute has done, done it through the production of popular article versions of Mises Rothbard in the Austrian School with the free market which was our newsletter for a very long time. So that gave way to Mises.org which is now, which is still today, one of the most red economic blogs in the world today. It started to allow us to have student programs where we have hundreds of students that are genuine Mises Institute alumni around the world. One of the great assets of not simply being narrowly focused on the development of scholars, though obviously we benefit tremendously from that action, right? We need new scholastic blood to keep developing and building the Austrian tradition. But by not simply focusing on that or trying to focus on trying to win over levels of power in DC, we've created this incredible division of labor of ideological battle. And there's some really cool things that we take for granted in the day-to-day basis that owe a lot of their inspiration from this popularization of Austrian ideas from the Mises Institute. For example, Wikipedia was literally founded after Jimmy Wells as a student of Auburn University visited the Mises Institute at the recommendation of Mark Thornton, read Hayek's Decentralization of Knowledge article. And from that, spawned the idea of an encyclopedia that could be edited by anyone out there. Doing so created, he had numerous attempts to try to create a definitive online Wikipedia wasn't until he got this key insight at the Mises Institute that he allowed the Mises Institute, that he allowed for Wikipedia to be what it is today. Unfortunately, there've been kind of backsliding against some of that control, right? But Wikipedia at its best was very Hayekian. We've seen it through the spread of Austrian ideas internationally. In 2012, or 2011, LAO Belt Trial of Mises Brazil came here and talked about the Austro-Libertarian movement as a starfish and not a spider. The idea being that what we have is that, again, instead of the centralized structure of funding and everything else where you kill the head, the entire movement dies, which is what we've seen in libertarian movements in the past. And said what we have is a series of cells of different individuals inspired by the Mises Institute strategy, taking it back into their country and building up their own networks. We've seen it with Mises Brazil, which has done the incredible feat where Louis von Mises has searched more in that country than John Maynard Keynes. And in some months, Murray Rothbard has searched more than Milton Friedman. That's an incredible accomplishment. We see it with scholars around the world that dedicate themselves to translating human action, man economy and state, the works of Hans Hermann Hoppe, Joe Salerno. That brings Tom Woods overseas to receive Lifetime Achievement Awards. This is all great. We've got a massive international marketplace because of this popularization strategy that has been so key to the Institute. And because of that, even though we do not have a physical location in the halls of power, by reaching out to the public, we've actually had an incredible amount of influence even on the political system. Ron Paul is most an influential libertarian politician in American history, is a part of the Mises Institute brand. We have state legislators around the country that have fought for state legal tender laws trying to push back against federal reserve dominance on the money supply, inspired by Mises Institute ideas. We've actually been able to stop certain positions within the federal government thanks to having staffers within Washington that read Mises, recognize the problems and are able to play their own internal games to leverage our knowledge. So even though we ourselves do not have a direct physical presence, the fact that we are able to reach out beyond simply the Ivy Towers of academia and inspire normal individuals to figure out ways of applying these ideas gives us so much more strength than we ever could if we tried to essentially plan it. And again, that is one of the things that has inspired me. Again, I think that the contributions that Lou Rockwell has made to the Austrian School, if you really think about it, it's Louis von Mises, Murray Rothbard and Lou Rockwell because without the ability to create an institution that provides support for these ideas and these scholars and the human interaction between the ideas and theory and the time and place in which we live, that has only made possible because of the actual entrepreneurship of these sort of institutions. And Lou Rockwell is the best of, I think within the libertarian tradition. So again, I apologize for starting off late and kind of wrapping up or trying to get it right on time, but thank you very much.