What a thrill to speak to you on this happy occasion of the Mises Institute's thirtieth anniversary. I am delighted that Ron Paul and Andrew Napolitano have been able to join us for this wonderful celebration, along with our great Mises Institute faculty from universities all over the country, some of our excellent students and some of the generous supporters who have made it all possible. My sincerest thanks to all of you.

Three decades ago, when I was contemplating the creation of a Ludwig von Mises Institute, the Austrian School of economics, and its Misesian branch in particular, were very much in decline. The number of Misesian economists was so small that all of them knew each other personally and could probably have fit in Mises's small living room. This is a world that young people today, who find Austrian economics all over the place, can hardly imagine.

I wanted to do what I could to promote the Austrian School in general and the life and work of Mises in particular. Mises was a hero both as a scholar and as a man, and it was a shame that neither aspect of his life was being properly acknowledged.