The opening of the 2026 issue of the Mises Journal (vol. 14) is full of great news and novelties, bringing even more favorable winds to scientific research in the Austrian School of Economics.
The first highlight is the new rating our academic journal achieved in the latest Qualis CAPES assessment, a Brazilian system used to classify the scientific output of stricto sensu graduate programs with respect to articles published in scientific journals. It is maintained by CAPES (Coordination for the Improvement of Higher Education Personnel), an agency linked to the Ministry of Education (MEC).
The assessments are quadrennial and, the first time our journal was evaluated (2013-2016), we received a rating in stratum C2, assigned to journals with zero weight in the assessment or that do not meet the minimum criteria. After 2018, several changes made to modernize the journal and to have an impact on the academic community took effect: in the 2017-2020 quadrennium, the rating assigned was B3.
What were these changes? Internationalization, presence in important indexers such as Redalyc, Latindex and Google Scholar — raising the "Impact Factor" calculated by CAPES —, editorial rigor (maintaining the double-blind review system, or double-blind peer review) and the punctuality of the issues.
The ratings for the last quadrennium (2021-2024), released in January 2026, placed the MISES Journal in stratum B2, showing a trajectory of growth and consolidation in the CAPES criteria since its founding in 2013. This great recognition of the academic work of the Mises Institute Brazil is only the first major celebration we have in this year of 2026.
The other major celebration we will hold throughout this year is the 10th anniversary of the Graduate Program in Austrian Economics (PGEA), a lato sensu program of our institution that has opened new classes without interruption throughout this first decade of existence.
The relationship between the Graduate Program in Austrian Economics and the MISES Journal is closely intertwined: more than a source of scientific content for our students, the journal also contributes to the academic maturation of students who seek to pursue a teaching or research career. Whether writing reviews, essays, articles or even publishing their Final Course Papers, there is a synergy between these two great "areas" of the Mises Institute.
As a way of honoring this achievement, the cover of this issue was produced with a stylized version of the PGEA Academic Emblem, which will accompany us throughout this entire volume. But do you know the meaning of each element of the emblem?
Helio Beltrão, founder and currently Chairman (President of the Board) of the Mises Institute, has explained to me, on a few occasions, the meaning of each component; I will try to reproduce here what I remember, but nothing will prevent me from using poetic license to tell my version of the meanings.
The Academic Emblem (which many call a logo) of the Graduate Program in Austrian Economics is composed of elements of classical heraldry3 and academic symbols that represent the pillars of this school of economic thought. The small red and white flower at the top is an Edelweiss. It is the national flower of Austria and a symbol of resilience and purity. It reinforces the geographic and historical identity of the school, founded by Carl Menger in Vienna. Another important message is that this flower manages to grow at high altitudes, in harsh conditions. The message here is direct: Mises was exiled, academically marginalized, refused compromises with Keynesianism and statism, and remained consistent to the end. Today, the Austrian School survives and flourishes outside the economic mainstream, on hostile ground, without intellectual subsidies from the state or the dominant academy.
The staff with two intertwined serpents and wings at the top (Caduceus), in the center, is the symbol of Mercury (or Hermes), the god of commerce, eloquence and exchange4. It represents market economic activity, the free exchange of goods and services, and social cooperation through trade, which are central themes of the Austrian School.
Below the Caduceus, there is an open book. On the left page are the odd numbers (I, III, V, VII, IX) and, on the right, the even ones (II, IV, VI, VIII, X). The use of Roman numerals in an open book is a classic visual convention to represent "universal laws" or "immutable principles", a reference to the Biblical Decalogue, the ten commandments written on two stone tablets. Many economists of the Austrian tradition, such as Mises (2010; 2014) and Rothbard (1960;1974), as well as forerunners (such as Frédéric Bastiat), ground their theories in the idea of Natural Law. A systematization of ‘ten fundamental laws of economics’ in light of Austrian theory can be found in Iorio (2013) and in Mueller (2016).
Just as the Ten Commandments are seen as universal and absolute moral laws, the Austrians argue that the economy has laws that do not depend on the will of rulers. By using the aesthetics of the tablets or of a decalogue, the Academic Emblem visually communicates that the economy is not something "invented" by politicians, but something "discovered" in human nature, with the same authority as fundamental laws5.
In the background, one notices a stylized terrestrial globe. In classical heraldry, a globe with bands (such as the Armillary Sphere) represents the universe, totality, and navigation or discovery. We can take this to indicate that the laws of economics are universal laws. Just like gravity or celestial orbits, the Austrian School holds that the logic of human action works anywhere on the globe, regardless of geographic borders. I believe there is a subtle philosophical provocation here. The flag of the Empire of Brazil bore an Armillary Sphere, and the flag of the Republic of Brazil stylizes this globe with a band bearing the motto "Order and Progress", reinforcing state action. When we see the Caduceus (symbol of commerce and voluntary exchange) in front of the globe with the band, it suggests that the true "Order" of a nation arises from the bottom up, through market exchanges and respect for property, and not by government decree: There is no crown, there is no state, there is no sword. It is Friedrich Hayek’s concept of Spontaneous Order (1937; 1945; 1960; 1967).
The leaves surrounding the coat of arms are in fact soybean pods. In the coat of arms of the Empire of Brazil we find coffee and tobacco leaves, representing the origin of productive wealth. Today, the productive force that brings true wealth to Brazil lies in Agribusiness. There are many products in which we are world leaders, but soybeans play an important role.
Finally, we observe two symmetrical stars. I believe they are a tribute to the giants of the Austrian School, who are also present in the coat of arms of the Ludwig von Mises Institute Brazil: Mises and Rothbard. In heraldry, the star is the symbol of light, truth and wisdom. Mises and Rothbard are there to indicate that economic knowledge serves as a "guide" amid the darkness of uncertainty and interventionism. They represent the intellectual clarity that the student must attain.
I conclude this editorial in the belief that this issue, as well as the previous ones, may illuminate the journey not only of our new students, who are starting this historic 10-year PGEA class, but of all students and researchers of the Austrian School of Economics. For those who wish to contribute their theoretical findings and applied research, I strongly recommend reading the editorial of the previous issue (Paranaiba & D’Andrea, 2025) for a successful submission.