Association With Ludwig Von Mises
Fertig, who was a member of the NYU board of trustees, was instrumental in supporting his friend Ludwig von Mises when the economist fled Europe to the United States during the rise of the Third Reich, even going so far as to pay part of Mises' salary himself when Mises began teaching at Fertig's alma mater. Referring to Mises' visiting professorship at NYU, economist Murray Rothbard stated that
- NYU’s support for Mises was grudging, and only came about because advertising executive and NYU alumnus Lawrence Fertig, an economic journalist and close friend of Mises and Hazlitt, exerted considerable influence at the university.
The Mises Institute, founded in 1982 in honor of Ludwig von Mises, credits Fertig as being instrumental in its creation and development. The institute offers a Lawrence Fertig memorial prize to the author whose work "best advances economic science in the Austrian tradition."
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