If it was given to the von Mises family by Franz Joseph I, then one can not claim it was produced by the free market. It would be like saying that the “Presidential medal of freedom” is a free market phenomenon.
I just found the bag of lapel pins I ordered from the LvMI, with every lapel pin, there is a note, and the note reads:
"Mises Family Crest
The Ludwig von Mises
Institute’s coat of arms
is that of Mises’s family,
awarded in 1881 when
Ludwig von Mises’s great-
grandfather, Mayer Rachmiel
Mises, was enobled by
Emperor Franz Josef of
Austria-Hungary.
In the upper right-hand
quadrant is the staff of
Mercury, god of commerce
and communication (the
Mises family was successful
in both; they were bankers
and merchants).
In the lower left-hand
quadrant is a representation
of the Bible, open to the
Ten Commandments.
The decalogue represents the Jewish heritage of the family. Then of course there is the Rose of Sharon in there. This was the crest given to the family.