Abolishing cash is a danger for society’s freedoms | Kenneth Rogoff is one of today’s most influential and brilliant economists. He is a professor at Harvard University and was, for some years previously, Chief Economist of the International Monetary Fund (IMF). His opinions are hugely influential and, in his opinion, negative interest rates are necessary to stimulate the economy further in today’s crisis, writes Prince Michael of Liechtenstein. Various GIS reports have mentioned that monetary measures can support the economy but cannot be the sole driver. The success of these measures is more than doubtful. Read more -> Geopolitical Information Service


XI. Gottfried von Haberler Conference

The XI. Gottfried von Haberler-Conference, organized by ECAEF (The European Center of Austrian Economics), Vaduz, Principality of Liechtenstein, will take place on Friday, May 29, 2015. Topic: “Seid umschlungen Millionen? Der Würgegriff grosser Staaten” (English: “Small is beautiful: Downsize the States, Empower the People!”) Program will be announced here at in due course.


At Last, a Better Way to Economic Measure

This is the press release and additional information about Gross Output, the new macro statistic now being published quarterly by the US Bureau of Economic Analysis. It is the first macro statistic issued by the US since GDP was invented in the 1940s and is the biggest triumph in supply-side economics since Hayek won the Nobel Prize 40 years ago.  Read more: Press Release


Europe’s economic predicament

Europe was shocked this week when forecasts were reduced for what was already only tentative economic growth in the eurozone. The news should actually be good. There is, in theory, a plentiful supply of money at close to no cost to enhance consumption, construction and investment in business …  Read more: GIS


7th Vernon Smith Prize 2014

LAST Call for Papers! The 7th International Vernon Smith Prize is calling for essays on the topic: “Trusting Politicians with Our Money is like Leaving a Cat in Charge of a Cream Jug”. First Prize EUR 4,000. Second Prize EUR 3,000. Third Prize EUR 2,000. Deadline: November 23, 2014. Continue reading: VSP 7


The Revival of Nationalism

Pedro Schwartz: This is the year when we commemorate the start of the I. World War, a ghastly conflict in great parts attributable to the fanning of nationalistic feelings by politicians and soldiers playing power games. The human cost of that war should have forever put an end to the cultivation of tribal feelings in Europe. It was not to be … Read more:


Europe follows Japan as Abenomics misses target

When Prime Minister Shinzo Abe returned to office in December 2012, the core of his programme consisted of relaunching Japan’s economy which has been stagnating for more than 20 years in a deflationary trap, writes Prince Michael of Liechtenstein. His programme consisted of a number of ‘arrows’ – measures to fix the economy – which were called ‘Abenomics’ …  Read more: GIS

jean tirole gewinnt nobel preis 2014

Jean Tirole gewinnt Nobel-Preis

 Jean Tirole gewinnt den Nobel-Preis 2014. Damit ist er nach G. Debreu (1983) und M. Allais (1988) der dritte Franzose, dem dieser Preis verliehen wurde. Jean Tirole ist Professor an der Universität Toulouse. Weiterlesen: NEWS


Was an Pikettys Thesen dran ist

Von Hanno Lorenz. Nun liegt es auch auf Deutsch vor: “Das Kapital im 21. Jahrhundert” von Thomas Piketty, jenes Buch, das in den USA und von dort nach Europa ausstrahlend für ein ökonomisches Werk ungewöhnlich viel Medienaufmerksamkeit bekam … Weiterlesen: Agenda Austria


7th Vernon Smith Prize 2014

Call for Papers! The 7th International Vernon Smith Prize is calling for essays on the topic: “Trusting Politicians with Our Money is like Leaving a Cat in Charge of a Cream Jug”. First Prize EUR 4,000. Second Prize EUR 3,000. Third Prize EUR 2,000. Continue reading: VSP 7


10. Haberler-Konferenz: Video

The conference took place on June 27, 2014 in Vaduz, Liechtenstein. It was organized and hosted by ECAEF. The support of the University of Liechtenstein and multiple local and international sponsors was gratefully acknowledged. Simultaneous German/English translation have been provided. Watch video here: KONFERENZ


ECAEF Quiz für mündige Bürger!

Diskussionen um Marktwirtschaft, Unternehmertum, Steuern, Umverteilung oder Staatsaufgaben werden meist mit leeren – politisch aber zündenden – Phrasen geführt. Wir wollen mit diesem humorvollen Quiz Ihr wirtschafts- und gesellschaftspolitisches Wissen über geläufige Begriffe testen. Klicken Sie hier: Quiz für mündige Bürger


Europe and Australia’s backward step

Australia’s Parliament has just passed new draconian legislation which carries threats of the former communist police states, writes Prince Michael of Liechtenstein. The legislation, passed by a huge majority on October 1, 2014, provides that anybody, including journalists or whistleblowers, who discloses information relating to a ‘Special Intelligence Operation’ faces up to 10 years in jail …  Read more: GIS


Environmental Markets

In a new book – “Environmental Markets: A Property Rights Approach” – Terry L. Anderson and Gary D. Libecap explain the prospects of using markets to improve environmental quality and resource conservation. No other book focuses on a property rights approach using environmental markets to solve environmental problems. Continue reading: Environmental Markets

vernon smith prize 2013

Vernon Smith Prize Winners 2013

The Winners of the 6th Vernon Smith Prize are: First Prize (EUR 4,000) Alexander W. Salter (United States, George Mason University). Second Prize (EUR 3,000) Julian F. Mueller (Germany, Technische Universitaet Muenchen). Third Prize (EUR 2,000) Arkadiusz Sieron, (Poland, University of Wroclaw). The ceremony took place on Monday, February 3, 2014 in Vaduz, Liechtenstein Continue reading: VSP 6

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