Vernon Smith Prize 2018 – Call for Papers!

Vernon Smith Prize 2018
Vernon Smith Prize 2018 – Call for Papers

The 11th International Vernon Smith Prize for the advancement of Austrian Economics is an essay competition sponsored and organized by ECAEF – European Center of Austrian Economics Foundation, Vaduz (Principality of Liechtenstein). We are calling for papers! This years’ topic:

Obscured by Fake News:
The Politics, Morals, and Limits
of Genetic Engineering

Biotechnological procedures, including genetic modification have been employed successfully in the course of millennia for the making of vital medicines or for selective breeding to generate much of our daily foodstuff. We have used these techniques also in refining plants, in the production of alcoholic beverages, cheeses or for manufacturing garments. And yet, Biotechnology in general and especially Genetic Engineering are subject to controversy, widespread misinformation, and remain shrouded in mystery, characterized by vague apprehensions and common superstitions. Whereas in conventional breeding methods only more or less the same species can be crossed with each other, Genetic Engineering deals with the isolation, characterization, and recombination of genetic material. Although, this new development has endured the extensive rigor of scientific method, together with academic peer-review concluding empirically in support of the new science, the application and commercialization of genetic engineering innovation in the food system from a business perspective are worthy of debate and have policy considerations. For many, Genetic Engineering is a seminal achievement that can be used for life saving drugs, improvements of the environment and GMOs could even help feed the world. Others consider it an untested and dangerous intrusion into nature that needs to be regulated or even outlawed by politics.
We invite papers on this topic addressing not only the socio-political relevance and the moral implications of Genetic Engineering. But also the implications of possible regulations and even limitations of scientific research on the whole.


First Prize: €4,000


Second Prize: €3,000


Third Prize: €2,000


All entries need to meet the following requirements:
1: Entries may be submitted by individuals of up to 30 years (in 2018).
2: Entries may not exceed 12 pgs.; 1.5 space; left/right margins no less then 1 inch; including a full bibliography and a 1/2 page summary
3: Entries must be submitted in English in electronic form (pdf) to krl@ecaef.li and must include a current CV with DoB.
4: Entries must be received on or before November 19, 2018.
5. It is mandatory that all prizewinners participate in the award ceremony in Vaduz.

Prizes are not transferable and will be awarded on the basis of originality, grasp of subject, and the logical consistence of the argument. An international jury will judge the essays and the winners will be invited to present their papers at a special event in Vaduz, the Principality of Liechtenstein on February 4, 2019.

Steve Hanke Lecture on “Money, Banking and Markets”

Steve Hanke Lecture on Money, Banking and Markets | Almost exactly 10 years ago, amid the rapidly worsening ‘subprime mortgage crisis’, Lehman Brothers Holdings Inc., was forced to file for bankruptcy. Shortly thereafter, actually within hours AIG collapsed, triggered a run on most money-market funds, which accelerated a cash crunch and ultimately not only wrecked the economy by abolishing millions of jobs. It also caused catastrophic material, social and moral damage. Ever since, countless biased statements and false explanations dominate the political debates.

Prof. Steve H. Hanke will be talking at Liechtenstein University in Vaduz (Sep. 27) and at the LGT Global Investment Seminar in Zurich (Sep. 28). The ‘first Steve Hanke Lecture on Money, Banking and Markets’ thus was timely titled: “A Postmortem on the Policy Blunders that Caused and Extended the Great Recession”.

Steve H. Hanke (Johns Hopkins University and recently appointed as ‘G. v. Haberler Professor, ECAEF’) ranks among the world’s leading and most influential monetary economists. Backed by persuasive arguments, plain facts and a host of charts he not only proved that in sharp contrast to the official narrative, the US monetary policy since 2002 acted pro-cyclical. These policies triggered the notorious bubbles, let them pop up and lead to the “Great Recession” of 2008/2009.

Among other examples, Hanke also exposed H. Paulson’s role and clearly showed that in spite of his given authority to rescue Lehman Brothers and contrary to the distorted public account, Ben Bernanke (then chair of the FED) in a politically motivated panic reaction failed to act appropriately, and thus unleashed the most terrifying moment for the US economy since the Great Depression of the 1930s.

According to Prof. Hanke, we should be more careful of what we read, take for granted and use for investment planning, as 95% of all published financial and monetary reports on policy matters are either ‘false or irrelevant’. After all, there is nothing more practical than a good theory!

Initiated as a co-operation of the ‘European Center of Austrian Economics Foundation, ECAEF’ and the ‘Liechtenstein Academy, LAF’, the ‘Steve Hanke Lecture on Money, Banking and Markets’ is intended as an annual public lecture series at the Liechtenstein Academy (Schloss Freudenfels Campus) and at the University in Vaduz.


*Steve H. Hanke is an American applied economist at the Johns Hopkins University in Baltimore, Maryland. He is also a Senior Fellow and Director of the Troubled Currencies Project at the libertarian Cato Institute in Washington, DC, and Co-Director of the Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise in Baltimore.

Carl Menger, Zeitungsbeiträge von 1918 und 1921

Zeitungsbeiträge aus Wien. Rechts: Interview mit Carl Menger (1981). Links: Nachruf von Josef Schumpeter zum Tod Carl Mengers im Februar 1921.
Zeitungsbeiträge aus Wien. Rechts: Interview mit Carl Menger (1981). Links: Nachruf von Josef Schumpeter zum Tod Carl Mengers im Februar 1921.

Die folgenden zwei Beiträge wurden durch Federico Salazar (Mises-Institut, Peru) im Digitalservice der Österreichischen Nationalbibliothek gefunden.

“Österreich-Ungarische Bank und Valutafragen” |  Gespräch mit Carl Menger, erschienen im Neues 8 Uhr-Blatt, 29. Januar 1918.

Download PDF hier ->
Carl Menger: Österreich-Ungarische Bank und Valutafragen


Prof. Dr. Josef Schumpeter über Carl Menger | Nachruf von Josef Schumpeter, erschienen in Neue Freie Presse, Wien, 28. Februar 1921. Karl Menger verstarb zwei Tage vorher im Alter von 81 Jahren.

Download PDF hier ->
Carl Menger – Nachruf von Josef Schumpeter

Steve Hanke ECAEF Gottfried von Haberler Professor

Gary Stanley BeckerThe Board of the ‘European Center of Austrian Economics Foundation’ is pleased to announce the appointment of Prof. Dr. Steve H. Hanke* as the “ECAEF Gottfried von Haberler Professor”. Steve Hanke indicated that he is honored by the fact that the professorship is named after the late Gottfried von Haberler, one of his mentors and a leading scholar in the academic tradition of the Austrian School of Economics. Hanke believes that the European Center of Austrian Economics (ECAEF) and the Liechtenstein Academy Foundation (LAF) are among the most suitable institutions to disseminate the ideas of the Austrian School to both specialists and the general public.


*Steve H. Hanke  (/ˈhæŋki/) is an American applied economist at the Johns Hopkins University in Baltimore, Maryland. He is also a Senior Fellow and Director of the Troubled Currencies Project at the libertarian Cato Institute in Washington, DC, and Co-Director of the Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise in Baltimore.

XV. International Gottfried von Haberler Conference

gottfried-von-haberler-conference-2019

Conference Topic 2019:

When Naive Presumptions
prompt Hasty Judgments:
On the Benefits and Problems
of Genetic Engineering

(Wenn Vermutungen zum Urteil werden:
Die Gentechnologie am Pranger)

“Denying the science and technology of which genetic engineering is the current striking manifestation is simply an ostrich reaction and cannot solve our problems”.  Bernard E. Rollin

The 15th Gottfried von Haberler Conference will take place on May 17, 2019 at University of Liechtenstein in Vaduz. Conference topic: When Naive Presumptions prompt Hasty Judgments: On the Benefits and Problems of Genetic Engineering. The event will be organized and hosted by ECAEF – European Center of Austrian Economics Foundation. The support of the University of Liechtenstein and multiple local and international sponsors is gratefully acknowledged.

By invitation only

Admission: General CHF 100/Euro 100; Students CHF 50/Euro 50
Academic Director: Kurt R. Leube
Tel. +1 650 248 4955 (krleube at stanford.edu)
and Tel. +43 676 942 8980 (krleube at gmail.com)
Administration: Rosmarie Lutziger
Tel. +423 235 1570 (Rosmarie.Lutziger at lgt.com)
Media Matters: Karin Brigl
Tel. +423 235 2344 (karin.brigl at lgt.com)

Conference Program on May 17, 2019

9:00-9:30  Registration/Fee
9:30-9:45  Welcome and Opening

Session I:
Biotechnology: Origins, Advances and Current State

(9:30-12:00)
9:45-10:00  Chair tba
10:00-10:30  “Vom Düngen und Gären zum Veredeln und Impfen: Was macht die moderne Biotechnologie?”
10:30-10:45  Discussion
10:45-11:15  Coffee break
11:15-11:45  “Three Tales of Woe: How Regulation Has Damaged Entire Sectors of Biotechnology”
11:45-12:00  Discussion
12:00-13:30  Buffet Luncheon for all participants at conference site

Session II:
Organic, Bio, Natural? On Ignorance and Semantic Traps
(13:30-15:15)
13:30-13:45  Chair tba
13:45-14:15  “Über konventionelle Landwirtschaft und grüne Gentechnologie”
14:15-14:30  Discussion
14:30-15:00  “Evidence matters! Towards a Rational Dialogue on Plastics, GMOs or Pesticides!”
15:00-15:15  Discussion
15:15- 15:45  Coffee break

Session III:
Shackles on Men’s Mind? On the Ethical, Legal and Social Issues

(15:45-18:10)
15:45-16:00  Chair tba
16:00-16:30  “Can GMOs help Feed the World?”
16:30-16:45  Discussion
16:45-17:15 “Klimawandel und Gentechnologie”
17:15-18:00  Discussion (topical and general)

18:00-18:10  Farewell address
18:20-18:30  Transportation by bus to the cocktail reception
18:30-19:45  Cocktail Reception at Vaduz Castle


Relevant literature will be offered for sale by buchausgabe.de