ECAEF News

Semantic Traps

Economic riders
of the apocalypse

GIS* statement by Prince Michael of Liechtenstein

The G20 finance ministers and central bank governors have already met twice this year to discuss the world economic situation. After the February meeting in Shanghai, they released a cautiously optimistic communique congratulating themselves for “important achievements” in bolstering growth and stability. This was revised to an even more optimistic assessment of global recovery at the April 14-15 meeting in Washington … Continue reading -> GIS statement

Semantic Traps

Semantic Traps:
Politics with Loaded Terms

PERC, Liechenstein Academy, and ECAEF have teamed up to organize a seminar on “Semantic Traps: Politics with Loaded Terms”. Details including the agenda are listed below. If you are interested in finding out more about the seminar, contact co-directors, Terry Anderson or Kurt Leube. Seminar Date: June 9-11, 2016. Location: Freudenfels Castle at Lake Constance, Eschenz, Switzerland …

Continue reading -> Semantic Traps

A Theory of Conspiracy

by Raffaele De Mucci

The attacks in Charlie Hebdo (2015), the shutdown of MH17 in Ukraine (2014), the death of Hugo Chavez in Venezuela (2013) – all results of collective hidden conspiracies? The reconstruction of an event through the use of a conspiracy hypothesis can give life to the logical process of counterfactual judgment. Raffaele De Mucci published a Theory of Conspiracy … Continue reading -> Theory of Conspiracy

The Panama Papers: Mystery, Hypocrisy …

by Prince Michael of Liechtenstein

Privacy is a valuable thing. An anonymous source has provided millions of documents revealing the private financial dealings of Panama-based law firm Mossack Fonseca’s clients to an international consortium of investigative journalists. Those clients no longer enjoy privacy. The names of famous people mentioned in the documents were splashed across headlines around the world.
Continue reading -> GIS Statements

Schadens-
ersatzpflicht
für Politiker

von Carlos A. Gebauer

Plädoyer für eine Schadensersatzpflicht demokratischer Politiker. Warum Abgeordnete gegenüber ihren Wählern juristisch haften und persönlich ersatzpflichtig gemacht werden sollten, wenn sie vorsätzlich oder fahrlässig Schäden verursachen … Weiterlesen -> Hauptstadtbrief

Liberales Institut Zürich

Bedingungsloses Grundeinkommen

von Pierre Bessard

Die Forderung, auf Kosten anderer zu leben, entspricht bestenfalls der Laune eines Kindes, das die Ethik der Reziprozität noch nicht verinnerlicht hat. Zu den zurecht verwirrendsten Reformideen, die gegenwärtig zirkulieren, zählt die eines “bedingungslosen Grundeinkommens”. Es geht dabei um nichts Geringeres als die monatliche Zahlung eines ausreichenden Geldbetrags “zur Deckung der Grundbedürfnisse” an jedermann … Weiterlesen -> LI-Papers

vernon smith prize 2016

Vernon Smith Prize: Call for Papers!

Our 9th International Vernon Smith Prize for the advancement of Austrian Economics is in full gear and calling for papers now:

|- 1st Prize EUR 4,000 -|
|- 2nd Prize EUR 3,000 -|
|- 3rd Prize EUR 2,000 -|

Direct Democracy versus Representative Democracy. Cost and Benefits for the Citizenry! ECAEF invites papers on this topic which meet the following requirements … Continue Reading -> VSP 9

The first crime is the hardest

The first crime is the hardest

by Prince Michael of Liechtenstein

World-famous British crime novelist Agatha Christie was an outstanding observer of human nature. In Murder in Mesopotamia, her sleuth hero, Hercule Poirot, makes this astute observation: “There are things that my profession has taught me. And one of these things, the most terrible thing, is this: murder is a habit.” The implication is that after one commits a crime for the first time, doing it again becomes easier. Looking at the present behavior of governments and institutions in Europe, one is reminded of the wisdom of this insight … Continue Reading -> GIS Statement

Who is afraid of Donald Trump?

GIS statement by Prince Michael of Liechtenstein

Europe and the world are watching Donald Trump’s behavior in the United States presidential campaign with amazement. He has shocked his country’s media elites, who are more accustomed than their European counterparts to harsh talk and mudslinging between candidates. His aggressive rhetoric and erratic tactics are a novelty for even seasoned followers of U.S. politics … Continue Reading -> GIS Statement

Gegen Terror: EZB will grosse Banknoten abschaffen

Liewo-Interview mit Prinz Michael von und zu Liechtenstein

Im Kampf gegen den Terror will die EZB grössere Banknoten abschaffen, zum anderen eine Bargeld-Obergrenze einführen. Dem ganzen steht der Präsident des Think Tanks ECAEF, Prinz Michael von und zu Liechtenstein, kritisch gebenüber. Er wagt im Gespräch mit der Liewo* eine Einschätzung der Gefahrenlage. Lesen sie den gesamten Beitrag hier -> Liewo-Interview

The Political Value of Gold

GIS statement by Gisela von Liechtenstein.

People and economies have always needed means of exchange that represent value and set prices, even in a barter economy. These means of exchange had to have a trusted value and as economies evolved, precious metals, silver and gold served this purpose … Continue reading -> GIS Statement

8th International Vernon Smith Prize: Essays

Vaduz (FL), February 29, 2016. Essays of the winners of the 8th International Vernon Smith Prize 2015 have now been posted, since all three authors have defended their papers at a special festive event on February 15, 2016 in Vaduz, the Principality of Liechtenstein … Continue reading -> VSP 2015

Liechtenstein Academy

Understanding how Society Works

An Introduction to the Austrian School of Economics (Course)

“Understanding how society works” features a comprehensive innovative curriculum in Austrian Economics, LIECHTENSTEIN ACADEMY tries to get entrepreneurs, individuals and key opinion leaders in politics, the media, and academia interested.

Continue Reading -> Liechtenstein Academy

Liechtenstein Academy

Economies need structural reform, not helicopter money

by Prince Michael of Liechtenstein

Zhou Xiaochuan, governor of the People’s Bank of China, admitted at a press conference during the G20 summit in Shanghai that monetary measures have a limited scope for stimulating the economy. Structural reforms, though they hurt, are necessary. GIS experts have repeated this many times over the past few years, but at least the PBoC is willing to admit it officially … Continue Reading -> GIS Statement

Jacques Rueff Conference

Jacques Rueff Conference in Monaco

The Collapse of the Welfare State – Will the End of a Daydream Turn into a Nightmare? The I. International Jacques Rueff Conference in Monaco will be an academic one-day Conference, organized and hosted by CEPROM (Center of Economic Research for Monaco, MC) in co-operation with ECAEF (European Center of Austrian Economics Foundation, FL) … Continue reading -> Rueff Conference

GIS Statement

Reducing the role of cash will destroy the public’s trust in money

Money facilitates trade and serves as remuneration for work. It also stores value. Money that is earned but not spent becomes savings, which can provide capital for investment. The effort expended in providing labor, services, or entrepreneurial activities, as well as the need for goods and investment, form the basis for the value we place in money, writes Prince Michael of Liechtenstein … Continue Reading -> GIS Statement

Monetary Voodoo

by Prince Michael of Liechtenstein

The governors of the European Central bank met on December 2 and decided to make a further small reduction in already negative lending rates, while extending their bond purchasing program by another six months to March 2017. In its unsuccessful way, the ECB is trying to resolve a trilemma … Continue reading -> GIS Statements

Terrorism and the money-trail mirage

by Prince Michael of Liechtenstein

French investigators suspect that the perpetrators of the November 2015 terrorist attacks in Paris used prepaid debit cards to cover their expenses. New measures will be proposed by the European Commission next month to make it harder to finance such operations … Continue Reading -> GIS Statements

Semantic Traps

Semantic Traps:
Politics with Loaded Terms

PERC, Liechenstein Academy, and ECAEF have teamed up to organize a seminar on “Semantic Traps: Politics with Loaded Terms”. Details including the agenda are listed below. If you are interested in finding out more about the seminar, contact co-directors, Terry Anderson or Kurt Leube. Seminar Date: June 9-11, 2016. Location: Freudenfels Castle at Lake Constance, Eschenz, Switzerland … Continue reading -> Semantic Traps

VSP 2015

Vernon Smith Prize Winners

Vaduz (FL), Jan 24, 2016. The international jury of the VSP finally came to a conclusion and is delighted to announce the winners: The 1. Prize goes to Daniel W. Issing (Germany), the 2. Prize to Demelza Hays (USA), and the 3. Prize to Mats Ekmann (Finnland). Heartfelt congratulations! Their profiles and essays will be posted after the winners have defended their papers at a special festive event on February 15, 2016 in Vaduz … Continue Reading -> VSP 2015

A Prince on Politics

A Prince on Politics

by Kurt Leube

“The State in the Third Millennium” is a remarkable work. Elegantly written by a historian who is simultaneously a head of state, politician, successful international businessman, world famous art collector, and leading philanthropist, it will doubtless provoke some frank debates. After much research and historical study of the concepts, purposes, and limitations of the state, Prince Hans-Adam II, the reigning Prince of Liechtenstein, has published a work of critical importance … Continue reading -> A Prince on Politics

Migration labor and the welfare state

Migration, labor and the welfare state

The great economist Milton Friedman, a proponent of migration, once said that you can have either open borders or a welfare state, but you cannot have both. Immigrants can be accepted in large numbers as long as they work and are self-sustaining. If they are not, they become premature recipients of welfare, without ever having contributed, writes Prince Michael of Liechtenstein … Continue Reading -> GIS

A Flood of Immigrants

by Pedro Schwartz

Quite some years ago, when I was a very liberal young man writing a doctoral dissertation on John Stuart Mill, I asked my supervisor Lionel Robbins what he thought of the restrictions newly introduced on immigration by the then Conservative government. Robbins answered with another question: … Continue reading -> A Flood of Immigrants

In memoriam Juan Carlos Cachanosky

by Kurt Leube

With the untimely death of Juan Carlos Cachanosky (13. 10. 1953 – 31. 12. 2015) we have not only lost a very dear and reliable friend. We have also lost a brilliantly insightful and resolute free-market scholar who managed to get so many things right and who could explain real world economic behavior with incision and clarity … Continue Reading -> Juan Carlos Cachanosky

Europas Wertegemeinschaft ist ein Wieselwort

Europas Wertegemeinschaft ist ein Wieselwort

von Frank Schäffler

Europa droht zu zerfallen – und die EU-Kommission beschäftigt sich mit einer Kerzen-Verordnung und einem Kerzen-Verbot. Aber geredet wird von europäischen Werten. Weiter können Sprüche und Wirklichkeit nicht auseinander-fallen. Erst durch konkrete Institutionen werden europäische Werte fassbar … Weiterlesen -> Europas Wertegemeinschaft

Let Rwandans decide

Let Rwandans decide whether to stick with success

In a referendum last week on their country’s constitution, the people of Rwanda overwhelmingly approved an amendment that changed presidential term limits. The new rules mean that 58-year-old President Paul Kagame can run again for the presidency in 2017, and could theoretically serve until 2034, writes Prince Michael of Liechtenstein in his latest GIS publication … Continue Reading -> GIS

alt

Populism and government greed jeopardise rule of law

In an alarming trend, individuals, companies and institutions that have committed no crime are increasingly finding themselves subject to public witch-hunts on ill-defined ‘ethics’ charges. The practice is gaining traction in several countries, though it remains unclear who has the authority to rule what behaviour is ethical and what is not, writes Prince Michael of Liechtenstein in his latest GIS publication …

Continue Reading -> Populism and government greed

Haberler Conference 2016

Haberler Conference 2016 | Program revealed

The conference program for the XII. International Gottfried von Haberler Conference 2016 has been revealed. Topic: “Central Banks, Fiscal Policy and the Betrayed Citizen” – German translation: “Über Zentralbanken, Schuldenpolitik und den geprellten Bürger”. Find more details about each of the three planned sessions right here:

Continue Reading -> Haberler Conference 2016

Ukraine: Light at the End of the Tunnel

Anthony de Jasay Prize Winner

Not only in celebration of Anthony de Jasay’s 90th birthday, but foremost in appreciation of his seminal and exceptional works on defending individual liberty by challenging the legitimacy of states and unchecked ‘democratic’ governments, the ECAEF has established the “ECAEF Prize for Thinkers for the 3rd Millennium”. …

Continue Reading -> de Jasay

After Paris, Europe needs to face reality in the Middle East

After Paris, Europe needs to face reality in the Middle East

The world has witnessed several ghastly terrorist attacks in the past month. All are believed to have been carried out by a militant Islamist movement that calls itself Islamic State, or by its affiliates, writes Prince Michael of Liechtenstein. On October 10, two suicide bombers killed 102 peace demonstrators and injured more than 400 in front of the central railway station in Ankara, the Turkish capital. On October 31, a Russian airliner … Continue Reading -> GIS