II. ECAEF/CEPROM Conference, Monaco 2017

November 23, 2017

A Case for Europe’s Small States
in the third Millennium

An academic Cooperation of CEPROM and ECAEF

The II. ECAEF/CEPROM Conference (International Jacques Rueff Conference) was an academic one-day co-operation of CEPROM (Center of Economic Research for Monaco) and ECAEF (European Center of Austrian Economics Foundation, Liechtenstein). It took place at the Musee Oceanographique de Monaco, Principality of Monaco, on November 23, 2017.

Introduction by Kurt Leube | Defined in broad terms the small states of Europe are countries that have little territories and small populations – usually both – but enjoy sovereignty, international recognition and share all or at least most of the features of larger states. This differentiates them from other small political entities such as overseas territories or special administrative regions.

Europe is home to the five smallest continental states in the world that have been autonomous or independent for most of their centuries long history and were rarely invaded: Vatican City, Monaco, San Marino, Liechtenstein and Andorra. The majority of them ranks among the most prosperous states in the world. Though, more often than not these small states were situated in places, unattractive to larger surrounding nations and repeatedly military powers left them more or less alone, sometimes for centuries. However, geography alone was not enough to allow small states to survive for centuries on a tumultuous continent. Their development and endurance are mostly due to at least four major factors: Political genius, legal systems that serve the people, accountability and trade.

However, the recent quelling of secessionist movements reveals Europe’s different course. Europe (i.e. the EU) seems to be bound to spread out even more of the toxic effects of centralization, synchronization or redistribution. The thinly veiled duplicity of routinely used words makes it easier for policy makers of large political unions to ever expand the role of an all-powerful government. By ways of progressively pushing for more harmonization and centralization of tax issues and welfare or of forcing people to abandon their local customs, rights and traditions, Europe not only surrenders her classical liberal heritage. In its current course, the EU is also bound to destroy Europe’s vital remnants of individual freedom, competing markets and her entrepreneurial spirit.

To understand the prophetic power of Friedrich A. von Hayek’s (1899-1992) vision, we need to ponder about his statement that serves as subtitle for the conference. To his quotation “We shall all be the gainers if we can create a world fit for small states to live in”, we should not only add that minimizing the aggregation of power would also make us safer. We should also oppose the making of ever-larger political alliances, in the belief that this will bring peace and security.

At the recent II. International ECAEF/CEPROM Conference in Monaco, some of the internationally most renowned scholars and experts in the field have analyzed and discussed the philosophical underpinnings, the current condition and the future of the European Small States. The following papers for download are in the original version and have not been edited.

Kurt Leube
Academic Director of the conference

You can download the conference papers:

Dinner Speech
by Detmar Doering

Small, Sovereign and Resilient: Lessons from the not-so wild Wild West
by Terry L. Anderson

Decentralization, Subsidiarity, Secession: States in Knowledge-Based Societies
by Karl Peter Schwarz

Is Small Still Beautiful? A Swiss Perspective
by Henrique Schneider

Limited Places offer Unlimited Thoughts
by Carlos Gebauer

Small States
by Michel Hunault

Reflections on Smallness
by Antonio Martino

2nd Jacques Rueff Conference, Monaco
Jacques Rueff (1896-1973) 7th Minister of State of Monaco

“We shall all be the gainers if we can create a world fit for small states to live in.” Friedrich A. von Hayek


A Case for Europe’s Small States
in the III. Millennium

Academic one-day co-operation of CEPROM (Center of Economic Research for Monaco, MC) and ECAEF (European Center of Austrian Economics Foundation, FL).

Academic Director:  Kurt R. Leube, ECAEF
Administrative Director:  Emanuel Falco, CEPROM
Media Contacts: Nicolas Saussier, CEPROM
Conference Date: November 23, 2017
Participation: by invitation only
Location: Musee Oceanographique de Monaco, Principality of Monaco
Conference Languages: English and French; simultaneous translation

Conference Venue:
Opening Dinner at the Hotel Hermitage in the presence of H.S.H. Prince Albert II. for invited guests and speakers only, Nov. 22, 2017. Dinner speaker: Detmar Doering (D)

Conference Program:
09:00-9:30  Registration
09:30-9:45  Welcome by H.S.H. Prince Albert II and H.S.H. Prince Michael of Liechtenstein

Session I:
Historical Reflections and Current Challenges (9:45-12:15)
09:45-10:00  Chair: Detmar Doering (D)

10:00-10:30  ‘Small, Sovereign and Resilient: Lessons from the not-so wild Wild West’ – Terry L. Anderson (USA)
10:30-10:45  Discussion
10:45-11:15  Coffee break
11:15-11:45  ‘Decentralization, Subsidiarity, Secession: States in Knowledge-Based Societies ‘ – Karl Peter Schwarz (A)
11:45-12:00  Discussion

12:00-14:00  Luncheon for speakers and invited guests

Session II:
On the Benefits and Drawbacks for Small States (14:00-15:45)
14:00-14:15  Chair: Peter Fischer (CH)
14:15-14:45  ‘Is Small Still Beautiful? A Swiss Perspective’ – Henrique Schneider (CH)
14:45-15:00  Discussion
15:00-15:30  ‘Limited Places offer Unlimited Thoughts’ – Carlos Gebauer (D)
15:30-15:45  Discussion
15:45-16:15  Coffee break

Session III:
A Case for Small States in the III. Millennium (16:15-18:20)
16:15-16:30  Chair: H.S.H. Prince Michael of Liechtenstein (LI)
16:30-17:00  ‘Reflections on Smallness’ – Antonio Martino (I)
17:00-18:15  Panel discussion: Anderson, Gebauer, Schneider, Schwarz, Martino
18:15-18:20  Farewell Remarks: Kurt R. Leube (A/USA)

18:30-19:30  Farewell Reception at the Palace for speakers and invited guests, hosted by H.S.H. Prince Albert II.

Our Partners

Liechtenstein Academy | private, educational foundation (FL)
Altas Network | economic research foundation (USA)
Austrian Economics Center | Promoting a free, responsible and prosperous society (Austria)
Berlin Manhatten Institute | non-profit Think Tank (Germany)
Buchausgabe.de | Buecher fuer den Liberalismus (Germany)
Cato Institute | policy research foundation (USA)
Center for the New Europe | research foundation (Belgium)
Forum Ordnungspolitik
Friedrich Naumann Stiftung
George Mason University
Heartland Institute
Hayek Institut
Hoover Institution
Istituto Bruno Leoni
Institut Václava Klause
Instytut Misesa
IREF | Institute of Economical and Fiscal Research
Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise | an interdivisional Institute between the Krieger School of Arts and Sciences, and the Whiting School of Engineering
Liberales Institut
Liberty Fund
Ludwig von Mises Institute
New York University | Dept. of Economics (USA)
Stockholm Network
Students for Liberty
Swiss Mises Institute
Universidad Francisco Marroquin