ECAEF

Why free markets do not impoverish the poor Valeria Lucia Rios Sánchez Abstract The following essay analyzes one of the most controversial debates: the idea that the rich become richer at the expense of the poor. Drawing on the contributions of Ludwig von Mises, Friedrich Hayek, and Israel Kirzner, the essay refutes this notion by […]

Who exploits whom? Spain’s welfare state and the return of zero-sum politics Andrés Ruiz Benito ABSTRACT Public debate increasingly frames inequality as a zero-sum process: “the poor get poorer because the rich get richer”. Proper economic theory rejects this inference for competitive markets, where voluntary exchange and entrepreneurship can expand output and allow gains to […]

Dinner for One, served by the poor? How our micro-cosmic intuitions mislead us in a macro-cosmic world Vincent Czyrnik   ABSTRACT This essay uses the familiar New Year’s Eve sketch Dinner for One as an entry point to examine a central question in political economy: why do widespread perceptions of injustice persist despite historically unparalleled […]

  It is with great pleasure that we welcome Professor Andreas Altmann as a member of the Foundation Board of the European Centre of Austrian Economics in Vaduz, Liechtenstein. Professor Altmann is ideally suited to strengthen and further the mission of the ECAEF. The ECAEF stands for individual freedom, self-responsibility, private property, free markets, and […]