ECAEF

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 […]

  H.S.H. Prince Philipp von und zu Liechtenstein (LI) is a resident of the Principality Liechtenstein. He studied history and social sciences at the universities of Bonn and Basle. Prince Philipp joined the LGT Bank in Vaduz as Vice Chair of the Board of Directors in 1981. Since 1990 he chairs the Foundation Board of […]