H.S.H. Princess Marie of Liechtenstein, wife of the Ruling Prince Hans Adam II, died on August 21, 2021, in the presence of the family. After receiving the last sacraments she passed peacefully and with great trust in God. RIP.
The Princess was born as Countess of Kinsky von Wchinitz und Tettau in 1940. 1967 she married the then Hereditary Prince Hans Adam. They have four children, Hereditary Prince Aloys, Prince Maximilian, Prince Constantin and Princess Tatiana.
The commitment to people, generosity and humanitarian activities shaped the work of Princess Marie. She will be deeply missed. The loss of the Princess saddens the family and the Principality of Liechtenstein.
The ECAEF (European Center of Austrian Economics Foundation), Vaduz (LI) expresses its deepest condolences.
On August 14, Terry Anderson was handed a celebratory volume of ‘Save the Environment – Unleash the Markets’ comprising original essays commendable to honor Terry L. Anderson. The content of the book shows the profound international appreciation of Anderson’s seminal academic work in free market environmentalism and his unwavering commitment to private property rights.
The title of the Festschrift reflects well his personal credo: ‘Save the Environment – Unleash the Markets’. Anderson is a featured speaker at the International Gottfried von Haberler Conferences in Liechtenstein (LI) and the ECAEF/CEPROM Conferences in Monaco (MC). Both internationally renown conference series are organized by the European Center of Austrian Economics Foundation (ECAEF).
This academic Festschrift was put together by ECAEF with support of the Liechtenstein Academy and the publishing house TvR in Jena.
The Swiss people rejected a new climate law by a majority vote of 51.6%. The meaning of this result is clear – but apparently, to Swiss eyes only. International observers got it completely wrong.
Start with the facts: Switzerland is one of the world’s most climate-friendly developed economies. According to the World Bank’s data for 2016, Switzerland emits 4.12 tons of greenhouse gases per inhabitant per year. Compare this number with the United Kingdom’s 5.8, Germany’s 8.8, or the U.S.’s 15.5.
The same dataset informs us about the carbon intensity of the national economic activity. It is defined as kilos of greenhouse-gas emissions per one U.S. dollar of gross domestic product GDP. Switzerland emits 0.062 kilos per dollar. For comparison’s sake: the number is 0.1 kilo per dollar in the U.K., 0.2 in Germany, and 0.3 in the U.S.
Switzerland has a long series of climate-related laws. Since the early 2000s, the country formulated and achieved several climate-action goals. As a party to the Kyoto Protocol, the alpine nation participated in the first and second commitment periods. In addition to that, the nation’s law on CO2 ambitiously established a domestic reduction goal: By 2020, Switzerland domestically was to reduce 20% of its emissions in comparison to the year 1990. Another achievement added to the list.
Always forward-looking, the Alpine Confederacy ratified the Paris Agreement. Since no popular vote was called against it, the Swiss people accepted it, along with a new goal: a reduction by 50% of greenhouse-gas emissions by the year 2030 in comparison to 1990. The popular vote of June 13 did not reject this goal, nor the Swiss ratification of the Paris Agreement. What was defeated at the ballot box was the manner of implementation of these goals …
*Henrique Schneider is a professor of economics at the Nordkademie University of Applied Sciences in Elmshorn, Germany and chief economist of the Swiss Federation of Small and Medium Sized Enterprises in Bern, Switzerland.
Mark your Calendar! New Conference Date: 20 May 2022
On the Morality of the State and the State of Political Morals
Über die Hybris der Staaten und den Zustand politischer Moral
Gottfried von Haberler Conference | The 16th International Gottfried von Haberler Conference will now take place on May 20, 2022 at University of Liechtenstein in Vaduz. Conference topic: On the Morality of the State and the State of Political Morals. 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 150/Euro 150; Students CHF 50/Euro 50
Academic Director: Kurt R. Leube Tel. +1 650 248 4955 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: 09:00-09:30 Registration 09:30-09:45 Welcome and Opening by H.S.H. Prince Michael of Liechtenstein
Session I: Behind a Democratic Veil: A new Centralism and a Downfall of Standards
May20, 2022, 09:45-10:00 Chair: Peter Fischer (CH) 10:00-10:30 “Democracy as Practiced is Flawed: The New Machiavellianism” – Pedro Schwarz (ES) 10:30-10:45 Discussion 10:45-11:15 Coffee break 11:15-11:45 “Der zunehmende Zentralismus in der Europäischen Wirtschafts- und Gesellschaftspolitik” – Lars P. Feld (D) 11:45-12:00 Discussion 12:00-13:30 Buffet Luncheon for all participants at conference site
Session II: On Autocratic Tendencies and the Erosion of Individual Freedom
13:30-13:45 Chair: Hardy Bouillon (D) 13:45-14:15 “Semantic Traps: Politics with Loaded Terms” – Terry L. Anderson (USA) 14:15-14:30 Discussion 14:30-15:00 “Über ein drohendes Bargeldverbot und die Folgen” – Thorsten Hens (CH) 15:00-15:15 Discussion 15:15-15:45 Coffee break
Session III: On Power, Corruption and the End of the Rule of Law
15:45-16:00 Chair: Karl-Peter Schwarz (AT) 16:00-16:30 “The Separation of Powers as Cornerstone of Liberty under Law” – Chandran Kukathas (AUS) 16:30-16:45 Discussion 16:45-17:15 “Über den Rechtspositivismus und das Ende des Rechtsstaats” – Henrique Schneider (CH) 17:15-17:45 Discussion (general) 17:45-18:00 Closing Remarks by H.S.H. Prince Michael of Liechtenstein 18:15-18:30 Transportation by bus to the cocktail reception at Vaduz Castle 18:30-19:45 Cocktail Reception at Vaduz Castle
Big government, high taxes, massive debt, political polarization and social crises have become the norm throughout Western Europe and North America. But it is high time for leaders and citizens to take a look at the lessons history has to offer. Only then could the region avoid going down the same path as Rome and other fallen empires
Both the Biden administration and the European Union have announced unprecedented spending programs, $1.9 trillion and 1.8 trillion euros respectively, to fight Covid-19 and kickstart the green economy. There is no clear concept on how these funds will be spent or financed. But this kind of spending could serve as a pretext for a sharp tax increase in Washington. It appears that on both sides of the Atlantic, governments see the pandemic and the green economy as ideal excuses to keep overspending and increasing the role of the state and the administration.
This is alarming, given what took place in past societies and states that resorted to overspending and degrading the worth of their currency. In ancient Rome, during the late years of the empire, internal turmoil had disturbed trade flows and the government had become bloated and inefficient. Rulers had to find ways to appease rising discontent. So they tried to buy off the population with gifts. To find the necessary funds, they increased taxes, implemented aggressive tax controls and began debasing silver coins by adding copper (a method strikingly reminiscent of today’s quantitative easing).
With these new measures came a tangle of laws that opened the door to corruption. The people of Rome began demanding panem et circenses as their due. The regime had to feed and entertain the population to survive, to the detriment of a sustainable common good. These welfare handouts from the state created rivalry between different social groups who felt they were disadvantaged compared to others, further poisoning the political situation. As a result, the formidable Roman Empire, once an efficient and well-functioning system, decayed and collapsed. Still, the principle of redistribution by taxing the rich to feed the poor remained popular. But this created the wrong incentives, punishing the hardworking on one side and encouraging idleness on the other.
Likewise, Spain was once the dominating power in Europe. In the 16th century, its European territories included not only the Iberian peninsula, but also large parts of Italy and the Netherlands. Its overseas lands stretched from the southern tip of Tierra del Fuego up to modern-day Colorado and California in the Americas, and also included the Philippines in Asia and territories in Africa. But the Spanish state expanded so much that it required higher taxes, which in turn led to inflation. The defeat of the Armada around the British Isles was not the cause of this decline, but a symptom.
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