News Archive 2016
Unlocking the Wealth of Indian NationsBy Terry L. Anderson* Many Europeans still view Native Americans as the “noble savage” depicted in the paintings of Karl Bodmer. Traveling with the German explorer Prince Maximillan zu Wied-Neuwied from 1832 through 1834, Bodmer saw and painted American Indians with the dignity and cultural wealth they deserved. Unfortunately, that dignity and wealth have been stripped from most Native Americans by the federal government … Continue reading -> |
25 years after Maastricht, the euro
|
Für etwas mehr Mut und ToleranzVon Michael von Liechtenstein Es gibt in Europa viele bedeutende Universitäten, Think Tanks und führende Forschungsteams. Auch ist die Bereitschaft, wissenschaftliche Forschung mit viel Geld zu fördern, hoch. Sobald aber Forschungsergebnisse vorliegen, stottert der Kapitalmotor, und die Umsetzung in innovative Produkte, Dienstleistungen oder Prozesse rückt in weite Ferne, obschon das Finanzkapital vorhanden ist. Warum ist dem so? … Weiterlesen -> |
Wer hat Angst vor Donald Trump?Kommentar von Prinz Michael von und zu Liechtenstein Mit dem Sieg von Donald Trump ist der Welt für einen Moment die Luft weggeblieben. Die Wenigsten haben damit gerechnet und sind erschrocken ob der Tatsache. In den Wochen vor dem achten November setzte fast alles und jeder auf den Sieg von Hillary Clinton. Insbesondere an den Finanzmärkten hielt man das Szenario Trump weitgehend für unrealistisch. Die Mehrheit glaubte den Wahlprognosen und ging davon aus, dass ein Sieg Trumps üble Folgen für die Finanzmärkte haben würde … Weiterlesen -> |
Jacques Rueff Conference MonacoRéunion de haut niveau des membres du CEPROM Le Centre d’Études prospectives pour Monaco (CEPROM) a organisé au Musée océanographique une conférence consacrée à la banqueroute de l’État providence à travers le monde. L’événement a été ouvert par S.A.S le Prince Albert II, créateur du CEPROM, et S.A.S. le Prince Michael de Liechtenstein, Président du Centre européen de la Fondation de l’économie autrichienne. … continuer à lire -> |
Americans vote for change and for stabilityGIS statement The citizens of the United States have cast their votes and given their verdict after an extremely ugly campaign that took a strange turn as early as the primaries. The Democrats started almost immediately with two main candidates, which led to a less-than-impressive campaign for the nomination. The Republicans had many potential standard-bearers, but no favorite … Continue Reading -> GIS Statement |
Vera Smith Lutz: Hausfrau, Ökonomin, Freigeistvon “eigentümlich frei” Vera Smith Lutz (1912-1976) war nicht irgendjemand. Sie war eine direkte Schülerin von Friedrich August von Hayek in der London School of Economics. Bei ihm erarbeitete sie eine Dissertation im Jahr 1936: „The rationale of central banking“ … Weiterlesen -> |
Das Janusgesicht der europäischen
|
The End of Milton
|
Cheap money policy does not fool citizensGIS statement by The socialist idea of a planned economy is gradually being made a reality by the monetary policies of central banks, such as the United States Federal Reserve and the European Central Bank. The idea is also promoted by a considerable number of western economists and politicians. The conventional wisdom within that group is that economies are driven mainly by consumption. They blissfully ignore the importance of investment and savings … Continue Reading -> GIS Statement |
|
|
Reducing
|
Democracy and populists: a misconceptionGIS statement It is almost impossible to listen to politicians, intellectuals and media personalities lately without hearing the lament that liberal democracies are being threatened by populists, usually of an authoritarian bent. At face value this assessment seems correct. But on closer examination, doubts grow about whether Western political systems can still be called democratic and liberal. … Continue Reading -> |
The Economics
|
The Central Banks’ problem with the profitability of banksby Dr Emanuele Canegrati During the press conference, which followed the 21st July’s meeting of the ECB Governing Council held in Frankfurt, Governor Mario Draghi declared that the European banking system currently has a “future profitability problem” rather than a “solvency problem”. He related profitability imbalances afflicting European banks with the high amount of non-performing loans (NPLs) in banks’ assets but he also said that he felt “confident that strong supervision and robust regulation, and better communication, indeed, by the supervisory authorities, the EBA and all this, will still improve the situation and the perception in the rest of the world’s eyes” … Continue Reading -> |
“eigentümlich frei”
|
Vertragen alternde europäische Sozialstaaten Massenzuwanderung?Essay von Prof. Dr. Erich Weede Deutschland ist ein alterndes Land. Der Anteil der Menschen im arbeitsfähigen Alter sinkt, der Anteil der Menschen, die Renten oder Pensionen beziehen, steigt. Da liegt es nahe, mithilfe von Ausländern, die bei uns einwandern, die demografische Lücke zu schließen. Gleichzeitig wollen immer mehr Menschen nach Deutsch- land kommen: aus den armen Ländern Afrikas, aus Bürgerkriegsländern des Nahen und Mittleren Ostens, aber auch aus den Balkanländern, wo viele Menschen die Hoffnung auf einen Arbeitsplatz und die Aussicht auf auch nur bescheidenen Wohlstand aufgegeben haben. Optimisten neigen in dieser Situation dazu, auf eine Komplementarität der deutschen und der genannten ausländischen Bedürfnisse zu schließen. Lesen sie das komplette Essay hier -> |
The Return
|
|
|
|
Distorting Debates Through DefinitionsDaniel Issing – blog author at studentsforliberty.org – reflects on the seminar ‘Semantic Traps: Politics with Loaded Terms’. It was held on June 9-11, 2016 in Vaduz (FL). Every libertarian is well aware of the odd name defenders of individual freedom use to label their position nowadays. In fact, the word “libertarianism” is a fairly new creation, emerging in the second half of the last century. It was coined to distinguish this position from those who call themselves “liberal”, a word that once represented a commitment to laissez faire and free markets. Today, however, it means the very opposite and is more akin to the socialist position. The redefinition of terms for political purposes was a very successful marketing coup by social democrats, particularly in the United States … Continue Reading -> |
Don’t blow Brexit out of proportionGIS statement For weeks, the United Kingdom’s referendum on whether it should leave the European Union, a scenario known as “Brexit,” has dominated discussion in the media. The ups and downs of the debate have had a corresponding influence on financial markets. Continue Reading -> |
|
|
|
Brexit eBookEdward Aldred, Gérard Bökenkamp, Michael Wohlgemuth Open Europe Berlin hat seit seiner Gründung im Herbst 2012 neben ausführlicheren Forschungs-Beiträgen zu EU-relevanten Themen über 500 Blogbeiträge in drei Sprachen veröffentlicht. Seit klar wurde, dass es zu einem EU-Referendum in Großbritannien kommen würde, haben wir verstärkt über Möglichkeiten der EU-Reform und flexibleren Integrationsmodellen nachgedacht. Hierzu kamen dann Beiträge zum Verlauf der Debatte in Großbritannien sowie zu möglichen Folgen eines „Brexit“ auch für Deutschland und die EU … Weiterlesen -> Brexit eBook |
Im Zuge der
|
Vivien Kellems: Frau gegen StaatEssay von Henrique Schneider Man warf ihr vor: „Wer die USA liebt, kann nicht gegen Steuern sein.“ Sie antwortete keck: „Wer das amerikanische Volk liebt, kann nicht für Steuern sein.“ Vivien Kellems Kampf war gegen die Steuer. Und gegen andere Ungleichbehandlungen. „Unsere Freiheiten existieren, weil Leute bewusst die Gesetze gebrochen haben, wenn ihr Gewissen es so verlangte.“ Vivien Kellem (1896 – 1975) war eine erfolgreiche Geschäftsfrau und eine erfolglose Politikerin. Doch das machte ihr nichts. … Weiterlesen -> Frau gegen Staat |
Buying time with other people’s moneyby Prince Michael of Liechtenstein The leaders of the G7, an informal bloc of industrialized democracies consisting of the United States, Canada, France, Germany, Italy, Japan and the United Kingdom, met last week in Ise-Shima, Japan. In their joint declaration, the seven heads of government, among other things, confirmed their commitment to Iraq’s unity and territorial integrity, pledging $3.6 billion to this task … Continue reading -> |
Haberler-
|
Unkonventionelle Geldpolitik:
|
|
|
|
|
|
|
A Theory of
|
The Panama
|
Schadens-
|
Bedingungsloses Grundeinkommenvon 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:
|
The first crime is the hardestby 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
|
The Political Value of GoldGIS statement by Gisela von Liechtenstein. |
8th International Vernon Smith Prize: EssaysVaduz (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 |
Understanding how Society WorksAn 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 |
Economies need structural reform, not helicopter moneyby 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 |
|
|
Reducing the role of cash will destroy the public’s trust in moneyMoney 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 Voodooby 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 mirageby 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 |
|
|
Vernon Smith Prize WinnersVaduz (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 |
|
|
Migration, labor and the welfare stateThe 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 Immigrantsby 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 Cachanoskyby 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 |
|
|
Let Rwandans decide whether to stick with successIn 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 |
Populism and government greed jeopardise rule of lawIn 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 | Program revealedThe 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 |
Anthony de Jasay Prize WinnerNot 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 EastThe 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 |
Our Partners
