Essays & News

The winners of the Vernon Smith Prize 2022 are: 1: Lisa H. Kinspherger (IT) 2: Johann-Jakob Chervet (CH) 3: Krysztof L. Lesniewski (PL) and Jonas Trappe (DE) The International Vernon Smith Prize 2022 was an essay competition for the advancement of Austrian Economics – sponsored and organized by ECAEF – the EUROPEAN CENTER OF AUSTRIAN […]

It is 2023, and lest we forget one of the most seminal minds of our times, we should briefly recall the important life and work of James McGill Buchanan who died 10 years ago on January 9, 2013. Buchanan belonged to that long past generation of American social scientists whose extensive work arose from the […]

In crisis, democratic citizens must not exchange their freedom for safety falsely promised by power-hogging governments.  Most of what we hear regarding the coming year is about risks. Risk and pessimism have been the focal points of public discussion. Many in Europe fear their children will not enjoy as good a life as they have […]

Das ECAEF-Team wünscht allen Freunden und Sponsoren Frohe Weihnachten und einen Guten Rutsch ins neue Jahr. Für 2023 bitte vormerken: Vernon-Smith-Prize Preisverleihung am 7. Februar in Vaduz, und 17. Gottfried von Haberler-Konferenz am 12. Mai – ebenfalls in Vaduz.

  Socialism has been a great tragedy this century… It turns out, of course, that Mises was right”. Robert Heibronner (September 1990)[1]   Die Tatsache, dass es doch bis 1922 dauern musste, bis die Unmöglichkeit der Wirtschaftsrechnung im und das unvermeidliche Versagen des Sozialismus durch Ludwig von Mises‘ zweifelsfrei bewiesen wurde, wirft kein gutes Licht […]