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The first panacea for a mismanaged nation is inflation | GIS statement by Prince Michael of Liechtenstein …

The Arrogation of Knowledge and its Consequences Niels Behrmann Second Prize in Vernon Smith Prize Contest 2021. Abstract In this essay, I explore the consequences of the methodologically misguided over-confidence in the human ability to gain knowledge and to design a society based on that knowledge. I will defend the hypothesis that such arrogation of […]

To achieve development goals, societies across the world will have to balance economic sustainability, social factors and ecological necessities. Already, business is making strong progress on this front. Governments’ role should be to set sensible parameters, but too often gets in the way, trying to spend or economically plan its way toward sustainability. Several years […]

Economics Set Free: In Defense of Hayek David Andrew McMillan First Prize in Vernon Smith Prize Contest 2021.   Abstract Policymakers treat economics mysteries as a series of economics puzzles or optimization problems: If only we had more data, they claim, our predictions would be more accurate and evidence-based interventions would deliver greater benefits. The […]

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 […]