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Call for Papers! The 9th International Vernon Smith Prize for the Advancement of Austrian Economics is an essay competition sponsored and organized by ECAEF European Center of Austrian Economics Foundation, Vaduz (Principality of Liechtenstein). This years’ topic: Direct Democracy versus Representative Democracy. Cost and Benefits for the Citizenry! |- First Prize EUR 4,000 -| |- […]

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, […]

GIS statement by Gisela von Liechtenstein* People and economies have always needed means of exchange that represent value and set prices, even in a barter economy. These means of exchange had to have a trusted value and as economies evolved, precious metals, silver and gold served this purpose. As international trading developed, nations relied on […]

An Introduction to the Austrian School of Economics (Seminar) 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. We are not awarding degrees. However, our world-class faculty will grant a degree for the individual […]

GIS statement by Prince Michael of Liechtenstein Money 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 […]