by Philip Booth • In Pope Francis’ Encyclical Laudato si’ and at many other times, Vatican documents have criticised markets, financialisation and speculation. Some of these critici have implied that speculation in food markets is damaging to ... Read more
The Austrian Institute helps people see themselves as free and sovereign individuals who are capable of responsibly providing for their own lives. It makes the case for individual liberty and free markets from an economic, social, and moral perspective.
The Austrian Institute of Economics and Social Philosophy (the Austrian Institute) is a private, non-profit organization, which makes the case for individual liberty and free markets from an economic, social, and moral perspective, aiming to bring these into broader public consideration. In this way, the Institute seeks to foster and promote an entrepreneurial spirit in all sectors of society.
The Austrian Institute is dedicated to the dissemination of the principles of classical liberalism in the tradition of the Austrian School of Economics, as well as other consistently market-oriented and freedom-based approaches.
The Austrian Institute promotes the ethical ideal of individual responsibility and self-determination in the context of a free market economy and an entrepreneurial society, which can develop for the benefit of everyone – without government interference or the bureaucratic paternalism of the welfare state.
The Austrian Institute pursues these objectives by organizing seminars and workshops, generating scholarly studies on key economic and philosophical issues, as well as publishing opinion pieces and editorial statements on current issues; providing online and other information services; and supporting the practical application and implementation of the training it provides. It makes available information about current events, explains relevant background issues, and provides people with the knowledge to better understand contemporary issues.
Political and economic freedom — especially as expressed in a free market economy and free enterprise system based on the rule of law, which enforces the same rules for everybody and ensures the protection of private property — are both basic conditions for a just and humane society, and are the most efficient way to overcome global poverty and underdevelopment.
The traditional Christian ideals of justice, solidarity, and charity can only be realized if they are guided by sound economic principles, which promote the entrepreneurial potential of all people — including the poorest.
Unlike other approaches to economics, the Austrian School of Economics (also simply called “Austrian Economics”) is not based on a fictitious homo oeconomicus but rather on human beings as they really are and act. It is thus better able to explain economic relationships – and their social and political implications – more accurately than other perspectives.
“Give unto Caesar what is Caesar’s”—but no more: monetary policy as a strategy to extend state power
by Vahan P. Roth • When contemplating the future, and trying to imagine possible outcomes and developments, there is always a fine between optimism and self-usion. We generally overestimate our individual and collective abilities to influence what ... Read more
In 1949, the future Nobel-Prize winner Friedrich August Hayek—one of the most important representatives of the Austrian School of Economics – said the following in an essay entitled “The Intellectuals and Socialism”: “What we lack is ... Read more
by Martin Rhonheimer • Hayek’s dismissal of the concept of ‘social justice’ is well-known. While we can basically agree with Hayek’s critique, we should not entirely reject this concept, although it is often used in a vague and emotional ... Read more
By Samuel Gregg • Donald Trump’s candidacy has brought many topics to greater public attention: everything from frustration with the political correctness that the left uses to stifle debate, to wage stagnation and immigration policy. Another ... Read more
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