Austrian School of Economics

Elon Musk’s Reach for the Stars: Why Eccentric Entrepreneurs Also Benefit the Rest of Us

Elon Musk might rub some people the wrong way, but this eccentric entrepreneur has accomplished some things that many believed were unlikely or even impossible. And ultimately society has benefited.

On the Abuse of Monetary Policy

The euro has been a political project since its inception. That is why the independence of the European Central Bank was also in danger from the outset. In the end, it always came down to the alternative “Cambridge or Vienna” or, rather, “Keynes or Hayek.” The option for Keynes led to an increasing politicization of monetary policy in the European Monetary Union.

Freedom of Expression and Democracy: Opening Lecture at the Students for Liberty Regional Conference

Freedom of expression is a fundamental right without which a free and democratic society cannot exist. We all grew up in this culture of freedom. But Political Correctness and conformism endanger it.

The Ethics of the Market Economy: A Critical Appraisal of Ludwig von Mises’ Utilitarian Interpretation (Academic paper)

Mises’ interpretation of market capitalism is flawed. In truth, Mises is best interpreted in a non-utilitarian way.

The True Meaning of ‘Social Justice’: A Catholic View of Hayek (Academic paper)

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. There exists a true meaning of social justice.

On Our Own Behalf: The Austrian Institute introduces itself

In 1949, Friedrich August von Hayek—one of the most important representatives of the Austrian School of Economics—said in an essay entitled “The Intellectuals and Socialism”: “What we lack is a liberal utopia…a truly liberal radicalism which does not spare the susceptibilities of the mighty…