Regulation

Should Artificial Intelligence Be Subject to State Governance?

In his new encyclical, Leo XIV designates AI as a collective good and, in the name of morality, calls for the saving hand of the state. In doing so, he departs from the foundation of traditional Church doctrine on private property and argues on historically questionable grounds.

Capitalism – The Economic Form of Giving

There are many forms of giving, but only one that generates general prosperity: capitalism. It does not begin with exchange, but with giving. It is not the state that creates prosperity, but the entrepreneur and businessman. The cause of mass prosperity is individuals, specific people, their actions and their ideas.

Leviathan Wobbles and Wavers—But the Citizens are Ultimately Responsible for It

In Germany, there is a growing gap between the inflation of the state apparatus and its ability to fulfill its tasks. Politics suffers from political fantasies of omnipotence and constitutional ignorance. Who is to blame?

Global Governance and Regulation

AUSTRIAN ACADEMY 2022: Experienced economist Philip Booth, formerly research director of the London Institute of Economic Affairs and now a professor at Catholic Twickenham University in London, introduces the complex issue of global-level regulation from a consistently liberal perspective.

The ECB Faces a Predicament, the Euro an Impasse

With the now obvious failure of the ECB’s inflationary low interest rate policy, things are now also bad for the euro. The “whatever it takes” approach to saving the euro has reached a point where a reconsideration is necessary.

Do We Need a ‘Great Reset’, or More Capitalism?

For many, capitalism needs to be reinvented. And yet it proved to be robust, innovative and enormously successful, especially during the pandemic. Thus, the idea of a “Great Reset” merely serves familiar anti-capitalist prejudices.

Private Currencies Terrify the Central Banks

Private currencies are currently making central banks sweat. The flood of paper money is making alternative private currencies increasingly attractive. They are based on a technology that is almost unassailable, and the central banks are reacting as you would expect.

Navigating Crises without a Compass: Politics in the Quicksand of Interventionism

Under the guise of the COVID-19 crisis, attempts are being made to use the crisis for a political agenda that would not have found majority support before. The role of the state is expanding. A new policy approach is necessary to secure prosperity.

Tax Policy “Harmonization”: Diversity Is Preached, Uniformity Is Practiced

From the OECD to the EU: Although people like to profess their support for diversity, they nevertheless insist on uniformity. The G-20 wants an international tax cartel. The pressure to be economical with taxes will diminish. The losers will be the citizens.

Low Interest Rate Policy Cripples the Economy and Reduces Prosperity

Japan’s low interest rate policy began 30 years ago, about 15 years earlier than in the EU. But three decades of low interest rate policy meant three lost decades for Japan. In an interview with Stefan Beig, economist Gunther Schnabl explains why the low interest rate policy is so damaging to prosperity.

European Infrastructure and Tech Policy: Failures, Breakdowns, and Empty Promises

Compared to the USA, Europe is lagging behind in terms of information and communications infrastructure. A reexamination reveals: For too long, billions of taxpayers’ money have been invested in technologies of the past.

“Irrational Stock Exchanges” and the Wirecard Scandal: On the Blanket Suspicion of Financial Capitalism

Joint stock companies and stock exchanges have made the upswing of modern economies possible. However, they have always been suspected of serving the greed of a few. What, then, is the function of “financial capitalism”?