In the movie “A beautiful mind” John Nash and his classmates are asked by a professor: “Who among you will be the next Einstein?” In that same spirit, we want to identify and boost the careers of the possible next Hayek or the next Mises.
In the AEC we are convinced that ideas have consequences. That is why we have launched this program to engage young talented libertarians and promote their work. We want to create a hub for the talented minds of tomorrow. It is our deepest belief that the libertarian movement is always in need of new voices.
What we’ve done so far
By the end of 2013 we have started a book contest which, in fact, is much more than a book contest.
From January to December 2014 we will be posting one outstanding paper per month, chosen among the many proposals that are being written by students / young researchers. All papers will be published in a book at the end of the year. This book will have (a) foreword(s) by leading intellectual figures of the libertarian movement.
Moreover, the selected authors will be invited to Vienna to present their papers.
Last but not least, the Top 3 authors will be part of a Panel at our “Free Market Road Show”.by
The Obama Administration has proposed its latest form of collectivist control over the American people. In a letter to Congress U.S. Treasury Secretary, Jack Lew, has called for punishment and prohibition of any company that tries to move its headquarters overseas to avoid higher taxes in the United States. Plus, Mr. Lew has the audacity to call his proposed territorial imprisonment of American business, “economic patriotism.”by
by Doug Bandow
Little more than a decade ago, the United States invaded Iraq. The promised cakewalk turned out far different than expected. Today its government and entire state, created by Washington, are in crisis. Yet the same voices again are being raised calling for military intervention, with the promise that this time everything will turn out well.
Social engineers never seem to learn. It is hard enough to redesign and remake individuals, families, and communities in the United States. It is far harder to do so overseas.by
by Art Carden
Had he not passed away at the tender age of 92 in 1973, Ludwig von Mises would have turned 131 years old today. In my humble opinion, he was the greatest social thinker of the twentieth century. In a series of breakthrough contributions like The Theory of Money and Credit, Socialism: An Economic And Sociological Analysis, Human Action (his magnum opus), and Theory and History–to say nothing of a series of smaller and no-less-insightful works like Bureaucracy and Omnipotent Government–Mises developed theories of economic growth and business cycles that are relevant today.
by Sydney Williams
We should all feel better. Paul Krugman, Nobel Prize-winning economist, columnist for the New York Times and apologist for the Obama Administration recently headlined an op-ed: “Newsflash: There was no debt crisis.” He references the Congressional Budget Office (CBO) projection that the U.S. federal debt will be no higher in 2039, as a percent of GDP, than it had been at the end of World War II! In doing so, Comrade Krugman accepts as absolute the prophecy of a vision-impaired seer. He appears unconcerned that today’s federal debt borrowers lack the discipline of their post-World War II compatriots. He seems unwilling to account for the fact that while the last baby-boomer turns 65 on 2030, life expectancy continues to rise. Given current trends, there will only be two workers for every retiree in 2039. No matter. He sums up his opinion, in case anyone misunderstands him: “We don’t have a debt crisis, and never did.”by
Most Americans implicitly assume that the financial system has always worked the way it does now. Although they may have a vague knowledge that the U.S. dollar used to be tied to gold, they can’t really imagine a world in which prices don’t steadily rise, year after year. It’s also difficult to imagine an economy working without a central bank, since the Fed has been around for a century now. These just seem like facts of life.by
Occupy Central with Love and Peace, a civil-disobedience campaign for democracy and direct elections in Hong Kong, was initiated a year and a half ago by Benny Tai, an associate professor of law at the University of Hong Kong.
Hong Kong’s chief executive officer is currently chosen by a 1,200-member election committee consisting of individuals and groups, which are increasingly pro-Beijing. The Chinese central government has promised universal suffrage in the next elections, in 2017, raising much hope among Hong Kong’s people. Continue readingby
Dr. Barbara Kolm talks about the grim economic outlook for Europe in an interview with the Washington Times.
The ECB’s policy with its negative interest rates and European politicians living in a “parallel universe” constitute the biggest problems for future growth within the EU. “The modest growth rates of below 1% over the last years can not really be considered growth”, Kolm states. Future developments will depend on politicians smarting up and embracing wise policies that may eventually lead to serious and sustainable growth, providing reasonable incentives for enterprises. At the moment however these positive changes are quite out of sight.”
Dr. Barbara Kolm talks to Kitco NEWS about the current economic situation in Europe.
While she thinks that some things have improved and private business are doing quite well or are recovering in most of the countries productivity is still an issue in general. However, it is governments which continue to be in trouble and are still reluctant to reduce their sovereign debts. The political framework all over Europe needs urgent reform!
Especially the policies of the ECB have been flawed over the last few years. While its original task consists in merely keeping the money- supply constant and avoiding inflation, it is engaged in the frivolous printing of new money and the bailing out of banks and whole countries.
“Structural reforms may hurt in the beginning, but they need to be implemented nevertheless. In the long round sound economic policy will definitely pay off”, Kolm is convinced.