Mission Statement 2017-04-11T17:59:12+00:00

Mission Statement

The Austrian Economics Center (AEC) is a politically independent research institute committed to disseminating the ideas of the Austrian School of Economics. The AEC considers public policies, identifies economic alternatives, and attempts to realize them based on rigorous analysis and academic research.

The AEC’s basic goal is the promotion of a free, responsible and prosperous society. To achieve this goal, it considers economic and socio-political questions, prepares studies, and recommends solutions. In carrying out its work, the AEC addresses a broad audience – from entrepreneurs and business leaders to economic thinkers and policy-makers, both domestically and abroad. And by improving public understanding of key economic questions and organizing educational programs, the AEC aims to promote the idea of a free market economy and the ideal of a free society.

The AEC is committed to the Austrian School of Economics: It not only hopes to make the main ideas of its leading economic thinkers and social philosophers better understood and more competitive in the marketplace of ideas but strives to ensure that these ideas become historically dominant. Put simply, the AEC’s main duty is to further the Austrian School’s position in society and in the world.

To further its goals and objectives, every year the AEC carries out several Key Projects. These include:

  • Tax Freedom Day: The AEC calculates the date when the average citizen has fulfilled his tax and public charge duties and from then on is free to dispose of his income. AEC provides data and figures for tax rates and the overall taxes paid by citizens, and compares them internationally, showing the consequences of – and alternatives to – excessive taxation. In 2015 Tax Freedom Day in Austria will take place in the second half of August.
  • Free Market Road Show®: Is a series of conferences and panel discussions that tours all over Europe. More than 400 experts participate, presenting aspects of key economic questions in 35 cities (2015), involving the audience into a vital discussion of economic and public policy questions. In 2014 the Free Market Road Show® has also taken place in the USA.
  • Next Generation´s Mobility: This annual program is dedicated to the economic education of Austrian students. Pupils 10 to 19 years of age are invited to compete in a contest responding with creative solutions to a particular challenge. The winners are awarded prizes and are then invited to participate in a mentee program with outstanding entrepreneurs, journalists, and other leaders who will serve as their mentors. Through workshops, seminars, and individual training, the volunteer mentors share their knowledge and professional experiences with the winning students.

The AEC also provides the infrastructure for the European Coalition for Economic Growth (ECEG). The ECEG (www.e-growth.eu) acts as an umbrella organization and a net-hub for all free market oriented and economic theory organizations in Europe. It also works closely with other institutes and think-tanks of similar backgrounds, supporting them with events such as the European Resource Bank Meeting and partnering with them in the organization of conferences like the annual Free Market Road Show®.

The Austrian Economics Center holds the status of a scientific organization and all donations in support of its work are tax deductible.