With great anticipation from the audience and scholars, the second day of the 10th Austrian Economics Conference began. At Veranstaltungssaal debates took place around the different areas of the Austrian School confluence. Scott Nelson from the Austrian Economics Center and Facundo Gustavo Corvalán from the National University of San Luis opened the first session of the morning. Nelson and Corvalán focused on the problem of the energy transition and its fundamental and most problematic assumptions, and they emphasized the importance of discussing the ideas of liberalism on these issues. Later, Michael Jäger from Taxpayers Association of Europe addressed the issue of driving economic recovery, growth, and employment through the principles of the Austrian School in his work “Renaissance of values – Why it is particularly important now to apply economic common sense”.
Then András Tóth from the Carl Menger Center in Hungary proposed a description of workers as life entrepreneurs who use markets for their purposes and offered a broader view of entrepreneurship. For its part, an interesting and novel vision of collateral reuse, financial institution balance sheet, and financial stability was offered by Przemysław Rapka from the University of Economics in Katowice and Instytut Mysesa. Finally, Anders Ydstedt from Svensk Tidskrift explained Eli F. Heckscher’s postulates on mobility in 1921 and its possible impacts today.
Lions, Liberty, and Laissez-faire
A special event has taken place at Veranstaltungssaal. A live session of the “Lions of Liberty” Podcast hosted by Brian McWilliams (United States) was recorded. Together with the guests of the Podcast, Agentomasz, and Spanish Libertarians, they discussed the spread of the ideas of freedom in the episode “Creating a Breakthrough Culture for Liberty in Gen Z”.
In the last round of presentations at Veranstaltungssaal, new proposals were presented within the framework of the principles of the Austrian School. Youly Ninov began the round of exhibitions. Ninov justified the existence of a macroeconomic fund of accumulated savings in an economy to be used repeatedly for investment purposes. Later, Lior Blech from Israel provided a new definition of functional money to reform Mises’s concept to apply it to cases where the purchasing power is large enough to interfere with economic calculation. Later, Lorenz Wied-Baumgartner from the Johannes Kepler Universität Linz explained why it is important to put purpose before profit to strengthen morale as the foundation of an integrated society and the corporate world.
Last but not least, the last session at Veranstaltungssaal culminated with presentations by Aidan Walsh from EY and Malcolm Brady from Dublin City University, and John Saudino from the University of Vienna. Walsh and Brady explained that it is possible to create a theory of the firm using the same coordination mechanism as the broader market order to gain a better understanding of the importance of freedom and voluntary rule-following for individuals in the world. all aspects of life. On his part, Saudino addressed the epistemological approaches of Ludwig von Mises and Karl Popper on the relationship between theory and experience, the state and nature of the principle of rationality, and their approaches to methodological individualism.
To sum up an eventful conference we enjoyed
1 Menger Walk
1 podast recording
2 Hayek Lifetime Achievement awarding ceremonies
150 international guests
A special treat for our international guests was the conference closing at a typical Viennese restaurant: Heuriger Friseurmüller, located in the wineyards in the outskirts of the city. Thus, the 10th Austrian Economics Conference ended with wine, Wiener Schnitzel and great discussions.
We are looking forward to welcoming you back in 2023 for the 12th Austrian Economics Conference!
The AEC’s fundamental goal is to promote a free, responsible and prosperous society. Through education and improving public understanding of key economic questions, the AEC promotes the idea of a free market economy and the ideal of a free society.