April 2, 2018 Print

Founded in 2006 and based in Liechtenstein, the European Center of Austrian Economics Foundation (ECAEF) is a think tank firmly rooted in the academic tradition of the Austrian school of economics. In addition to hosting academic conferences, ECAEF organizes an annual international essay competition, works with European universities, publishes works of authors in the Austrian tradition, and maintains weekly economic quizzes on its website. In partnership with the Liechtenstein Academy, it also hosts a widely successful course titled “Understanding How Society Works: An Introduction to Austrian Economics,” offered in German and English.

“Understanding How Society Works” is an innovative eight-module course, facilitated by Kurt R. Leube, founding academic director of ECAEF, and taught by leading American and European philosophers, economists, and lawyers. ECAEF is currently developing an online version of the course with several European academic institutions. The eight modules cover an introduction to the Austrian school of economics; philosophy, its methodology, and its limits; select topics in legal theory (the evolution of law, natural law, and spontaneous order); markets and morality; money, banking, and behavioral finance; institutional economics and public choice analysis; demography, immigration, and social security; and environmental economics, property rights, and eminent domain.

Praise for “Understanding How Society Works” abounds. “[The course is] among the most innovative courses I have seen thus far,” said Herman Mashaba, former chairman of the Free Market Foundation and current mayor of Johannesburg, South Africa.

“…I found the entire course very innovative,” said Pedro Schwartz, former President of the Mont Pelerin Society. “This is the kind of program we need to move the ideas of a free society forward. I strongly believe that it will be a complete success from the very beginning. We have a lot of friends around the world who [have been] waiting for a program of this kind…”

ECAEF’s annual International Gottfried von Haberler Conference will be held in Vaduz, Liechtenstein on May 25, 2018, with the topic being the enduring legacy of the ideas of Karl Marx and the failed implementation of such ideas. H.S.H. Prince Michael of Liechtenstein, chairman of ECAEF, will be giving the opening and closing remarks to the conference. Among a handful of scholars featured, Schwartz will be speaking on “The Communist Manifesto after 170 Years,” and renowned scholar Timothy Garton Ash will be delivering a talk titled: “Is a Spectre Still Haunting Central Europe? Reflections of an Eyewitness.

Read the course description of "Understanding How Society Works: An Introduction to the Austrian School of Economics" in English

Read about XIV. International Gottfried von Haberler Conference