September 9, 2014 Print

The Austrian Economics Center (AEC) notices that one of the biggest barriers to freedom is a simple lack of economic literacy. This issue translates into many of the political and social problems in today’s society. Case in point: the widespread aversion for classical liberal public policies and the insistence that the state do something whenever there are problems. The visible influence of the state steals the attention from the invisible hand of working markets, mainly due to the popular ignorance of good economics.

Many of the activities the Austrian Economics Center conducts focus on this question. On the continental level, they combat economic illiteracy by organizing the Free Market Road Show, a travelling event that in 2014 visited thirty cities across Europe. It gathers leading business people, outstanding scholars and students, opinion leaders, policy experts, elected officials, diplomats and other interested parties to promote best practices and sound economic policies.

On the local level, the AEC organizes the Tax Freedom Day, which marks when average citizens have fulfilled their duties and have their own income finally at their disposal.

In addition, the AEC runs the annual Next Generation’s Mobility program that is dedicated to the economic education of Austrian students (aged 10 - 19). Its winners are awarded prizes and are then invited to participate in a yearlong mentee program with outstanding entrepreneurs, journalists, and other leaders. Furthermore, the AEC regularly trains young people through its Intern Program, cooperates closely with students groups across Europe, and promotes the work of promising researchers with the Book Project "Let's Get Our Freedom Back". Finally, this October, AEC launches its "Contemporary Austrian Economics University" in Vienna.