ECAEF - European Center of Austrian Economics

It is a pleasure to announce the topic of the XX GvH Conference 2026: Austrian Economics at Work. #Austrianeconomics ecaef.org/conferences/go…

China remains the single most important player in metals markets: ecaef.org/the-global-rac… #AustrianEconomics @GIS_Reports

REMINDER: Every fiat currency in recorded history has collapsed to zero value—and the dollar won't escape this iron law of monetary physics. The Romans debased their denarius from pure silver to worthless bronze shavings over three centuries. Weimar Germany's Reichsmark went from 4.2 per dollar in 1914 to 4.2 trillion per dollar by 1923. Zimbabwe's dollar died so spectacularly that street vendors literally weighed stacks of bills instead of counting them (because scales cost less than calculators). France destroyed five separate fiat currencies between 1789 and 1960. Argentina has defaulted nine times since independence. Central bankers today act like they've discovered some magical exception to economic gravity. The Fed prints $4 trillion during COVID and calls it "quantitative easing"—as if fancy terminology changes the fundamental math. They tell you 2% inflation targets represent "price stability" while your purchasing power gets cut in half every 35 years. Meanwhile, they accumulate gold in their vaults while pushing paper on everyone else. You're watching the endgame of a 53-year experiment that started when Nixon severed the dollar's last tie to gold in 1971. Since then, the dollar has lost 87% of its purchasing power. Your government runs $2 trillion deficits and finances them by creating money from nothing. They call this "Modern Monetary Theory" instead of what it actually is: counterfeiting with academic credentials. The only question isn't whether the dollar will join history's graveyard of failed fiat currencies, but whether you'll position yourself accordingly before the mathematics catch up with the politics.

Money and European madness... ecaef.org/when-policies-… @MvLiechtenstein @GIS_Reports #AustrianEconomics

U.S. dollar rules! ecaef.org/the-u-s-dollar… @Colombatto #AustrianEconomics

XX Gottfried von Haberler Conference topic: Austrian Economics at Work. Check the speakers and register for your invitation!: ecaef.org/conferences/

Friedrich Hayek delivered the most devastating blow to collectivism ever written when he published "The Constitution of Liberty" in 1960, and most people still haven't grasped its revolutionary implications. Hayek built his case on a simple but profound insight: human knowledge remains forever scattered and incomplete. No central authority can possibly aggregate the millions of daily decisions, preferences, and discoveries that drive a complex society forward. The socialist calculation problem wasn't just an economic inconvenience—it represented an epistemological impossibility. When you concentrate decision-making power in the hands of planners, you guarantee inferior outcomes because you've severed the feedback mechanisms that allow decentralized knowledge to coordinate spontaneously. But Hayek went further than pure economics. He traced the philosophical roots of liberty back to the rule of law itself. True law doesn't grant privileges to specific groups or pursue particular outcomes—it establishes abstract rules that apply equally to everyone. The moment governments start picking winners and losers (looking at you, modern Western World), they abandon the legal foundations that make freedom possible. Hayek saw this clearly: discretionary government power and individual liberty cannot coexist. The book's real genius lies in connecting evolutionary processes to social institutions. Just as biological evolution produces complex organisms through trial and error, cultural evolution generates sophisticated institutions—property rights, common law, market prices—that nobody consciously designed. These emergent orders vastly outperform anything human planners could create from scratch. Yet politicians and intellectuals keep believing they can engineer better societies through conscious control. Sixty-four years later, we're still fighting the same battle Hayek identified: spontaneous order versus constructed systems, dispersed knowledge versus central planning, constitutional limits versus administrative discretion. Every economic crisis, every regulatory failure, every unintended consequence proves Hayek right all over again.

Sunday Read: Parallel trade networks may outlast war and sanctions ecaef.org/shadow-fleet-k… #AustrianEconomics @GIS_Reports

Is there a hope for Middle East? ecaef.org/the-courage-of… #AustrianEconomics @MvLiechtenstein @GIS_Reports

Cronyism is not capitalism! ecaef.org/cronyism-isnt-… @n_cachanosky #AustrianEconomics

Is Europe trapped? ecaef.org/europes-quiet-… #AustrianEconomics @GIS_Reports

:) #AustrianEconomics #freemarket #MiltonFriedman

Interesting conversation #gold #AustrianEconomics @RonStoeferle

Good question! Check @n_cachanosky analysis: ecaef.org/what-makes-a-g… #AustrianEconomics #FED

Sunday Read: inspiring bio of the Austrian scholar, Robert Zuckerkandl ecaef.org/robert-zuckerk… #AustrianEconomics #price #Value

Do we face a cost-of-living crisis? ecaef.org/the-unaffordab… #AustrianEconomics @GIS_Reports

ECAEF President, Prince Michael of Liechtenstein @MvLiechtenstein comments on the ineffective coalition in Germany ecaef.org/baden-wurttemb… #AustrianEconomics @GIS_Reports

@handre Thank you for preparing the series. Sharing was the only choice for us!

@EcaefAustrian Thank you for the vote of confidence and the share!

A great serie on Austrian School to follow: #AustrianEconomics #freemarket

Check the fabulous program and request your invitation: ecaef.org/conferences #AustrianEconomics