The Ludwig von Mises Institute-Europe Research Project:
“A critical approach to the present financial policy from a Classical-Liberal Perspective”
Introduction
Today’s world is facing totally new challenges and threats, such as climate change, the return of wars, nationalism, and imperialism.
As always, the time has come to change the direction of the wheel with the return of borders, interventionism, and state involvement in economic policy. As a result of the new threats and challenges we are facing, these actions are needed.
In the last decade we have seen central bank policies like zero percent, negative interest rates, Q.E. (quantitative easing), the overheating of the economy because of unprecedented monetary policies by central banks in the West, unseen public support to help society and economies facing the challenges of the COVID-19 Pandemic, and a surge in transitory or structural inflation, including the consequences of the war in Ukraine.
Isn’t it the time to come back to the ‘classical-liberal perspectives’ needed to bring stability, reliability, and accountability?
The Goal
The aim of this initiative is the following: The Ludwig von Mises Institute-Europe seeks to influence and improve the current financial policies by replacing the instability in the economy and the booms and busts in the financial world and the real economy, by providing a sound real economic strategy, and by suggesting alternative economic solutions based on liberal economic theory and the theories of the Austrian School of Economics.
The Topic
Broadly speaking, there are three topics that need to be dealt with. They are the following:
~ One: Promote the theories of the Austrian School of Economics and the benefits of liberal economic policies by illustrating what can be brought to society by implementing sound and stable economic policies.
~ Two: Applying the theories of the Austrian School of Economics to the real world, to current financial markets and circumstances, and more broadly, to current geopolitical developments. As a subset, given the important role entrepreneurs play in the Austrian School of Economics, the Insitute seeks to illustrate the importance of unhampered but legal entrepreneurial activities.
~ Three: Develop the theories of the Austrian School of Economics, especially in the fields of financial markets, the impact of money on society, and the subjective nature of economic science.
The Content and Formatting
The content and formatting of the project is structured in a manner that allows people to discuss and contribute to solving current economic challenges by employing classical liberal perspectives in the form of the following:
~ One: Case studies, books, presentations, conferences, student courses, publications, newspaper articles, academic articles, small booklets, extra… These shall be promoted on the website of the Ludwig von Mises Institute-Europe and those of its partners… these publications shall also appear on landing pages and social media.
~ Two: Webinars, which will promoted on the website and on the LinkedIn page of the Ludwig von Mises Institute-Europe – it now has nearly 1,800 followers.
The Targeted Audience
The targeted audience will be twofold:
~ One: Representatives of the financial world, policy makers, civil society organizations, politicians, journalists, and banking experts, including those from hedge-funds and pension funds, and
~ Two: The public, especially students and professionals who are critical of the ongoing socio-economic developments and who are interested in an alternative view based on the sound economic theories of the Austrian School of Economics.
Project Governance
The research project will be under the supervision of Heiko de Boer of Pictet Asset Management, a member of the Advisory Board of the Ludwig von Mises Institute-Europe, in cooperation with Mrs. Godart-van der Kroon, the President of Ludwig von Mises Institute-Europe.
The Advisory Board
The Advisory Board will be composed of partners, representatives of the academic world as well as representatives of the banking and financial worlds, European Union institutions, and Business associations, such as SME’s associations and the Press Club of Brussels… Sponsors will be invited to the Advisory board.
Methodology
The methodology will consist of the following:
~ One: Articles explaining the theories of the Austrian School of Economics written by the project’s leaders or by external writers that have been approved by the project’ leaders
~Two: Webinars introducing the theories of the Austrian School of Economics to the wider public (The aim is to trigger interests by explaining the basic concepts of the ‘price-and-interest-rate mechanism,’ the ‘production structure,’ and the ‘Austrian business cycle theory.’)
~Three: Annual Ludwig von Mises Institute-Europe school platforms that will consist of presentations by speakers such as Max Rangeley, Alasdair Macleod, Heiko de Boer, and other selected advisors…These can be in-person events held in combination with on-line facilities… They shall aim to provide selected students with a more in-depth introduction to how the theories of the Austrian School of Economics can be applied in practice.
~ Four: Offering research projects to interested parties that are working on the theories of the Austrian School of Economics for the specific target groups
~ Five: Organizing events on specific topics, presenting the outcomes of research projects, or tailoring presentations to the requirements of certain sponsors.
Project Means
The Ludwig von Mises Institute-Europe has already provided, and will continue to provide, the funding for this project and its office, administrative, staff, travel, venue, and unexpected costs. Despite this, the Steering Committee will also look to other parties for additional and complimentary ways to finance the project.
The Role of the Ludwig von Mises Institute-Europe
The expertise of the Ludwig von Mises Institute-Europe has been built up during its over 20 years of experience. The Insitute has organized over 33 conferences in the European Parliament, including the Mises Circles, and far more conferences outside of the European Parliament. The Ludwig von Mises Institute-Europe has published several books, two of which have been published by Springer Verlag, Germany, a world-wide and well-known publisher. Both of these books were well received. Our members include financiers, academics, think-tank analysts, and politicians, and we therefore bring together the best of all worlds when it comes to these matters. The Ludwig von Mises Institute-Europe is not just theoretical, but it also has vast expertise. This means that the result of this research project will be far better than, for instance, a project only written and discussed by academics.