Austrian Economics Center

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Austrian Economics Center The Austrian Economics Center's goal is to help create a free, responsible and prosperous society.

Quote of the Week | Friedrich Hayek
12/10/2026

Quote of the Week | Friedrich Hayek

Meet the A·U·S·T·R·I·A·N·S. Part IIIsrael Kirzner, Murray Rothbard, Friedrich von Wieser, and Fritz Machlup.Which Austri...
08/10/2026

Meet the A·U·S·T·R·I·A·N·S. Part II

Israel Kirzner, Murray Rothbard, Friedrich von Wieser, and Fritz Machlup.

Which Austrian economist should join the cast next?

AI modified images.

It's time for our weekly economics quiz! Three options. One correct answer.Put your economic knowledge to the test, swip...
08/10/2026

It's time for our weekly economics quiz! Three options. One correct answer.

Put your economic knowledge to the test, swipe to reveal the answer, and let us know in the comments: Did you get it right?

By August 16, 2026, full-time employees in Austria had effectively spent 227 of 365 days working just to cover taxes and...
07/10/2026

By August 16, 2026, full-time employees in Austria had effectively spent 227 of 365 days working just to cover taxes and social contributions. That equals 62.12% of their total labour costs. From August 16 onward, they finally work for themselves.

Meme of the day.
07/10/2026

Meme of the day.

Two economists. Two different conclusions.In the late 1920s, Irving Fisher believed that monetary stabilization could st...
06/10/2026

Two economists. Two different conclusions.
In the late 1920s, Irving Fisher believed that monetary stabilization could stabilize the dollar and help overcome the business cycle.

Ludwig von Mises did not agree with that approach. In 1928, he challenged Fisher’s monetary views, arguing that artificially low interest rates and credit expansion could fuel an economic boom that would eventually end in crisis.

Fisher remained confident in the stock market even in October 1929.
Then came the crash and the Great Depression.

Swipe to explore the Economic Battlefield.

A surprisingly quiet weekend in the group chat.
05/10/2026

A surprisingly quiet weekend in the group chat.

Quote of the Week | Calvin Coolidge
05/10/2026

Quote of the Week | Calvin Coolidge

The elevator gets stuck. Keynes has a plan. Hayek has concerns.
30/09/2026

The elevator gets stuck. Keynes has a plan. Hayek has concerns.

In Capitalism, Socialism and Democracy, first published in 1942, Joseph Schumpeter described capitalism as an evolutiona...
30/09/2026

In Capitalism, Socialism and Democracy, first published in 1942, Joseph Schumpeter described capitalism as an evolutionary process, one that “never can be stationary.”

Its driving force comes from within: new products, new methods of production, new markets and new forms of organization continually transform the economic structure. The old is displaced as the new emerges.
Schumpeter called this process Creative Destruction - “the essential fact about capitalism.”

More than eight decades later, the concept remains one of the most influential ways of understanding innovation and economic change.

Which innovation best illustrates creative destruction today?

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