Austrian Economic Center and the Friedrich August v. Hayek Institute
Barbara Kolm, of the Hayek Institute, and James Turk, Director of the GoldMoney Foundation, talk about the work of the Austrian Economic Center and the Friedrich August v. Hayek Institute to bring the teachings of the Austrian school of economics back to Austria and the rest of the world. After 10 years of warning about the crisis that we are now living through, Austrians are starting to get more attention, although academia is still dominated by Keynesian and Monetarist ideas.
Barbara explains the importance of innovation and economic growth for the material wellbeing of humanity. Barbara talks about the student competition that they are organising as well as their soon-to-come media lecture program. She talks about their mobile-based Austrian economics dictionary available in many languages on Blackberry, i-Phone and Android platforms. She also talks about the Free Market Roadshow. Barbara explains how the Austrian school teaches individual freedom and individual responsibility, and that these are fundamental for prosperity.
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