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09: The Austrian School of Economics and its significance today

Alpbacher Hauptschule
Breakout / Working Group
German and English language

A group of brilliant thinkers – led by Menger, Böhm-Bawerk and Wieser – based in Vienna in the late 1800s were using revolutionary principles to reinvent economics. Eventually called “The Austrian School” these men (later: Mises, Schumpeter, Schönfeld-Illy, Hayek, Haberler, Machlup, Morgenstern…) rejected the mechanical and deterministic approach of their colleagues, advocating instead a “pure” economics that accounted for the role of individuals and their desires. The Austrian School reflected the recognition of risk and uncertainty in their models… and have done more for global wealth creation than possibly any other group. Never completely dormant the Austrian School of Economics today is enjoying a worldwide resurgence. Faced with the apparent break-down of the welfare state, the failing of Keynesian strategies, and the turmoil at international financial markets, the methodological subjectivism of the
Austrians again is in demand.


Chairman, Peter Jungen Holding GmbH, Cologne
Head of Consulting, PwC PricewaterhouseCoopers GmbH, Wien
Chairman, Institute for Global Economic Growth, Washington, DC; Member of the Board of Directors, Cayman Islands Monetary Authority
Professor of Law and Economics, George Mason University, Nobel Prize in Economic Sciences 2002, Fairfax
Professor of Political Sociology, Universität Bayreuth
President, Friedrich August v. Hayek Institute; Director, Austrian Economics Center, Vienna Chair

Dr. Peter JUNGEN

Chairman, Peter Jungen Holding GmbH, Cologne

  Chairman, Owner, Founder, Peter Jungen Holding GmbH
  Started his career with Otto Wolff Gruppe
1986-2004 Co-Chairman of the Saudi-German Businessmens Dialogue
1987 CEO, steered its restructuring back to profitability, Strabag AG, Cologne
  Co-Founder and Investor in more than 60 start-ups in Europe and in the USA, including Idealo Internet GmbH
  Partner, Halo Fund, Palo Alto
1991 Founder of Peter Jungen Hlolding GmbH, Cologne
  Co-Founder, President, European Business Angels Network (EBAN)
  Co-Founder, President, International, Palo Alto
  Co-Founder, President, European Enterprise Institute (EEI)
  Vice Chairman, German Machinery and Plant Manufacturers' Association (VDMA)
  Chairman, Center on Capitalism and Society, Columbia University, New York
  President of the Small and Medium Entrepreneurs Union of the EPP (SME-Union), Brussels
2001-2004 Founding President of Business Angals Deutschland (BAND)

Mag. Helmut KERN

Head of Consulting, PwC PricewaterhouseCoopers GmbH, Wien

1990 Studium der Betriebswirtschaftslehre, spez. BWL Controlling und Rechnungswesen, Wirtschaftsuniversität Wien
1994 Staatlich geprüfter Unternehmensberater, Wirtschaftskammer Österreich
1996 Managing Director, Austria, Deloitte Consulting
seit 2003 Geschäftsführender Gesellschafter, Beyond Consulting GmbH (vormals Deloitte Consulting GmbH), zuvor Global Partner, Deloitte Consulting, Managing Director Österreich
seit 2006 Geschäftsführender Gesellschafter, Beyond Holding GmbH
seit 2010 Head of Consulting, PwC PricewaterhouseCoopers Österreich, Wien

Dr. Richard W. RAHN

Chairman, Institute for Global Economic Growth, Washington, DC; Member of the Board of Directors, Cayman Islands Monetary Authority

 Richard W. Rahn currently serves as a member of the Board of Directors of the Cayman Islands Monetary Authority. He is Chairman of the Advisory Board of the European Center for Economic Growth, a Visiting Fellow of the Heritage Foundation, and an adjunct scholar at the Cato Institute. He writes a weekly economic column for The Washington Times which appears in many other newspapers around the world. Previously, Dr. Rahn served as Vice President and Chief Economist of the Chamber of Commerce of the United States. He has written hundreds of articles for leading newspapers and has contributed to numerous books and professional journals, and is the former Editor-in-Chief of the Journal of Economic Growth. He has testified before the U.S. Congress on economic issues more than seventy-five times, and is a frequent commentator on radio and TV. He holds Ph.D. in Business Economics from Columbia University.

Vernon L. SMITH

Professor of Law and Economics, George Mason University, Nobel Prize in Economic Sciences 2002, Fairfax

 He received his bachelor's degree in Electrical Engineering from Cal Tech, and his Ph.D. in Economics from Harvard. He has authored or co-authored over 200 articles and books on capital theory, finance, natural resource economics and experimental economics.
 He serves or has served on the board of editors of the American Economic Review, The Cato Journal, Journal of Economic Behavior and Organization, the Journal of Risk and Uncertainty, Science, Economic Theory, Economic Design, Games and Economic Behavior, and the Journal of Economic Methodology.
 He is past president of the Public Choice Society, the Economic Science Association, the Western Economic Association and the Association for Private Enterprise Education. Previous faculty appointments include the University of Arizona, Purdue, Brown University and the University of Massachusetts. He has been a Ford Foundation Fellow, Fellow of the Center for Advanced Study in the Behavioral Sciences and a Sherman Fairchild Distinguished Scholar at the California Institute of Technology. He received an honorary Doctor of Management degree from Purdue University, and is a Fellow of the Econometric Society, the American Association for the Advancement of Science, and the American Academy of Arts and Sciences.
 He has served as a consultant on the privatization of electric power in Australia and New Zealand and participated in numerous private and public discussions of energy deregulation in the United States. In 1997 he served as a Blue Ribbon Panel Member, National Electric Reliability Council.

Dr. Michael ZÖLLER

Professor of Political Sociology, Universität Bayreuth

1966-1969 and
1971/1972 University Training in Frankfurt, Würzburg and München (Philosophy, History, Political Science and Sociology)
1973 Dr. phil., München, (summa cum laude)
1975-1979 Dozent (Hochschule für Politik)
1986 Visiting Professor University of Notre Dame
1988-1991 Chairman (Dekan)
 Present Positions:
 Professor (Chair) of Political Sociology,
 Director Center for American Studies at Universität Bayreuth
 President "The Council on Public Policy"
 Adjunct Ordinary Professor of Government at Catholic University of America, Washington D.C.
1995-1997 Max-Weber-Professor, University of Erfurt

Mag. Dr. Barbara KOLM

President, Friedrich August v. Hayek Institute; Director, Austrian Economics Center, Vienna

1994-1997 Assistant Professor, Department of Tourism and Service Economics, University of Innsbruck
since 2000 President, F. August v. Hayek Institute
since 2006 Director, Austrian Economics Center

Economic Symposium

show timetable
Kategorie: all BreakoutPlenary


14:00 - 14:15OpeningPlenary
14:15 - 16:00Globalization: The decline of the old order?Plenary
16:15 - 16:45Special Lecture: Globalization: The decline of the old order?Plenary
16:45 - 18:30Special Lecture: The media and globalizationPlenary
19:00 - 20:30National states and corporations in competition?Plenary


09:00 - 10:30Global, national and /or self-regulation: Who/what will replace the national state?Plenary
11:00 - 12:30The world financial system and national statesPlenary
14:00 - 17:00Working group 09: The Austrian School of Economics and its significance todayBreakout
15:00 - 18:00Arbeitskreis 01: CSR und ZivilgesellschaftBreakout
15:00 - 18:00Arbeitskreis 03: Globalisierung - Chance oder Gefahr. Öffnung der Agrarmärkte am Beispiel ZuckerBreakout
15:00 - 18:00Arbeitskreis 04: Internationale Finanzmärkte und FinanzierungBreakout
15:00 - 18:00Arbeitskreis 05: Tourismus als Motor für Wachstum und BeschäftigungBreakout
15:00 - 18:00Arbeitskreis 06: PPP und Infrastruktur im GesundheitswesenBreakout
15:00 - 18:00Arbeitskreis 07: Medien und GlobalisierungBreakout
15:00 - 18:00Arbeitskreis 08: Regionalentwicklung im Spannungsfeld von Markt und PolitikBreakout
15:00 - 18:00Arbeitskreis 10: Liberalisierung der DienstleistungenBreakout
15:00 - 18:00Working group 02: Financing infrastructure projects in Central and Eastern EuropeBreakout
15:00 - 18:00Working group 11: Corruption as a global factor of (im)potenceBreakout
19:00 - 20:00Special Lecture: Europe and Africa together?Plenary


09:00 - 12:30Political perspectivesPlenary
12:30 - 12:40Closing remarksPlenary