New SpotLight Program
An Into to Austrian Economics
While the business cycle is inherent in the private sector, many people are not aware of its roots in the Austrian school of economics. We aim to change this with our new program dedicated to Austrian Economics.
Thanks to a very generous grant from the Richard E. Fox Charitable Foundation, this introductory program has already been run at four Bastiat Society chapters.
The Bastiat Society of Charleston and the Bastiat Society of Delaware have invited Dr. Richard Ebeling to speak. Hehelped us develop this program and is recognized as one of the leading experts in the Austrian school of economics. Our Panama chapter held a very successful panel discussion with local (Spanish-speaking) academics. They had nearly 50 attendees, and reported the meeting may have been “their largest ever Bastiat Society event.” The Indianapolis chapter had Larry Reed and Wayne Olson of FEE conduct a salon-style discussion with about 60 people regarding Austrian Economics and why it was at the heart of FEE’s mission.
Among other things, our programs explore how the Austrian school views property rights and how market processes solve the "knowledge problem." Our invited speakers also explain that Austrian Economics is not "free market economics." But since it relies heavily on individual action and entrepreneurship to overcome problems that exist in society, many use the Austrian school to defend free markets and limited government.
Due to the enthusiastic response from these chapters, we hope to create a follow-up program which will go deeper into this important subject.