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Articles by hayek_admin

World IP Day

Monday, April 26, marked World IP Day. In cooperation with the Property Rights Alliance (PRA), the Austrian Economics Center celebrated it by signing its annual coalition letter, addressed to the World Intellectual Property Organization’s Director-General Daren Tang. Property rights benefit businesses, both big and small, start-ups or companies with a long tradition. This, in turn, enriches society as a whole.
The COVID-19 pandemic has cost us too much. As a response to the pandemic, several countries are lobbying at the WTO for abandonment of international IP protection (the TRIPS agreement). The day TRIPS is abandoned, the PRA alliance argues, many others would abandon even the minimum of IP protection there has been.
The Executive Director of the Property Rights Alliance Lorenzo

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Vaccine diplomacy: Soft power lessons from China and Russia

As Covid-19 continues to rage throughout Europe, China and Russia seem to be giving the European Union lessons in soft power on its home ground. EU members and countries nearby are turning to Beijing and Moscow for additional supplies of Covid-19 vaccines, faced with rising discontent at the slow rollout of the EU’s own vaccination strategy, supply shortages, delivery bottlenecks, poor communication and concerns about vaccine safety.

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Anti-Vaccine and Anti-Vaping: Against Science and Innovation

Among the many problems originated by the Covid 19 pandemic, one of the most important is the resurgence of the anti-vaccine movement. Conspiracy theories, ridiculous arguments and unfounded accusations have given renewed fuel to one of the most anti-scientific and destructive trends we have ever seen.

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Pandemic diplomacy in the Western Balkans

The business of fighting Covid-19 is now estimated at around $150 billion. As of March 2021, 354 million vaccine doses have been delivered – 90 percent of them to countries that are home to only 10 percent of the world’s population. If 65 to 85 percent of people have to be vaccinated to reach global immunity, then it is unlikely to happen this year.

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In One Image, Everything You Need to Know about Government Intervention

US Consumer Goods and Services, Wages Price Change, 2000 - 2020

While I freely self-identify as a libertarian, I don’t think of myself as a philosophical ideologue. Instead, I’m someone who likes digging into data to determine the impact of government policy. And because I’ve repeatedly noticed that more government almost always leads to worse outcomes, I’ve become a practical ideologue.

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New Opportunities 2021: Fiscal policy for the recovery

This GIS 2021 Outlook series focuses on the opportunities that stem from the upheaval of the past year. Coronavirus vaccine distribution has begun, most probably marking the beginning of the end of the global health crisis. A receding pandemic will leave behind intertwined economic and fiscal challenges for countries around the world.

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Deflation: Friend or Foe?

Deflation is the most feared economic phenomenon of our time. The reason behind this a priori irrational fear (why should we be afraid of prices going down?) is the Great Depression.

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