It was a real privilege to be invited to attend the XIX International Gottfried von Haberler Conference at the University of Liechtenstein last week in Vaduz. The conference was hosted by the European Center of Austrian Economics Foundation (ecaef.org) and explored the provocative theme of Socialism in a New Disguise with a particular focus on Diversity, Equity and Inclusion. The opening remarks and farewell address were given by HSH Prince Michael of Liechtenstein and the event was followed by a reception at Vaduz Castle.

We participated in a most thought-provoking day that focused on the limits of state intervention and the often-blurred lines between equality of opportunity and engineered outcomes. As Friedrich von Hayek warned, “There is all the difference in the world between treating people equally and attempting to make them equal.”

Themes of individual liberty, decentralised knowledge and the moral foundations of market exchange resonated throughout the sessions. As we navigate growing pressures for centralised planning in the name of social equity, the Austrian School’s argument that prosperity and human dignity flourish best in an environment of free trade, sound money and unfettered markets remains deeply relevant today.

We were amply reminded that the road to serfdom is often paved with good intentions.

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