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The Institut für Wertewirtschaft ("Institute for value-based economics") is a school in the traditional sense: "School" is derived from scholé – the Greek word for "muse". It is a place where one muses and tries to get to the bottom of things, in the tradition of free research and teaching, and with a guild of independent scholars that are united in their love for truth (philosophía). The institute was founded in 2007 in Vienna by a group of critical minds coming from diverse areas of research, and focuses its work on the whole German-speaking world. It is one of the few entirely independent research institutes. We seek to analyze the contemporary crisis and seek out answers to the fundamental questions of our time. Thereby we try to avoid utopias, fashion trends, ideologies and any one-sided downplaying of problems, and prefer to take a sober but positive and sensible approach to problems. We are specialized in practical philosophy in the traditional sense, which encompasses the fields of economics, ethics, and politics. In economics we espouse the Austrian, or as we call it, the Viennese School of economics. The institute publishes a number of books, booklets, and articles, holds public events, and offers a number of public and university seminars and courses.


The institute has published books on a range of topics including environmental economics, economics and ethics, the recent financial and economic crisis, business ethics, central banking, and the Austrian School of economics. The institute has also published over forty monographs on issues in economics and philosophy. The institute also publishes the Scholien (side notes) every two months, a subscription-based series of booklets on philosophical and economic issues. The institute's faculty also regularly writes articles for various German-language newspapers and magazines.


The institute organizes a number of public events, seminars and courses at the institute and at various universities.The institute organizes a monthly public event in the form of a philosophical café, where important topics are subjected to philosophical analysis. The institute organizes seminars spanning over several days and semester-long courses that cover various topics in economics, philosophy, business, entrepreneurship, and finance. The institute also organizes university courses in cooperation with universities in Austria, Liechtenstein, Switzerland, and Germany. The institute's faculty is also frequently invited to give talks; our scholars have given talks at over 50 organizations and events in over eight countries.

The Faculty

DI Rahim Taghizadegan
Economist and philosopher. University lecturer at the University of Liechtenstein, the Vienna University of Economics & Business, and the SMC University. Teaching appointments amongst others at the University Heiligenkreuz, the University of Halle/Saale and in South Africa. Author of "Really Understanding Economics: An Introduction to the Austrian School of Economics", and co-author amongst others of "Economics and Ethics" and "The Regulation Race". University studies in Vienna and Lausanne (physics, economics, sociology), study visits in the USA.

Dr. Eugen Maria Schulak
Philosopher and founder of the Philosophical Practice in Vienna, a consulting firm that is specialized in philosophical questions concerning economics and society. Director of the philosophy department at the Siemens Academy of Life. Reader at the philosophy department at the University of Vienna and at the University of Applied Sciences in Vienna, Wiener Neustadt, and Eisenstadt, with a focus on knowledge and science theory, European history of ideas, philosophy of economics and ethics in economics, the Austrian School of economics. Active as a lecturer, tutor, and columnist and author of various books and textbooks including "The Vienna School of Economics: A History of its Ideas, Representatives, and Institutions" (together with Herbert Unterköfler) and "Daimon: About the Motives of Philosophical Thinking".

The Academic Board of Advisors

Prof. Dr. Jörg Guido Hülsmann
Professor of economics at the University of Angers, France and Senior Fellow at the Ludwig von Mises Institute in Auburn, USA. Author of, amongst others, "The Ethics of Money Production", "The Logic of Money Competition", "Critique of the Dominance Theory", "Order and Anarchy", and various further publications in German, English, and French.

Dr. Herbert Unterköfler
Member of the executive board of the Vienna branch of a renowned international consulting firm (executive headhunting, management assessment, leadership and talent management consulting). In his 20 years of experience in consultancy he gained experience in the financial, real estate, and medium-sized industries, with semiprivate firms, and the public sector. He is a public speaker and author on leadership and management topics, especially on finding, choosing and gratifying executive managers and directorates and questions concerning corporate governance.

Support Us

The institute is a non-profit organization with a long-term commitment. In order for us to maintain our independence, we do not accept any tax money and are therefore solely reliant on voluntary payments. This is very unique in Europe, where a philanthropic culture is not as prevalent as in the Anglo- American world and almost all education and research is state-funded. Therefore, even small contributions from international donors are important to us and can make a huge difference. We keep amazing our investors how much we are able to achieve with little financial means. Please help us revive the tradition of the Austrian School of economics in its homeland. Our educational efforts target the whole of German-speaking Europe. To discuss how we can give your investment the best leverage, please contact us at (you may write us in English, German, French or Spanish). The institute's bank details can be found below.


Institut für Wertewirtschaft
Schloesselgasse 19/2/18
A-1080 Wien
Fax: +43 1 2533033 4733

Bank Details

  • Erste Bank, Vienna
  • IBAN: AT332011128824799900