Fulminant Joseph Schumpeter Forum 2024

Third symposium of the DFK (Deutscher Freundeskreises der Universitäten in Innsbruck e.V.) on the renowned “Austrian School of Economics” | The role of innovation & entrepreneurship in the state, economy & society | High-ranking guests, exciting discussions, valuable impulses

“Universities meet friends”. With this appealing motto, the traditional DKF has been organizing high-ranking lecture events, symposia, and meetings at locations in Germany and Austria for many years.

The aim of the DFK is to set economic and socio-political impulses and to build bridges between the three universities, between the neighboring countries, between science and business, between alumni and students, etc.

The third Joseph Schumpeter Forum was recently held on the occasion of this year's annual meeting of the DFK in Innsbruck. The aim is to honor the great tradition and unbroken topicality of the renowned “Austrian School of Economics” and to use its findings, which are still valid today, for current challenges in terms of economic policy.

The Kaiser Leopold Hall was packed with 200 students, alumni, representatives of Innsbruck's universities, and guests from business and society.

Monika Köppl-Turyna, director of EcoAustria and internationally renowned scientist, demonstrated in a captivating manner that the findings and approaches of the great Austrian economists Friedrich August von Hayek and Joseph Schumpeter are far from being outdated, and even more important than ever. In contrast to the general assumption, the two do not call for a weak state, but for a strong state with a high level of competence and assertiveness in order to provide the economy and society with cleverly designed rules equipped with the right incentives, within the framework of which innovation, performance, and prosperity arise and the state itself is does not play an active role.

Andreas Dombret, a former board member of the Bank of America and of the Deutsche Bundesbank presents international authority in the field of economic and monetary policy, and demonstrates convincingly how the Russian offensive war has held the global economy hostage as a - globally seen - manageable military conflict and continues to keep it in suspense with worldwide economic, political and social consequences.

As Minister President and CEO of an international corporation, Roland Koch has played a key role in shaping the politics and economy of the Free State of Hessen for many years. In his impressive speech, peppered with many clever, witty remarks, he convincingly demonstrates that we are playing a losing game in the suggestion of a prosperity that is de facto automatically guaranteed without performance and effort - with massive restrictions that are, as an example, already noticeable in the areas of infrastructure and product availability.

The extremely lively panel discussion was competently moderated by Andreas Schnauder, editor-in-chief of the magazine “Der Pragmaticus”, which has quickly gained a great reputation.

In addition to the speakers, the panel guests included Barbara Thaler, President of the Tyrolean Chamber of Commerce, Simon Meinschad, Vice President of the Federation of Austrian Industries Tyrol, Markus Walzl, Dean of the Faculty of Economics and DFK Chairman and Andreas Altmann, Rector of MCI | The Entrepreneurial School®.

After valuable insights, inspiring food for thought and interesting discussions during the breaks, the symposium was rounded off in a pleasant manner with refreshments. All participants and organizers are certain that the Joseph Schumpeter Symposium 2024 was not only a great success, but is so important that it should definitely be continued next year.

DFK chairman Markus Walzl believes that the mission of the DFK has been fulfilled: to bring together the University of Innsbruck, the Medical University of Innsbruck and the MCI | The Entrepreneurial School® with renowned personalities, companies and institutions from science, business and society, to promote a neighborly dialogues and encounters as well as scientific excellence and outstanding academic achievements.