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Austrian businesses are unprotected from future demands.
Meanwhile, the ongoing concern about immigration paralleled fears of foreign (particularly German) ownership of Austrian businesses, especially as Austria began privatizing more state-owned operations.
The lifting of the iron curtain and, more recently, the arrival in the EU of new members in central and eastern Europe have provided Austrian businesses with a remarkable opportunity on their doorstep which they have eagerly seized.
Thanks to their cultural and historic links with the region, Austrian businesses were able to establish themselves quickly in the new markets, securing a "first-mover" advantage that may prove quite durable.
The fund, which draws on contributions from the Austrian government as well as money provided by Austrian businesses, is endowed with almost $500 million and has so far dispersed over $300 million to more than 100,000 applicants.
As interested investors have multiplied, so too have the events showcasing emerging Austrian businesses.
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The foreign minister, Michael Spindelegger, is preoccupied with promoting Austrian business.
Austrians are in vogue in America, at least in California, so perhaps it is a good time to dust down Austrian business-cycle theory.
November 13 , 1944Villach, Austria Peter Brabeck-Letmathe, (born Nov. 13, 1944, Villach, Austria) Austrian business executive who headed Nestlé SA, one of the world's largest food companies in the early 21st century.
ADAM OZIMEK, digging through the Marginal Revolution archives, turns up this 2005 post, in which Tyler Cowen explains what he would believe if he believed in Austrian business cycle theory.
But Milton Friedman rejected their analysis, stating in 1998 that: "The Austrian business-cycle theory has done the world a great deal of harm".
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