Liberální Institut, also known as the Liberal Institute, is a Czech political think tank based in Prague which aims to promote the principles of classical liberal thought. First known as the F.A. Hayek Liberal Association, it was founded by Jiří Schwarz, Tomáš Ježek and Miroslav Ševčík in the fall of 1989 and later registered on February 6, 1990 under its current name. Currently led by Martin Panek, the Liberal Institute endeavors to develop and apply ideas of classical liberalism in relation to the Czech and European political system. Its activities are based on the principles of individual freedom, a government with limited powers, the free market and peace. History Established during the early stages of the Velvet Revolution in 1989, the FA Hayek’s Liberal Association was founded by Jiří Schwarz, Tomáš Ježek, and Miroslav Ševčík and on February 6, 1990, was registered under the Liberal Institute. The institute has been led by Miroslav Ševčík, Petr Koblovský and Dominik Stroukal, accordingly. After scandals regarding Ševčík surfaced, he left the institute and became the dean of the Faculty of Economics and Public Administration of the University of Economics in Prague. Mr. Ševčík is currently suing the Liberal Institute. Ideology and values The Liberal Institute's activities and publications are centered around the ideas of classical liberalism, libertarianism and anarcho-capitalism. It places a particular emphasis on the reduction of taxes, the elimination of regulations that inhibit business, the fomentation of competition, the abolishment of unnecessary state authorities and Euroscepticism. the institute's activities revolve around its core values: Individual Freedom: Freedom is a value that underlies all other values. There are inalienable rights that precede the government; among them the right to life, freedom, and the search for one's own happiness. Government with limited powers: A government with limited powers ensures the protection of the aforementioned inalienable rights. The powers listed above are delegated to it, and the citizens retain the rest. Two crucial components are the government's impartiality and the rule of law, not people. Free market: No freedom is possible if private property does not exist, is not respected, or is not enforceable. Private property, freedom of contract, and freedom of association form together a free market that ensures prosperity and protection for the weak and works most efficiently if the government with limited powers intervenes as little as possible. Peace : Peace is the necessary precedent for a small government, a free