The Austrian Institute for Economic Research, founded in 1927 by Ludwig Mises and Friedrich A. Hayek as the Austrian Institute for Business Cycle Research, is one of the oldest research institutions of its kind in Europe. The book sheds light on the work and creativity of the house over time. The Austrian Institute for Economic Research (WIFO) was founded in 1927 by Ludwig Mises and later Nobel Prize winner Friedrich A. Hayek as an institute for business cycle research and soon gained international importance. The best-known economists of their time came from his circle. After the interlude as an institute for East European research in the "Third Reich", it was re-established after 1945 as the Austrian Institute for Economic Research. It now analyzed all areas of the economy and thus assumed a central position in the reconstruction phase. The institute was shaped to a large extent by its respective directors (Friedrich A. Hayek, Oskar Morgenstern, Franz Nemschak, Hans Seidel, Helmut Kramer, Karl Aiginger). As an institution of the social partners, it made a significant contribution to the extraordinary success of the Austrian economy.