It is with deep sorrow that the Austrian Economics Center marks the passing of Dr. Edwin J. Feulner, a towering figure in the global liberty movement and the founder of The Heritage Foundation. Dr. Feulner, who passed away on July 18, 2025, devoted his life to the advancement of liberty, limited government, and principled leadership. His unwavering dedication shaped the conservative intellectual landscape, not only in the United States but throughout the world.

In 1973, Dr. Feulner founded The Heritage Foundation, transforming it into one of the most influential policy institutions in Washington, D.C. Under his leadership, it became a bedrock of the Reagan Revolution and a strategic force for policy change. As Kevin Roberts, the current Heritage president, reflected, Dr. Feulner was more than a leader—he was a patriot, a mentor, and an architect of a movement rooted in faith, family, and freedom. He believed firmly in “multiplication and addition, not division and subtraction,” forging unity across the conservative spectrum.

Dr. Feulner’s influence extended far beyond American borders. Our own President, Dr. Barbara Kolm, recalls meeting him on September 8th, 2001at the Mont Pelerin Conference in Bratislava with the sudden ending —a moment that marked the beginning of a shared journey promoting the ideas of freedom and liberty worldwide. “He was that rare combination of a visionary, an institution-builder, and a gentleman,” she shares. “He always offered guidance, connections, and optimism.” His core belief that “People are policy” resonates deeply with our mission at the AEC, reminding us that bold ideas require bold individuals to carry them forward. His trademark farewell—“Onward!”—continues to echo as both an inspiration and a call to action.

Dr. Feulner’s legacy is inseparable from the broader effort to defend economic freedom—especially in times of crisis. At the Austrian Economics Center, we continue to advocate for sound money and fiscal discipline as the foundation of liberty. As highlighted in our recent analysis on inflation policy, many of today’s economic challenges can be traced to unchecked government spending, monetary expansion, and regulatory overreach.

To combat inflation and excessive government spending effectively, policymakers must embrace the principles that guided thinkers like Dr. Feulner: fiscal responsibility, deregulation, and trust in free markets. In honoring Dr. Feulner’s legacy, we reaffirm our commitment to these timeless principles. As we face mounting economic pressures across Europe and beyond, his life’s work serves as a compass—reminding us that courage, clarity, and conviction are the greatest defenses of a free society.