The party was founded in 1931 with Hans Nescher and later Josef Hilti as chairman.
It was based on the economic philosophy of Silvio Gesell and it advocated against capitalism and private ownership.
[1] The party operated the newspaper Liechtensteinische Volkswirtschaftliche Zeitung, which was edited by Nescher.
[3] In December 1932, the party had attempted to introduce its own currency called the Wära, but it steadily lost its value and was banned the following month.
[1] The party's only electoral success came in January 1933 when it won a local mandate in Triesen.