The 6th International ‘VERNON SMITH PRIZE’ for the Advancement of Austrian Economics

Invitamos a aquellos lectores del blog que cuenten con menos de 30 años, puedan escribir en inglés y tengan cierta vocación en la investigación, a que presenten trabajos al próximo concurso de ensayos “Vernon Smith”, organizado por ECAEF.

Los tres primeros premios son de 4000, 3000 y 2000 euros respectivamente.

En esta ocasión, el tema elegido es el de la deuda pública.

A public debt is the debt owed by a central government. As governments can only finance their expenditures by printing money or levying taxes, a public debt amounts to the deferral of either of these primary methods of finance. If the debt is payed for by printing money, the end result is inflation. However, running a debt which is financed by taxation always implies that a government is not creating new economic activity but only determining the proportion of economic activity which occurs in the public or private sector.

La fecha límite para la presentación de trabajos es el 10 de noviembre de 2013.

Acceda a este link para más información sobre los requerimientos.

4th International ‘Vernon Smith Prize’ for the Advancement of Austrian Economics

Sponsored and organized by ECAEF – Ideas Promoting Freedom
European Center of Austrian Economics Foundation, Vaduz (Principality of Liechtenstein)

 The Rule of Law in Decline

Present-day political thinking is apt to be utterly confused about the nature of the rule of law (Rechtsstaat), and the different purposes a democratic system ought to serve. What we call laws are actually rules which are arbitrarily set or adjusted in whatever fashion the ruling majority determines it necessary. This leads to a progressive decline of individual freedom.

We invite papers on this topic who meet the following requirements:

1: Entries may be submitted by individuals of up to 30 years (2011)

2: Entries may not exceed 12 pgs.; 1.5 space; full bibliography and summary included; left/right margins no less then 1 inch; a current CV must be attached

3: Entries must be submitted in electronic form (PDF) to

4: Entries must be received on or before November 30, 2011.

5: It is expected that all prize winners will participate in the award ceremony.

Prizes are not transferable and will be awarded on the basis of originality, grasp of subject, and the logical consistence of the argument. Essays will be judged by an international jury and the winners will be invited to present their papers at a special event in Vaduz, the Principality of Liechtenstein on Jan. 30, 2012.

First Prize: €4,000

Second Prize: €3,000

Third Prize: €2,000

Deadline for submission: November 30, 2011