Prize-Winning Essays on Money and Credit
Two $1,000 prizes were awarded at last week's 2012 Austrian Scholars Conference for outstanding essays. Fittingly, in the ASC celebrating the centennial of Mises' first magnum opus, The Theory of Money and Credit (although, in the conference, Guido Hulsmann explained, among other mistranslations in the English edition of the book, how "credit" really should have been translated as "fiduciary media" instead), the prize-winning essays were, respectively, about money and credit. The Lawrence W. Fertig Prize in Austrian Economics went to Malavika Nair for “Money or Money Substitutes? Implications of Selgin’s Small Change Challenge, and the O.P. Alford III Prize in Libertarian Scholarship went to Thorsten Polleit and Jonathan Mariano for “Credit Default Swaps from the Viewpoint of Libertarian Property Rights and Contract Theory,” Congratulations Malavika, Thorsten, and Jonathan!