LFMI announces its traditional essay contest on Liberty Studies and invites students and self-studying young people to analyse the price phenomenon – how price is formed and what role it plays on the market.
LFMI has chosen this topic given the repeated initiatives to regulate prices and mark-ups, expecting that consumers will start paying lower prices. Evidently, the society – from decision makers to customers – lack knowledge about what the price, its’ role and the process of formation in the market are. LFMI has announced this contest and will publish a new book in the series “Readings in Economic Policy,” seeking to demonstrate that limited resources are used most economically only when the market is unhampered and that any intrusion in the prices undercuts consumers’ choices and people’s wellbeing.
LFMI invites young people to earn from intellectual activity and write an essay for our contest Liberty Studies on LFMI-proposed or individually selected subtopic. The deadline of the contest is October 1, 2012.
LFMI has been organising the contest Liberty Studies since 2003. Last year students wrote essays on the market and morality.
The proposed subtopics for essays are as follows:
› Price and Knowledge
› Price to Value Ratio
› Moral Aspects of the Price
› Intervention in Prices
› Price Formation as a Process based on the Austrian School of Economics
› Economic Calculations and the Price
› Mythology of Prices
The contest is designed for university students and self-studying people who are above 17 years of age and do not hold a PhD. The essays on the topic proposed by LFMI or an individually selected subtopic must be submitted until September 1, 2011. The works must not be longer than 10 pages. The winners will be awarded solid cash and other prizes in October of this year.
For more information: LFMI@FreeMa.org.
Recommended literature:
› Friedrich A. Hayek, The Use of Knowledge in Society
› Ludwig von Mises, Human Action, XVI. Prices
1. The Pricing Process
2. Valuation and Appraisement
3. The Prices of the Goods of Higher Orders
› Milton and Rose Friedman, Free to Choose, The role of prices.
› G. F. Thirlby, The subjective theory of value and accounting cost
› Laurence M. Vance, The Myth of the Just Price
› Gloria Zúñiga y Postigo, Scholastic Economics: Thomistic Value Theory
The essays and the winners of previous contests
For more information: LFMI@FreeMa.org.
