The Macrotrends Prize for the Development of Austrian Economics is a €1,000 prize that is awarded to the three best papers submitted for the annual Madrid Conference on Austrian Economics.
The prize - €500 for the best, €300 for the second best, and €200 for the third best paper - rewards contributions that develop the subjectivist perspective on economics, as expounded by authors like Menger, Hayek, Lachmann and McCloskey.
The focus of this year's Prize lies on the relation between Austrian Economics and investing. Institutional as well as retail investors are encouraged to share their macroeconomic insights, their microeconomic strategies and the relation between both. How can individuals best structure their portfolio, given the present central bank policies? In which phase of the Austrian Business Cycle are we? How does one protect one's savings against inflation "the Austrian way"?
These questions can be answered from real life experience, but papers that can link these experiences to the Austrian capital theory (Böhm-Bahwerk, Hayek, Lachmann) have a higher chance of winning. The Macrotrends Prize for the Development of Austrian Economics also rewards a multidisciplinary approach. It rewards papers that make an effort to combine economical, historical, psychological, and philosophical insights.
The paper’s length can vary between 15 and 30 pages, but should show sufficient density of thought. Papers that bring no real innovation of perspective are unlikely to be considered for the prize. Notation style is APA, and the number of sources referenced should be proportional to the length of the text. Spelling errors lead to an immediate disqualification of the review process. This year, submitting an abstract suffices for the presentation.
Submissions are due before July 31st, 2021. Notification of acceptance for the conference will be no later than August 31st, 2021. The winners of the Macrotrends Prize for the Development of Austrian Economics will be notified in the week before the conference and will receive the Macrotrends Prize for the Development of Austrian Economics on October 29th, 2021.
The winning paper will be published in Procesos de Mercado - European Journal of Political Economy, the leading journal on Austrian Economics. The conference’s Scientific and Organizing Committee wish to express their gratitude to Mr. Brecht Arnaert at www.macrotrends.be for his generous sponsoring of the Macrotrends Prize for the Development of Austrian Economics.
Please direct any enquiries you might have to AustrianEconomics2021@th-luebeck.de