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Friedrich A. Hayek Fellowships

 Essays should address one or more of these quotes from Hayek and/or suggested questions. Essays   should be structured as an academic journal article in the appropriate discipline

  • Liberty not only means that the individual has both the opportunity and the burden of choice; it also means that he must bear the consequences of his actions and will receive praise or blame for them. Liberty and responsibility are inseparable”. Hayek, Friedrich (1944) The Collected Works of FA Hayek. V17. The Constitution of Liberty: The Definitive Edition. Routledge & Sons. p. 133.

  • There are those who argue that the government needs to take command of the economy to ensure that everyone is equally treated. But is the Government truly the one in possession of the knowledge to know how scarce resources should be allocated?

  •  How do markets solve the problem of access to scarce resources for the poor and the marginalized in comparison to a government-controlled economy?

  • What role do markets play in tapping into the entrepreneurial potential and spirit of an individual to ensure that individuals in pursuit of their self-interest create greater benefits for society?
  • Can markets solve crippling social issues which may keep individuals trapped in poverty? Does free exchange allow for an expansion of human liberty and dignity when compared to welfarism?
  • For individuals, choice and consequences go together, as Hayek argues. How does this apply to a democratic governments’ choices and their accountability? How should it apply? What mechanisms would ensure that choices and consequences go together for governments as they do for individuals?
Rules of Eligibility and

Submission Guidelines:

The Hayek Essay Contest is open to all individuals 36 years old or younger. Entrants should write a 5,000 words (maximum) essay. Essays are due on May 31, 2024 and the winners will be announced on June 30, 2024.

Essays must be submitted in English only. Electronic versions should be sent to mps.youngscholars@ttu.edu. Authors of winning essays must present their papers at the General Meeting to receive their award. The essays will be judged by an international panel of three members of the Society.

  • First prize: $2500 cash award + travel grant
  • Second prize: $1500 cash award + travel grant
  • Third prize: $1000 cash award + travel grant
Travel grant includes coach class airfare, registration fee and most meals. Hotel, other food and other expenses will be the responsibility of the attendee. Please contact the MPS Young Scholar Program Committee at mps.youngscholars@ttu.edu to address questions or request additional information.

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