The 8th Vernon Smith Prize has been awarded in Liechtenstein by the European Center of Austrian Economics Foundation (ECAEF). Demelza Hays, a doctoral student at the University of Liechtenstein, won a prize for her work.
Daniel W. Issing from Germany won first prize, writes a press release. American Demelza Hays from the University of Liechtenstein came second, and Mats Ekmann from Finland came third. President of the ECAEF foundation board Prince Michael of Liechtenstein spoke at the awards ceremony, according to an article in newspaper "Volksblatt".
The prize honours people who advance the Austrian School of Economics via means of an essay answering a specific question. The question for 2016 was: "Edward J. Snowden: Hero or Villain?" According to ECAEF, the question is designed to illuminate the fact that some actions are justified when carried out by the government, but seen as a crime when done by an individual.
The European Center of Austrian Economics Foundation (ECAEF) is headquartered in Liechtenstein. It describes itself as a liberal think tank that stands for for self-responsibility, individual freedom, and limited government.