The Independent Institute, where I am research director, is offering fellowships to students and young professors for essays on the theme "Is Foreign Aid the Solution to Global Poverty?" Previous winners of the Garvey essay competition include Alan Stockman, Thomas Hazlett, David Kelley, Bryan Caplan and many others.
Young Professors: Win up to $10,000
Although the Olive W. Garvey Fellowship Competition is well known for its college student essay contest–which awards $2,500 for the 1st Prize essay–the competition also has a faculty division. Untenured college professors no older than 35 years of age can win $10,000 for their 1st Prize essay!
This year’s topic is foreign aid.
“Is foreign aid the solution to global poverty?”
A 2005 United Nations report called for a doubling of foreign aid to poor countries as the means to reduce poverty. Yet the 2006 Nobel Peace Prize was awarded to a for-profit microloan bank and its founder, an apparent vindication of the ideas of Peter T. Bauer, Henry Hazlitt, Deepak Lal, and others. As Bauer wrote, “Development aid, far from being necessary to rescue poor societies from a vicious circle of poverty, is far more likely to keep them in that state.…Emergence from poverty requires effort, firmly established property rights, and productive investment.
The deadline for essay submissions is May 1, 2007.