Jesse DeCoste has won the David Ricardo Essay Prize for the best essay in the course on the History and Philosophy of Economics (PHIL 363/ECON 319). His essay “On the Origins of Friedman’s Quantity Theory of Money” argues that Milton Friedman had misrepresented his scholarly debts and that he also drew upon the work of non-Chicago economists, notably A.A. Young, L. Currie, R. Hawtry, and John Maynard Keynes. It compares the scholarship of Perry Mehrling, David Laidler, and Don Patinkin, among others. The prize is funded by a Vancouver-based lawyer who is a direct descendant of David Ricardo.
Each year, Dr. Margaret Schabas awards the prize to the best essay in her PHIL 363/ECON 319 course, “History and Philosophy of Economics from Ricardo to Keynes.”