The renowned economist Julian Simon is best known for applying the tools of his discipline to the intersection of human civilization and the natural world, observing that free markets and strong property rights create an abundance of resources rather than depleting them — and that the more people there are, the more societal problems they are capable of solving.
At this year’s dinner and reception held annually by the Competitive Enterprise Institute (CEI), with a 2015 theme of “Bourbon and BBQ,” Dr. Vernon L. Smith, 2002 Nobel laureate in economic sciences and professor of economics and law at Chapman University, was presented with the Julian L. Simon Memorial Award. Smith is known as the “father of experimental economics” for his groundbreaking work and contributions to capital theory, finance, natural resource economics, and experimental economics.
“Vernon Smith’s passionate belief that voluntary exchange and human ingenuity, despite people’s flaws, creates limitless possibilities is precisely what Julian Simon meant by man’s ‘ultimate resource,’” CEI President Lawson Bader said in a press release. “Even after winning the Nobel Prize, Vernon is just as humble as ever about his intellectual achievements and even more optimistic about how people can solve problems.”
The Competitive Enterprise Institute established the Julian L. Simon Memorial Award to honor the achievements of Simon, and the optimistic case that he built showing that humanity and human ingenuity is an asset to environmental sustainability rather than a liability. The award is presented to an individual “whose work continues to promote the vision of man as the ultimate resource.”
Learn more about CEI’s annual “Bourbon and BBQ Bash” dinner and reception.