The O.P. Alford III Prize in Libertarian Scholarship is a $1000 prize awarded by the Mises Institute each year for the the article published in the preceding volume of Libertarian Papers that best advances libertarian scholarship, as chosen by the journal’s Editor and Editorial Board. There were forty-five articles were published in Libertarian Papers in 2010. The 2010 award was given by Mises Institute President Doug French at the Austrian Scholars Conference 2011 to Professor Philipp Bagus for his article “Austrian Business Cycle Theory: Are 100 Percent Reserves Sufficient to Prevent a Business Cycle?” (See the video of the Alford Prize award ceremony.) Congratulations to Dr. Bagus.