Videos of the Week
Want a Bigger Slice of the Wealth Cake?… Bake Your Own Cake.
Inflation Propaganda Video From 1930s.
The Ideas Of Keynes And Hayek
Hi all,
Earlier this year, The University Economics Group showed the Hayek vs
Keynes rap video, in which the two schools of economic thought
debated their respective ideas through music. In this Tuesday’s
seminar, we are pleased to present a discussion involving leading
advocates of each economist and they will do so making reference to
the music video.
First, the ideas of John Maynard Keynes are presented by Lord Robert
Skidelsky, Keynes most famed biography. Lord Skidelsky explores the
foundations of Keynesian economics. Is our prosperity derived from a
continual circular flow of spending? Is it impossible for a society
to increase its total savings? Can deficit spending by a government
step in to replace private activity in order to maintain full
employment and restore lasting economic growth? What is a liquidity
trap and what does it mean for the economy? What did Keynes really
mean by “in the long run, we’re all dead”?
We will then hear from Hayek scholar Lawrence H. White. Dr White
provides an overview of the Mises/Hayek “Austrian” theory of Boom and
Bust presented in the video. This is the view that the bust is driven
by the unsustainability of a boom driven by artificially low interest
rates and credit expansion by the central bank (the Fed) beyond the
supply of genuine savings. Lawrence H. White is a professor of
economics at George Mason University.
This promises to be an enlightening discussion especially in these
interesting times.
Date: Tuesday 21 June
Time: 6pm
Room: University of Auckland Business School, Owen G Glenn Building,
Room 260-325
Look forward to seeing you there.
The Incredible Bread Machine [Updated]
This week The University Economics Group we will view and discuss a short film that a former US Treasury Secretary once called “probably the finest effort at explaining in lay terms the economic facts of life…”This short film called ‘The Incredible Bread Machine’ integrates a number of the ideas that we have already looked at this year. It slays a number of economic myths that still exist today, 40 years after the film and book were released. Great viewing.
Date: Tuesday 14 June Time: 6pm Room: University of Auckland Business School, Owen G Glenn Building, Room 260-325 Note that the room number is different this week.Look forward to seeing you there.
[Update: Link to The Incredible Bread Machine Video]
Sunday Economics – Wealth and Its Role in Human Life
Hello All,
This coming Sunday, Professor Reisman presents “Wealth and Its Role in Human Life”. This is based on Chapter Two (of Part One) of George Reisman’s Capitalism (pages 39-62). As we have seen, economics is the study of how wealth is created in a division of labour society. But what is wealth? and how is our desire for limitless wealth reconciled with the concept of scarcity that we are familiar with? Again, this seminar further develops the foundations that you need to understand economics.
ASB Bank Centre, 135 Albert Street, AUCKLAND CITYJune 5, 10.30 am-12 noon (and every Sunday thereafter) Please meet outside the main entrance to the ASB Building each Sunday morning at 10.25am, and we will enter building. If you are late, please text Julian and we will let you in.
To be kept informed about each week’s Sunday seminar, please contact us (by email if possible) indicating your interest in these seminars.
Look forward to seeing you there.