Archive for June, 2011

Videos of the Week

Want a Bigger Slice of the Wealth Cake?… Bake Your Own Cake.

Inflation Propaganda Video From 1930s.

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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.

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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]

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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 CITY
June 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.

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