• 00:00    |    
    Initial credits
  • 00:06    |    
    The debt spiral into depression
  • 01:42    |    
    Economic point of view of the financial crisis
    • Relative price adjustments
    • Market as a self-correction mechanism
    • The attempt to prevent recession creates financial crisis
  • 04:41    |    
    What produced the financial crisis in 2008?
  • 05:10    |    
    Economics: A coordination problem
  • 06:57    |    
    The role of property, prices, and profits
  • 08:46    |    
    Why the current financial crisis?
    • Personal experience in 1988
    • Experience 15 to 20 years later
    • What has changed through time?
      • The stakeholders of society
      • Lending to individuals that did not qualify for loans
  • 15:59    |    
    Monetary policy
    • Milton Friedman and his explanation of the Great Depression
    • Recession meant deflation
  • 20:15    |    
    Fiscal policy
  • The balanced budget according to Keynesians
  • 23:02    |    
    Regulation and policy direction
  • 24:08    |    
    How to fix things
    • Get the history right
    • Fix the incentives
    • Nothing is too big to fail
    • Fiscal responsibility
    • Sound money
  • 36:53    |    
    Question and answer period
    • Is there a difference between printing money and monetization?
      • Ludwig von Mises and the hyperinflation in Austria
      • The independence of the Central Bank
      • Argentine crisis
    • Private banks and government have benefits from money printing
      • Quote n , Richard Wagner
      • Wall Street and the Federal Reserve
      • Quote n , Murray N. Rothbard
    • How can someone eliminate the incentives of people around the Federal Reserve?
    • How real is the possibility of auditing the Federal Reserve?
    • The government's juggling tricks
    • Do you think that institutions like the World Bank make the moral hazards of governments increase?
      • The loop on foreign aid
      • The International Monetary Fund and the Federal Reserve
    • How can schools in the United States still teach Keynesian theories?
      • Keynes is too convenient for the politics
      • The prediction of Keynes advisors
    • Do you believe people in the United States are lazy and give away freedom in order to be taken care of?
  • 01:22:09    |    
    Final words
  • 01:23:00    |    
    Final credits

Thinking About the Financial Crisis

New Media  | 06 de junio de 2011  | Vistas: 57

Peter Boettke discusses his ideas as to what caused the current financial crisis in the United States. He points out the monetary, fiscal, and regulation policies, among others, as the main causes for such crisis, commenting on the repercussions it has had for the citizens in that country and around the world. Boettke discusses with the students the difference between printing money and borrowing it, explaining who benefits from each activity. Finally, he comments on what the consequences of eliminating incentives for the Federal Reserve System would be like.


Peter Boettke is professor of economics at George Mason University, where…