I am very much a layperson regarding the subject matter of mises.org. One of my buddies had an extra ticket so tomorrow I am going to a lecture by Dr. James Galbraith.
http://www.firstuuomaha.org/files/HollandLecture.html
Any advice on attending a lecture like this? Topics I should brush up on? Articles I should read?
“He finds the current debate is based on the premise the economy is governed by free markets and competition”
This is actually a good point - it is premised on that, but today the economy is interfered with to a great extent by an interventionist government.
"Instead, he suggests that America is becoming a predator nation that abuses public institutions for private profit and undermines public protections for the benefit of private interests. "
Yes, big government can and inevitably will be used as a tool for special interests. Eliminate big government and then companies can’t go there for favors, they actually have to satisfy the customer.
"Galbraith also argues against a hands-off approach to markets, suggesting that unregulated markets will lurch forward from one bubble to the next. "
Well, I suppose he gets their on theory, because we haven’t had free markets in money for the entirety of this country.
He should study Austrian Business Cycle Theory, or investigate who actually predicted the crisis.
" As an example he points to Medicare’s drug plan, which legislates monopoly drug pricing for drug companies."
When there is government interference, then companies can steer the benefits their way.
“He further suggests that crises like global warming will never be dealt with because there is no financial incentive to do so.”
Global warming is caused by humans? That’s been largely debunked by now. The computer models have failed to predict anything. But anyway, governments are the biggest polluters. Only through private property and increased prosperity will people be able to take the necessary steps to curb pollution, etc.
To put it plainly, he’s an economic illiterate. Have fun though!
For articles on the financial crisis of 2008-2009: http://mises.org/daily/3128 (Bailout Reader)
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