Following up on my posts UK Parliament Speech Invokes Mises Institute re Honest Money and Sound Banking and sUK Proposal for Banking Reform: Fractional-Reserve Banking versus Deposits and Loan, and Jeff Tucker’s Yesterday was a Historic Day: Professor Jesús Huerta de Soto will present a very important lecture on Financial Crisis and Economic Recession, at the LSE’s Hayek Lecture in London next month (this lecture was established and funded by Toby Baxendale, an Austrian classical liberal entrepreneur, philanthropist, and Chairman of the Cobden Centre). More information below:
Date: Thursday 28 October 2010
Time: 6.30-8pm
Venue: Sheikh Zayed Theatre, New Academic Building
Speaker: Professor Jesús Huerta de Soto
The current financial and economic situation of the world should be analysed from the point of view of the Austrian Business Cycle Theory as developed by Mises and Hayek. Professor Huerta De Soto will present innovative solutions to the banking crisis and credit crunch working within the tradition of the Austrian School masters, Mises and Hayek. He will also unveil his proposal for similar legislative change that the “Peel Act” or Bank Charter Act of 1844 achieved with regards to the over issue of promissory notes to gold, but with respect to the over issue of credit. The consequences of doing this should create a climate of financial stability and an opportunity to totally restructure the national debt (potentially pay it off).
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Jesús desde las reuniones en casa de Luis, con Joaquín y los demás, hace mas de treinta años, como nos enorgullece verte hasta donde has llegado, impresiona lo que has evolucionado y sobre todo lo que has sembrado en nombre de la libertad. Que la frase de Goethe te acompañe y que solo la merezca aquel que cada dia lucha para conquistarla.
Un fuerte abrazo
Will there be video, audio, or a transcript of the lecture?
Toby Baxendale informs me that it will be recorded and put up on the web.
Soto wants restore what already had failed in past. Remember on the British economic colapse three years after the approval of Act.
To quote from above:
He will also unveil his proposal for similar legislative change that the “Peel Act” or Bank Charter Act of 1844 achieved with regards to the over issue of promissory notes to gold, but with respect to the over issue of credit.
The issue with the Peel act was that it failed to take into account the issue of non-monetary fiduciary media. This proposal aims to rectify that costly oversight.
The problem is not only monetary. You reduce problems only to money and credit. This is wrong. The crisis in 1847, for example, was caused by the disturbance in the reproduction process due to over-production of sugar due to lack of buyers, rising prices for corn and cotton, railway speculation, swindling operations in trade with India and China, etc.
Why was there over-production of sugar?
Why was there a lack of buyers?
Why was there rising prices for corn and cotton?
Why was there railway speculation?
Swindling operations? Please describe…
Oh, and what is your point, aside from that the problems aren’t monetary? Are you saying this panic proves the need for government intervention?
Is there any sign of this going online and if so any ideas as to where?
Thank you
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