During times of economic crises, the public policy response is to abandon basic economic thinking and engage in 'emergency economic' thinking. Professor Boettke argues that basic economic reasoning can help highlight the anatomy of the 2008 financial crisis in the United States and thereby challenge the position that the free market is to blame for the economic recession. He also provides theoretical and practical reasons for economists and policy makers to never abandon the principles of basic economic reasoning even in the most extraordinary of circumstances.
Peter Boettke is a University Professor of Economics and Philosophy at George Mason University, the BB&T Professor for the Study of Capitalism, and the Director of the F.A. Hayek Program for Advanced Study in Philosophy, Politics, and Economics at the Mercatus Center at GMU.
Through an analytical framework strongly influenced by the paradigm of Austrian economics, as well as other intellectual traditions personified by thinkers in the main line of economic thought, such as Adam Smith, Jean Baptiste Say, James M. Buchanan and Elinor Ostrom, Boettke seeks to develop a robust political economy research program that expands an understanding of how individuals acting through the extended market order can effect generalized freedom and prosperity for society, and how the institutional arrangements within which economic actors find themselves can shape, reinforce, or inhibit the individual choices that lead spontaneously to sustained economic development.
Before joining the faculty at George Mason University in 1998, Boettke taught at New York University. In addition, Boettke was a National Fellow at the Hoover Institution for War, Revolution and Peace at Stanford University during the 1992-1993 academic years and the F. A. Hayek Fellow in 2004 and 2006 at the London School of Economics.
with our special guest
The Honorable Ted Cruz
Monday, April 13, 2015
North Raleigh Hilton, 3415 Wake Forest Road, Raleigh, NC 27609
In 2012, Ted Cruz was elected as the 34th U.S. Senator from Texas. A passionate fighter for limited government, economic growth, and the Constitution, Ted won a decisive victory in both the Republican primary and the general election, despite having never before been elected to office.
National Review has described Ted as “a great Reaganite hope,” columnist George Will has described him as “as good as it gets,” and the National Federation of Independent Business characterized his election as “critical to the small-business owners in [Texas, and], also to protecting free enterprise across America.”
Ted’s calling to public service is inspired largely by his first-hand observation of the pursuit of freedom and opportunity in America. Ted’s mother was born in Delaware to an Irish and Italian working-class family; she became the first in her family to go to college, graduated from Rice University with a degree in mathematics, and became a pioneering computer programmer in the 1950s.
Ted’s father was born in Cuba, fought in the revolution, and was imprisoned and tortured. He fled to Texas in 1957, penniless and not speaking a word of English. He washed dishes for 50 cents an hour, paid his way through the University of Texas, and started a small business in the oil and gas industry. Today, Ted’s father is a pastor in Dallas.
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The generation of Americans born after 1980 have more educational credentials than earlier generations, but they are less prepared than their counterparts internationally to participate in the labor force.
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A news outlet's willingness to own up to its mistakes says a lot about its credibility.
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Professors do future journalists and the reading public no favors by teaching students that a left-wing narrative trumps the facts.
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News outlets shirk their duty when they fail to acknowledge important stories.