What fuels economic growth? How was the debt bubble created? What happened in the housing market, with the large banks, and the ‘too big to fail’ policies of Washington? Is this the fault of capitalism or a mixed economy?
In this panel Yaron Brook, executive director of the Ayn Rand Institute, and Jerry Jordan, president of the Pacific Academy for Advanced Studies, will argue that today’s crisis is a failure of the un-free market, massive government intervention, crony capitalism, government corruption, and the Federal Reserve’s easy money policies. Dr. Brook and Dr. Jordan will go on to evaluate the government’s response to the crisis and suggest alternatives.
Dr. Brook also explains why “the free market has taken the blame for a crisis caused by government intervention. While most people are quick to blame capitalism for any evil because it encourages selfishness and rewards the profit motive, Dr. Brook will argue that these traits are precisely what make capitalism a moral system.”
This video is critical in the understanding of markets, government policies, and the wider implications of ideas on the culture. As Dr. Brook mentions toward the end of their Q & A session, the most important thing we can do is to learn the principles involved in these bad decisions that affect our future prosperity and be a part of the better solutions that are possible.
Here is the link for this most insightful panel discussion at UCLA posted by the Ayn Rand Center for Individual Rights.