Understanding the Financial Crisis
Tuesday, August 18th, 2009 at
1:11 pm
Faculty members from the fields of economics, management and history share their perspectives on the economic crisis in this seminar sponsored by the UC Davis Institute of Governmental Affairs. Taped October 2008. [12/2008] [Public Affairs] [Business] [Show ID: 15586]
Tagged with: affairs • business • crisis • economics • financial • governmental
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In terms of the financial crisis: These investment banks should have stricter oversight to limit risky investments.
In general:
-polluting corporations should pay for the negative externalizes they produce (in taxes).
-establish government regulated monopolies in certain sectors (electricity, etc.)
-Monopolies should be regulated to produce at sociably optimal prices and quantities.
We both don’t trust government, however I don’t trust corporation to produce what is optimal for the populous…
-Our government is a democracy (in theory)
-Our financial sector is NOT democratic, decisions affecting every citizen are made by few powerful.
-The private sector is not interested in serving the people, rather maximizing profits and serving the few who are in charge.
-Government regulation should (in theory) be a step towards the financial sector serving the people.
-Bush let these banks run wild, and rewarded them for bad behavior (basically bad parenting/governing). Regulation/free market
George the reason why corporations are so greedy is because they have to survive. Blame the central banks (federal reserve) for deciding who gets economic securities that determine which corporations survive. The US constitution prevented this, but no politician ever obeys it.
This financial crises is a direct result of the complete legalization of land in the USA around the 1880s. This created a perpetual landless class of people. Since then the government created artificial remedies IE. Fannie, Freddie, etc. to compensate people who could not afford access to land. The government treats the symptoms not the cause.
The value of land increases because it absorbs the economic production from labor and capital. Land increases in value creating
speculative bubbles.
The answer is simple DEBT. See I.O.U.S.A
georgeontherocks … It would appear that you are hypothesizing that regulation ameliorates market risk associated with variance (i.e., volatility). I would suggest the contrary is true. Regulation with its emphasis on non-price determinants and artificial price floors / ceilings creates a state of price disequilibrium. Consequently, despite the fact that the absolute range of the variance decreases, the net variance increases because the market is in a constant state of flux.
land4citizens … Legalization of land allowed capitlization in the form of mortgage holdings. Does the asset capitalization leverage labor by capitalizing effort, or does it diminish it by absorbing labor in a common rental pool (i.e., interest economy)?
I agree, price controls are idiotic, yet, they are unrelated to financial regulation…
Dwyight…A Title to land is the “law-made” Right, not “natural” Right, to deny all other Humans the right to exist on that specific piece of land. When all land is legally owned, those without access are denied the “Natural Right” to exist on this Earth. One must pay another to exist.
Labor and capital (productive human effort) are taxed to provide police, schools, sewers,
roads, bridges, etc. which bring value to land. Land Value is derived from the community. Labor and Capital are punished.
Found this lecture to be very instructive… my question can the change in direction that is likely to come at the national level in the name of Pressident Obama save us? Surely, economic terror is has devastating as any other. Hope do we escape the brunt of this disaster, without losing ourselves. This video gives the answers.. hopefully in time for us change how we do things… use our money.
dig deeper, it wasn’t just Bush, the elite have been running things since the establishment of the Federal Reserve since 1913.
…and while you are at it check Obama’s financial and foreign policy advisers to see what the future holds. Ready for mandtory volunteering for your country (draft said differently). Main stream media are government mouth pieces now so get your info else where and don’t believe everything you read anywhere.
What we have is a balance of payments problem with China. We have spent too much and saved/invested too little, in education and capital development. We will now become a normal nation instead of a superpower. The longer the government tries to stave this off, the more they will inflate the currency.
You seem happy that socialist policies are ruining our nation.
I’m happy that the U.S. will be forced into a multilateral role. It’s hypocritical to cling to dominance in the U.N. and privileged access to oil, and to refuse Kyoto and the NPT, and then claim to support democracy.
I am not exactly a socialist, but I do believe in a strong public sector. Regulation defines and allows markets, and it’s the only way to protect the commons.
There’s nothing about being for high taxes and gov’t spending that implies you should run deficits or have fiat money.
W refused to implement the Kyoto Protocol because an absurd proportion of the costs would have been heaped on America along with infantismle benefits.
Look into the issue, don’t assume ‘they didn’t sign it they must be jerks’.
Or do you mean the government is a mechanical arm for the owners of main stream media?
scientific innovation is what drives the global economy. in the 50′s you had breakthroughs in nuclear energy, plastics, etc. In the 1980′s you had the beginnings of the tech boom that lasted until 2000. Where is the new innovation? THe Us has spent much of the last eight years fighting pointless wars instead of focusing on innovation. The overall standard of living increases not with stable financing but with more effective medical treatment and utilization of natural resources
Haha mandatory volunteering!
I live in Australia where most people seem to think that the Government signing Kyoto was the *be all and end all* of enviroment policy.
Yet, the least Clinton and Bush could’ve done was sign that over-rated piece of paper (for symbolic purposes). Because if every individual person around the world lived the lifestyle of a typical North American (or Australian), then we’d have to re-name Earth: Venus II.
The US has to face the same costs as the rest of us. We are ONE world, not nations…
Get rid of the Federal Reserve!
When will dollar equal one unit of resources again?
No more investing in a rubber dollar!
would not suprise me if these guys are CFR members defending the FED.. Globalists
I love your man at start first speaker , his name is being called out , just keeps on writing , smooth . ha ha
Dude. That is true that givenment need some new innovation which will pull america another aome period of time otherwie war is the solution.
This video is ridiculos. The world is sinking for the incompetence of these fly by night taking them really too seriously.
assoles