Vienna vs Chicago: Clash of Free-Market Titans in Response to the Ongoing Financial Crisis

2 November 2010, 6.30pm

The IEA presents an Occasional Lecture by Dr Mark Skousen

Dr Mark Skousen, author of "Vienna and Chicago, Friends or Foes?", will address the major differences between the Austrian and Chicago schools in confronting the ongoing global financial crisis, both in cause and policy prescriptions. The Chicago monetarists have never worried much about asset bubbles, while the Austrians accurately predicted the macro effects of the real estate crash and the destabilizing nature of central bank inflation. The two schools also differ considerably on policy: Chicago favours interventionist actions by the central banks; Austrians adopt a laissez faire policy. In this timely lecture, Dr Skousen will analyze each position and which school has the advantage. After his lecture, he will have an autograph session for his book "Vienna and Chicago".

Dr Mark Skousen is a professional economist, investment expert, university professor, and author of over 25 books. Currently he holds the Benjamin Franklin Chair of Management at Grantham University. In 2004-05, he taught economics and finance at Columbia Business School and Columbia University. Since 1980, Dr Skousen has been editor in chief of Forecasts & Strategies, a popular award-winning investment newsletter. He is also the producer of FreedomFest, the world's largest gathering of free minds (www.freedomfest.com). He is a former analyst for the CIA, a columnist to Forbes Magazine, chairman of Investment U, and past president of the Foundation for Economic Education (FEE) in New York. He has written for the Wall Street Journal, Forbes Magazine, and the Christian Science Monitor, and has appeared on CNBC, CNN, ABC News, Fox News, and C-SPAN Book TV. His bestsellers include The Making of Modern Economics and The Big Three in Economics. In honour of his work in economics, finance and management, Grantham University renamed its business school, “The Mark Skousen School of Business.”

Website: www.mskousen.com.