ECONOMICS FOR REAL PEOPLE: “The international financial system in the age of complexity”
Exciting news this week from our friends at the Auckland Uni Economics Group, with two events to put in yoru diary—including a public celebration for the very first Austrian economist to be appointed to a chair at Auckland Uni!
This week we have two events. Tonight is our weekly meeting, as per usual. On Thursday night, however, we are attending Antony Endres's Speech: The international financial system in the age of complexity. The details for both events are below.
Please note: If you want to come to Professor Endres’s Inaugural Lecture, you must RSVP. This is very easy to do, just click on the link provided in the description below.
Event #1. Econ Group Weekly Meeting: “What’s in a Firm?”
What really and truly is the nature of a business? An enterprise. A firm?
And how does the Socialist Economic Calculation Debate help us answer the question?
Last week we discussed the economic calculation debate—which shows how the price mechanism plays a central role in the success of any economic system, and the chaos that results without it. It turns out that understanding the signal importance of the price mechanism also gives insight into further questions, including (who knew?) many questions within The Theory of the Firm such as:
- Why do firms exist?
- Why do firms not just grow and grow until one day there is just one large firm in the whole world?
The ideas used to answers these questions shaped many of the economic reforms that we saw during the 1980s and 1990s, especially in New Zealand.
In tonight's seminar we shall see that the Economic Calculation Problem is fundamental to a proper theory of the firm.
This seminar will broaden your understanding of an important real-world economics problem.
Where: Room 321, Level 3, Business School Building
Date: Tonight, Monday, May 21
Event #2: Professor Anthony Endres’s Inaugural Speech: “The international financial system in the age of complexity”
The viability of the current financial system is being questioned. We only need to look at Europe today to see this. Is a new blueprint needed?
This coming Thursday evening the University of Auckland presents a lecture to celebrate the appointment of Anthony Endres to a full professorship. Professor Endres specialises in the history of economic thought and is highly regarded worldwide. This will be a fascinating lecture—not just for students of economics but for anyone seeking to understand events in the world today.
Don’t miss this opportunity to hear one of the very best academic economists from this part of the world.
Abstract of the lecture:
International financial manias, panics and crises have raised doubts about the viability of the present international financial system. Is it in fact a "non-system" in urgent need of a new blueprint or at least more extensive regulation?
Professor Anthony Endres will answer this question in his inaugural lecture by discussing the nature of crises, the problem of financial contagion, international creditworthiness, currency competition, big player effects and the "too big to fail" problem. In this discussion New Zealand will feature as a small player.
When: Thursday, 24 May at 6pm
Where: Business School: OGGB 5, Level 0.
PLEASE NOTE THAT YOU MUST RSVP TO ATTEND!
To RSVP and for further details, go to: