Kevin Dowd, professor of economics at Nottingham University Business School, gave an excellent lecture yesterday, which you can see on Google Video, though the audio is long and the video is not well edited to remove seemingly endless introductory material.
In any case, Professor Dowd says pretty much what everyone at Mises.org has been saying: this problem was created by central banking, deposit insurance, fiat money, loose credit, and can only be fixed by a radical overhaul involving redeemable commodity money — i.e. a truly free market. It’s a good talk that I think Murray Rothbard would have very much liked but for his uncritical discussion of Scottish free banking.
There is a good summary of the speech at Samizdata.
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Apparently Sean Gabb is selling DVDs of the talk that promise to be a better quality version:
“A better quality video file on DVD is available on request from Sean Gabbfor £5.”
I have no idea whether it will work in Region 1 players, of course.
I can burn disks in either PAL or NTSC format. I might even re-edit the footage if I get enough orders!
i’m still trying to dig up one instance where free-banking proved itself viable (putting aside moral aspects). rothbard and sechrest seem to have exploded the scot model. where are the other examples?
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