Show 549 Why it is misleading to blame the free market for the financial crisis. Audio MP3

Show 549 Hoover fellows Richard Epstein and John Taylor discuss U.S. monetary policy from the 1970s onward. From the Hoover Institute Stanford University program Uncommon Knowledge. To watch the video visit http://www.hoover.org/multimedia/uk/83297952.html#nogo

Chapter 1 After introducing the opposing approaches to economics of John Maynard Keynes and Milton Friedman, Hoover fellows Richard Epstein and John Taylor discuss U.S. monetary policy from the 1970s onward. (6:34)

Chapter 2 What went wrong with the U.S. economy in the 21st century? To what degree is monetary policy to blame? Richard Epstein and John Taylor respond. (7:51)

Chapter 3 Richard Epstein and John Taylor explain why it is misleading to blame the free market for the financial crisis. (7:57)

Guests:

•           Richard A. Epstein

Richard Epstein is the Peter and Kirsten Bedford Senior Fellow at Hoover. He also holds an endowed professorship at the University of Chicago Law School, where he directs the Law and Economics Program. As of 2007, he also became a visiting professor at New York University Law School. His areas of expertise include constitutional law, intellectual property, and property rights. His just-released book is Supreme Neglect: How to Revive the Constitutional Protection for Private Property.

•           John B. Taylor

John B. Taylor is the Bowen H. and Janice Arthur McCoy Senior Fellow at the Hoover Institution and the Mary and Robert Raymond Professor of Economics at Stanford University. He was previously the director of the Stanford Institute for Economic Policy Research and was founding director of Stanford's Introductory Economics Center. He has a long and distinguished record of public service. Among other roles, he served as a member of the President’s Council of Economic Advisors from 1989 to 1991 and as Under Secretary of the Treasury for International Affairs from 2001 to 2005. He is currently a member of the California Governor's Council of Economic Advisors.