Im reihan salam. Im president of the Manhattan Institute. And i wanted to start the evening by explaining exactly why this prize is so important to us. The hayek prize is a celebration of Friedrich Hayek, one of the most consequential thinkers of the modern era, a celebrated who was awarded the nobel prize in 1974. Hayek did more than just make intellectual breakthroughs. He inspired a generation of economic reformers who helped liberate countless millions from poverty around the world. And his message remains vitally important as we look to the future. In his 1944 book, the road to serfdom, hayek drew a connection between economic and freedom more generally, arguing that government control of economic Decision Making paved the way to further encroachments on individual rights and the use of knowledge in society. A groundbreaking article published in 1945, he carefully and methodically dismantled the logic behind economic collectivism at a time when the worlds intellectual elite was co
Im president of the Manhattan Institute. And i wanted to start the evening by explaining exactly why this prize is so important to us. The hayek prize is a celebration of Friedrich Hayek, one of the most consequential thinkers of the modern era, a celebrated who was awarded the nobel prize in 1974. Hayek did more than just make intellectual breakthroughs. He inspired a generation of economic reformers who helped liberate countless millions from poverty around the world. And his message remains vitally important as we look to the future. In his 1944 book, the road to serfdom, hayek drew a connection between economic and freedom more generally, arguing that government control of economic Decision Making paved the way to further encroachments on individual rights and the use of knowledge in society. A groundbreaking article published in 1945, he carefully and methodically dismantled the logic behind economic collectivism at a time when the worlds intellectual elite was convinced that stat
Can we calculate a nations economic wellbeing by adding up those individual measurements . Can we compare National Figures over time to determine if our economy is making progress . U. S. Economic growth what is the Gross National product . With economic analyst richard gill well explore that question on this edition of economics usa. Im David Schoumacher. These computer tapes at the bureau of Economic Analysis in washington document 50 years of americas Economic Growth. They provide access to the Accounting System known as gnp. When the United States faced its worst economic crisis, the Great Depression no such measuring tool existed until this report went to the senate. Copies of National Income, 19291932 are scarce today but back in 1934 it was very popular. 4,500 copies were sold in 8 months. The report was made by a team from the department of commerce when Congress Demanded more information. What was the Great Depression costing the American Economy . Led in part by the Auto Indu
Annenberg media august 1914. As europe goes to war, america slides deeper into still another recession, people despair and ask, why is the economy so unstable . The Business Cycle proves capitalism has failed, according to karl marx, but Joseph Schumpeter sees these cycles as proof of the glorious success of capitalism. Is either man right . 1929 is the year of collision between 19thcentury economic theory and 20thcentury economic reality. Out of the crash, John Maynard Keynes provides a new theory of the Business Cycle. What was his revolutionary idea . Boom and bust who can explain the Business Cycle . With the help of richard gill, well explore that question on this edition of economics usa. Im david schoumacher. Boom or bust . Why is the economy so unstable . Factories sit idle or stagger along because nobody has any money to spend. Workers sit home without any money to spend, hoping the economy gets better so they can work again. Its a pattern that repeats itself over and over aga
Annenberg media eeper into still another recession people despair and ask why is the economy so unstable . The Business Cycle proves capitalism has failed, according to karl marx but Joseph Schumpeter sees these cycles as proof of the glorious success of capitalism. Is either man right . 1929 is the year of collision between 19thcentury economic theory and 20thcentury economic reality. Out of the crash John Maynard Keynes provides a new theory of the Business Cycle. What was his revolutionary idea . Boom and bust who can explain the Business Cycle . With the help of richard gill, well explore that question on this edition of economics usa. Im david schoumacher. Boom or bust . Why is the economy so unstable . Factories sit idle or stagger along because nobody has any money to spend. Workers sit home without any money to spend hoping the economy gets better so they can work again. Its a pattern that repeats itself over and over again. Few people worried about trying to explain economic f