July 17, 2012
Invitation: Quadrant dinner, Wednesday, August 15
Peter Smith on Bad Economics and the causes and resolution of the current crisis
Bad economics is arguably the greatest threat to the survival of Western civilization. The economic mess of debt and stagnation is increasingly polarising politics and dividing societies. The woe engulfing Greece is looming elsewhere in Europe and in the United States. Riots in city streets may be a foretaste of civil unrest of convulsive proportions.
Why are Western economies in a mess and how can they be fixed before it is too late?
In his new book Bad Economics, Peter Smith shines the light of good economics on the unfolding economic drama. He pinpoints the root of the problem to the destructive alliance between Roosevelt’s New Deal in America in the 1930s and the simplistic economics of John Maynard Keynes. A stubborn clinging to Keynesian economic quackery remains the “common-sense-destroying virus infecting the public debate.” He proposes a grand bargain between conservatives and those on the industrial left as a way to begin finding a lasting fix for Western economies.
Peter Smith is a frequent contributor to Quadrant Magazine and Quadrant Online. He is former CEO of Australian Payments Clearing Association; chief economist of the State Bank Victoria; and economic advisor to the Australian Bankers’ Association. He has a first class honours degree and a PhD in economics.
Venue: Union, University and Schools Club, 25 Bent Street, Sydney
Date and time: Wednesday, August 15, 2012. Drinks 6pm-7pm; dinner from 7pm.
Dress: Jacket and tie for men.
Parking: Valet parking at Sofitel Wentworth Hotel, Bligh Street entrance.
Cost: $74 per person. Pre-dinner drinks and table wine are extra, per consumption.
Mail: Please make Cheque/Money orders payable to Quadrant, and send to Quadrant Magazine, Locked Bag 1235, North Melbourne VIC 3051.
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The Quadrant Book of Poetry: 2001 - 2010
edited by Les Murray