Steve Hanke Lecture on Money, Banking and Markets
A Postmortem on the Policy Blunders that Caused and Extended the Great Recession.
According to Prof. Hanke's diagnosis, monetary policy in the U.S. since 2002 has been, for the most part, massively pro-cyclical. In consequence, the U.S. went from a bubble, to a popped bubble, to a great recession. If that wasn't enough, Prof. Hanke argues that the official narrative about the fall of Lehman Brothers is false. The Fed had the authority to rescue Lehman but in a panicked political mode failed to do so. The resulting damages were huge.
Prof. Dr. Steve H. Hanke has been awarded the honorary doctorate degree by the the University of Liechtenstein in June 2018. Dr. Hanke is Professor of Applied Economics and co-director of the Institute for Applied Economics, Global Health, and the Study of Business Enterprise at Johns Hopkins University in Baltimore. Prof. Hanke served on President Reagan’s Council of Economic Advisers, has been an adviser to five foreign heads of state and five foreign cabinet ministers, and held a cabinet-level rank in both Lithuania and Montenegro. He has been awarded six honorary doctorate degrees, and is an Honorary Professor at three foreign universities. He was President of Toronto Trust Argentina in Buenos Aires in 1995, when it was the world’s best-performing mutual fund. In 1998, he was named one of the twenty-five most influential people in the world by World Trade Magazine.