In this debate, both sides oppose the creation/existence of a central bank (in America, the Federal Reserve system), and both sides place substantial blame on the Fed for creating the financial bubble that imploded in 2008. But given the existence of the Fed, and given the nature of the financial crisis beginning in 2008, did Fed chairman Ben Bernanke do the right thing in pursuing a policy of reflating the nation’s money supply and shoring up the balance sheets of national (and international) financial institutions? This debate will also shed light on the legacy of the late Dr. Milton Friedman, on the occasion of what would have been his 100th birthday. After 1981, Dr. Friedman became convinced that a central bank was not necessary, and advocated a free-market financial system (“free banking”). But Bernanke has cited Dr. Friedman’s groundbreaking early monetary research as an authority in developing his case for reflation in response to the recent financial crisis. Please join us for an educational and entertaining debate. Our goal is to present the issues and viewpoints so that they are accessible to intelligent laypersons of all ages, and we will make room for audience Q&A.
Light hors d’oeuvres and beverages to be served.