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Design Defects and Policy Failures: An Institutional Analysis of the Eurozone Crisis

Start/End Friday, October 05, 2012 06:15 PM EDT -- 08:30 PM EDT
Location Name JG 104

The aim of the Modern Money and Public Purpose seminar series is to dispel commonly held economic myths about money, macroeconomics and government financing, and to outline an alternative progressive paradigm grounded in the legal and institutional realities of the global monetary system. In addition of the obvious relevance of macroeconomics to the ongoing global economic crisis, the series aims to address the fundamental economic problem of full employment in the context of economic rights and long-term sustainable development. The speakers come from a diverse set of fields (including History, Law, Finance, Economics, Social Work, Criminology and Systems Theory) but share an understanding of what money is, how it works, and how flaws in the legal structure of the monetary system are contribute to systemic and day-to-day economic problems including unemployment, excessive student debt and stagnating real wages.

This seminar offers a diagnosis of the current European debt crisis that traces its origins to inherent flaws in the legal and institutional design of the Eurozone. Questions to be addressed include:

- Is the European Monetary Union responsible for the current Eurozone crisis?
- What role have core nations such as Germany and France played in the crisis, compared to peripheral nations such as Spain and Greece?
- What are the political and economic implications of austerity?
- What policies should Europe adopt to resolve this crisis?

Contact: Rohan Grey, rlg2143@columbia.edu