In his sixth book, award-winning economist and UCLA professor, Roger E. A. Farmer traces the swings between classical and Keynesian economics since the early twentieth century, gracefully explaining the elements of both theories. During the Great Depression, Keynes challenged the longstanding idea that an economy was a self-correcting mechanism; but his school gave way to a resurgence of classical economics in the 1970s--a rise that ended with the current crisis.
Professor Farmer, a contributor to both the Financial Times Economists' Forum and a research associate of the National Bureau of Economic Research discusses the challenge to correct the excesses of a free-market economy without stifling entrepreneurship and instituting central planning.
Session will be held on lower level at SIBL in Healy Hall. This program will be filmed.