John Cochrane from the University of CHicago presents the 2012 John Condlliffe Lecture "Sovereign Debt". Prof Cochrane presents a lively and very informative...yet sobering ..... look at the problems of historic massively excessive public sector debt (accumulated, current, and potential future) in the US and Europe. He discusses three main types of solutions (growth, increases in tax rates, fiscal stimulus) , and their likely ability to deal with the problem. My (JF) take home message form this talk was that the magnitude of the sovereign debt is so enormous and prospects for growth - or sensible policy - to rescue sovereign nations spending beyond their means so bad (vastly exceeding in real terms post WW2 debt levels without the post war growth to climb our way out of it) that ...well I'm just glad I live in New Zealand ...small may be beautiful if a global implosion comes form mis managing the debt of important sovereign nations!

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Seminars in Economics

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Webcasts (screen capture and coordinated audio) of seminars from the Friday seminar series at the Econ Dept, University of Canterbury, New Zealand. Also available on our youtube proudlydismal channel.
John Fountain

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