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Gresham's Law in Economics: Background to the Crisis

Professor Victoria Chick · Gresham College

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About

Sir Thomas Gresham said that "bad money drives out good". In Economics, bad theory has driven out good. This fact shaped the decisions of bankers and regulators and thus serves partly to explain the crisis that broke in 2007 and whose shadow extends to this day. This lecture will explore key areas in which Economics has chosen to take what Victoria Chick regards as the wrong path and how these developments led to changes in the institutional structure of the economy and the behaviour of its participants that made it less stable and less able to contribute to general economic well-being.

The talk

  1. Gresham's Law in Economics: Background to the Crisis 2012-03-08 · YouTube

Credits and licence

Institution
Gresham College
Speaker
Professor Victoria Chick
Year
2012
Level
For everyone
Language
English
Subjects
Economics, Business and management, Philosophy
Source
Gresham College
Licence
Educational use (Gresham College's terms), as Gresham College states it. Gresham College's terms
Attribution
Gresham College states: "We positively encourage the use of the Gresham College lecture transcripts, audio and video files for educational purposes. However, we do not allow use of Gresham College materials for commercial, personal or institutional gain."
Who can watch
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