[135] Free Banking w/George Selgin & Ann Pettifor on Boom-Bust UK Economy
Ann Pettifor
June 4, 2014
Ann Pettifor: Debtonation
Our lead story: A new report by the Hass Institute at UC Berkley reveals that a one third of all mortgaged homes in the US are still underwater. According to the report: “Among the nearly 400 hardest hit ZIP codes, there are 146 in which African-Americans and Latinos account for three-quarters of the population.” Erin takes a look.
The “Too Big to Fail” debate has a lot to do with moral hazard. If there’s no threat of failure, then big banks will only take on more risk. Erin talks to economist George Selgin about free banking, and how this concept would do away will financial regulation altogether (PLUS make the system more stable).
Then Erin checks in with Dr. Ann Pettifor on the UK economy. Madame Pettifor discusses how the UK is in the boom part of its boom-bust cycle, and she breaks down some of the credit dangers lurking as well as stagnant wage growth.
Finally in today’s Big Deal, Edward Harrison and Erin sit down to talk about Seattle’s $15 minimum wage and what Thomas Piketty had to say about it!
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2014-06-04
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