Examining the Global Financial Crisis – Hobart and William Smith Colleges \
The HWS Update

Examining the Global Financial Crisis

The Economics Department will host a workshop on the 2007-2008 global financial crisis, featuring economics scholars Warren Mosler and L. Randall Wray.

Chaired by HWS Assistant Professor of Economics Felipe Rezende, the workshop will begin at 7 p.m. on Thursday, March 29, in the Vandervort Room of the Scandling Campus Center.

“Mosler and Wray, who have written extensively on the issues surrounding the Global Financial Crisis of 2007-2008, will provide insights on why economic crises are becoming more frequent and severe and explore the social costs of the crisis and the social and economic importance of achieving full employment,” says Rezende

The workshop speakers will explore the factors that contributed to the global financial crisis of 2007-2008, the European currency crisis, and their public policy implications. They will also discuss the broader social, political and economic implications of the financial crisis in the United States and other developed economies.

“The HWS and Geneva communities will have the opportunity to understand key current issues such as why economic crises are becoming more frequent and severe and the social and economic importance of achieving full employment,” explains Rezende.

Mosler is president of the Valance Company, a financial research services firm providing analysis and assessment of major global economies to institutional clients worldwide. He is also principal and founder of AVM, a financial services institution. Mosler is one of the original pioneers of modern derivatives trading, having developed numerous strategies utilizing U.S. government securities, mortgage-backed securities, and financial futures markets. He is a senior associate fellow at the Cambridge Centre for Economic and Public Policy, and a distinguished research associate and co-founder at the Center for Full Employment and Price Stability. Mosler is an active public speaker, and has published numerous articles on investment strategies that have shaped the practices of some of Wall Street’s most powerful firms. He is chair of Consulier Engineering and a director and major shareholder of Enterprise National Bank. He has run for multiple public offices, and has been a founder or partner of over a dozen other companies, including two multibillion-dollar hedge funds and Mosler Automotive, one of the world’s superior producers of supercars. Mosler is one of the principals of Modern Monetary Theory. He is the author of “Seven Deadly Innocent Frauds of Economic Policy.”

Wray is a professor of economics at University of Missouri-Kansas City as well as research director at Center for Full Employment and Public Policy, and is a senior scholar at the Levy Economics Institute of Bard College. A student of Hyman P. Minsky while attending Washington University, Wray has focused on monetary theory and policy, macroeconomics, financial instability, and employment policy. He has been published widely in journals and is the author of “Understanding Modern Money: The Key to Full Employment and Price Stability” and “Money and Credit in Capitalist Economies.” He is the editor of “Credit and State Theories of Money” and the co-editor of “Contemporary Post Keynesian Analysis,” “Money, Financial Instability and Stabilization Policy,” and “Keynes for the Twenty-First Century: The Continuing Relevance of The General Theory.” Wray is also the author of numerous scholarly articles in edited books and academic journals, including the Journal of Economic Issues, Cambridge Journal of Economics, Review of Political Economy, Journal of Post Keynesian Economics, Economic and Labour Relations Review, Economie Appliquée, and the Eastern Economic Journal. Wray received a B.A. from the University of the Pacific and an M.A. and Ph.D. from Washington University in St. Louis. He has served as a visiting professor at the University of Rome, the University of Paris, and UNAM-Mexico City. He was a Professor at the University of Missouri, Kansas City. Wray is a principal of Modern Monetary Theory.

Sponsored by the Department of Economics, Public Policy Program, the Office of the Provost, the Hobart Dean’s Office and the William Smith Dean’s Office, the event is open to faculty, staff, students, and interested community members.