The 80Th Anniversary Of The Great Crash Of 1929: Law, Markets, And The Role Of The State

2009 NEXUS SYMPOSIUM REFLECTION

By Joshua Partington: Editor in Chief on November 06, 2009 - Comments(0)

The 2009 Nexus Symposium is now done and behind us. As we reflect upon the discussions of the day, a couple highlights come to mind.

First Professor Pierre-Louis from the St. Thomas University Law School highlighted some very interesting points about economic downturns and the lessons that we have learned. Though her points were well supported by empirical data, I found her references to economist John Maynard Keynes most enlightening. The quote "Capitalism is the astounding belief that the most wickedest of men will do the most wickedest of things for the greatest good of everyone." As editor in chief of the Nexus Journal, if I could do it all over again, I would have put this quote in the title for the symposium. A theme which ran throughout the day focused, on the one hand, with the idea of tempering the self-interest and underhanded dealings of Wall Street wealth and Bernie Madoff¹s, and on the other, an aggressive government control over the markets which might hinder efficiency and growth. As a starting point for the day, I found that Professor Pierre-Louis' quote from Keynes to encompass that very notion.

Another highlight of the day was the final panel in which the two aforementioned views were largely debated. Professor Donald J. Kochan spoke convincingly of the dangers of over regulation. His "cautionary tale" which warned us all to "be careful what you wish for" was not without merit. He was followed by Dr. Tom Reifer, who took the other side of the coin. Dr. Reifer pointed to the fact that, as we embark on a new era of financial regulation, theoretical frameworks and not nearly as important as the practical considerations and effects which accompany them.

I would like to thank everyone who attended this year¹s symposium and invite any of you who did not to view the webcast online. You can find a link under Webcast on the Chapman University School of Law homepage.

Tags: Keynes markets self interest Wall Street
Similar Entries: Dow Jones Index Warrants Examination Regulating Executive Pay The Rise and Fall of Artificial Wealth Dow Breaks 10,000 (again), Wall Street Pays Huge Bonuses (again)

COMMENTS

Be the first to comment!

You must sign in before you can comment.