Tonight's City of Chicago edition of Public Affairs features Sam Peltzman, Professor of Economics, Emeritus, UChicago Booth Business School. The program airs throughout the City at 8:30 pm and midnight, Cable Ch. 21 [CAN TV].
You can also watch the program 24/7 by clicking here.
Professor Peltzman debates and discusses with show host Jeff Berkowitz how the Federal Reserve Chairman in 2008, Ben Bernanke, prevented a credit crisis (caused by improper government incentives) from turning into a monetary implosion.
Unfortunately, the Fed Chairman did a number of other things, e.g. executing programs and policies that mandated government allocation of credit, which slowed economic growth significantly.
Same with President Obama and his economic stimulus and other regulatory programs that helped make the U. S. economic recovery the least robust in post World War II U. S. economic history.
As Milton Friedman, the most prominent and impactful economist of the 20th Century, was fond of saying, "If you trace any social problem problem far enough, you will find Government at the other end."
Also discussed tonight is school choice, which Professor Peltzman praised as a vehicle to make the government monopoly in education much more competitive and innovative.