 Hello everyone forgive me for taking a few minutes out of your busy day But I just want to make you aware of my upcoming Mises Academy class on Keynes Krugman and the crisis And this course is going to be eight weeks long the first week. We're going to study the thought of the Pre-Keynesian economists in other words the economics that prevailed before the general theory came out so what we're going to look at in particular is the famous section from JB Sey's work on what's now referred to as Sey's law and we'll see the sense in which Sey meant that Principle and we'll see if Keynes really dealt with that adequately And then we'll also look at a selection from Lionel Robbins book on the Great Depression that came out in 1934 okay, and so we'll see Exactly what the state of the art in terms of free market economists thought about the Great Depression before Keynes came along Then the next two weeks, we're going to look at selections from the general theory itself And I should stress you don't need to actually buy these things are going to be available online So you don't need to order anything if you don't want to and we will be reading it though in the original and So you can see Keynes talk about his system in his own words We're going to focus on the famous buzzwords that I'm sure you've heard about you animal spirits and the socialization of investment And yeah, didn't he in one of the prefaces talk about how the the Nazi German state was more conducive to his system Than a liberal state would be and yeah, we're going to go over all that stuff But the point's not going to be to demonize Keynes. It's going to be to understand exactly how his system worked Okay, we're going to go through that and then we're going to look at Hayek and see what's his response to Keynes okay, so It's not going to be a full in-depth treatment of Austrian economics It's going to be more things you may never have read before interviews that Hayek gave where he talks about Keynes selections from Tugger by the tail, which is largely just scattered remarks that Hayek made into various places collected in one spot talking about the Keynesian system All right, so and also we're going to look at the letters that Keynes and his followers and then Hayek and his Allies wrote to the Times in London in 1932 to you know giving their different views as to what should happen to get rid of get out of the crisis Then the last section of the course as the name suggests is going to be talking about Paul Krugman My of course favorite living economist and there we're just going to go through relying on his Blog entries and also some of his columns for the New York Times going through first of all we're going to look at Krugman's treatment of the situation in Japan Right the the the lost decade as it's called in Japan and see what Krugman's recommendations were for them we're going to look at Krugman's notorious calls for the creation of a housing bubble and we're going to refer read the dispute because Krugman now claims Hey, I never said that they should have a housing bubble I was just making an analysis of an economist and so we'll go and look at that and look at various things He said and wrote over the years to see is it really true that back then Krugman Was or was not claiming that they're the Fed ought to be trying to engineer a housing bubble and then The last thing of course is his recommendations for what the US government the Federal Reserve should be doing now Given that we're in what he thinks is a liquidity trap. All right, so throughout all this material I'm going to of course always present it try to do it fairly try to make you think like Keynes or think like Krugman So you know what the worldview is but then of course present the Austrian response to that particular viewpoint So again, the class starts at the end of June. It's an eight-week class. It's 145 dollars. It's a it's a steal Right, you're not going to be stimulating many expenditures by taking this class But the point is of course to equip those of you who are fans of the Austrian school with a better knowledge of What we consider to be the enemy as it were right that it's important to understand how Keynesians think and this is going to be a Course where we get hip deep into it and read Keynes in the original read Krugman's Work in his own words and then try to provide a systematic response So I hope many of you can join us. We'll see you in a few weeks. Thanks