Henry George School of Social Science Calendar

Money Movements across the Globe – Causes and Consequences

Since 1945 trade and investment between nations has expanded rapidly. Yet despite the high quality of its workforce, vast amounts of natural resources, and tremendous amounts of physical capital, the United States persistently buys more from other countries than it sells to them. Politicians periodically accuse other nations of manipulating exchange rates to favor their exports, while ignoring (or pretending to ignore) the fact that the value of the US Dollar, once convertible into gold, has eroded over time.

In this class Allen Smith charts the growth of global trade, explains its accounting, and studies the money flows between nations. Allen analyzes the structural changes that took place in the US monetary system and the impact of the purchasing power of the US Dollar on the US trade deficit.

We kindly ask students to do some research and come prepared to discuss these topics:

• January 29: The Foreign Exchange Market—What are consequences of floating exchange rates?
• February 5: Do Trade Deficits Matter?
• February 12: US Dollar as World Reserve Currency—For how much longer? What are consequences if this changes?

Note: This seminar is open to all, but priority will be given to students who have taken the course on Money and Banking.

In October 2017 Governor Cuomo established the FIX NYC Advisory Panel to recommend actions to reduce traffic congestion in Manhattan and to identify sources of revenue for public transit. The Panel’s recommendations, published this month, include imposing charges on vehicles entering the Central Business District of Manhattan, a “congestion charge”.

The Panel’s recommendations impact all New Yorkers.

Tonight Dr. Marty Rowland and guests review the case for congestion pricing in New York City. The speakers will consider alternative methods to provide a stable, long-term source of finance for public transit, while ensuring that public expenditure is for public benefit.

Marty Rowland studied economics under Daniel W. Bromley, emeritus professor of applied economics at the University of Wisconsin at Madison, and used the theories of Elinor Ostrom (2010 Nobel Prize Economist) on common pool resource management systems. A Georgist since his arrival in NYC in 2009, Marty is active in presenting his ideas, most recently at the John Jay College’s Left Forum. Marty is a licensed professional engineer, Certified Passive House Designer, and designer of permaculture systems.