The Libertarian Alliance, London


Lessons from the Financial Crisis: A Libertarian Perspective
Professor Kevin Dowd
Economic Notes No. 111
ISSN 0267-7164                   ISBN
An occasional publication of the Libertarian Alliance,
Suite 35, 2 Lansdowne Row, Mayfair, London W1J 6HL.
© 2009: Libertarian Alliance; Kevin Dowd
This article is an expanded version of the Second Chris R. Tame Memorial Lecture delivered by Professor Dowd at the National Liberal Club, London, March 17th 2009. A recording of the original Lecture, with an introduction by Dr Tim Evans, President of the Libertarian Alliance, can be found at http://video.google.co.uk/videoplay?docid=2495820480786986515.

The views expressed in this publication are those of its author, and not necessarily those of the Libertarian Alliance, its Committee, Advisory Council or subscribers.


Good evening everyone.  I would like to start by thanking my friends at the Libertarian Alliance for inviting me to give this lecture.  It�s good to see so many other friends here as well.  I would like to thank you all for coming….[more]


  1. A good lecture. Just considering the rate of inflation since the seventies and eighties, I’ll quote an appendix from some statistical course materials I’m currently going through;

    “The sum 5p may seem very small and prompt the question why change might be required for such a small sum. At the time the experiment was carried out (1981), a local telephone call could be made from a public telephone box for as little as 2p.”

    Today it costs a minimum of 20p, which constitutes a ten-fold rate of inflation. What was the standard of living really like in 1981? I can’t seem to remember, having not been born. But surely it couldn’t have been ten-fold worse than today’s standard of living.

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