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Greve Lectures as Part of BB&T Speakers Series on Capitalism

On April 24, Professor Michael Greve visited Blacksburg, Virginia, to deliver a talk on "Our Colossal Debt Versus the Constitution." The event was part of the Virginia Tech Pamplin College of Business BB&T Speakers Series on Capitalism. 

In his lecture, Greve examined aspects of the public debt and the Constitution, concluding that, "We will have to re-think the wisdom of an Executive Government that operates effectively without judicial or legislative constraint, purely by dealmaking. We will argue about a nominally independent central bank that fine-tunes not only the currency but also the stock markets, and which bankrolls a dissolute government and in the process expropriates fixed-income investors. And we will re-examine and hopefully reform a federal system that fosters fiscal illusions and excess spending at all levels of government."

"In a sentence: our debts problems will become constitutional problems. They always have been," Greve noted.

The BB&T lecture series is part of a Pamplin College teaching program to explore the foundations of capitalism and freedom. The program’s courses, undergraduate and graduate, examine alternative economic systems, including socialism and communism, and compare them with the economic solutions offered by free markets. Previous BB&T speakers include retired BB&T chairman and CEO John A. Allison, veteran financial journalist John Berry, Greg Ip of The Economist, Nobel Laureate James M. Buchanan, and Pamplin alumnus and Forbes newsletter editor Vahan Janjigian.

Read the text of Greve's remarks