Money Creation in the Modern Economy
Switzerland is the most prominent semi-direct democracy today, with regularly occurring, publicly initiated and then binding referenda. In 2018, a referendum will be held to change the national constitution mandating a change in the monetary/banking system into a Chicago-Plan Style (Vollgeld). Although this has been studied for decades, no jurisdiction has yet taken action. The purpose of the conference is to examine this topic from all viewpoints and create a discussion among global experts as to the impact of this change in today’s economic environment.
- How is money created in the general economy today?
- Have the measures introduced since the global crash of 2007/2008 stabilized our banking system?
- Why are debt levels increasing exponentially?
- How has the structural monetary/banking system fundamentally changed over the last 50 years?
- What are the social ramifications of this fundamental change?
- Is a radical rethinking of our system feasible or is it only a pipe dream?
Registration and Welcome Coffee
Conference Introduction and Overview
Uli Kortsch, Author, Economist and Expert on Monetary Policy
Who’s in charge? Complexity, trust, hierarchy and networks
David Bosshart, CEO, Gottlieb Duttweiler Institute (GDI)
Panel Introduction: The Current Monetary System
- Today’s source of money creation
Richard Werner, Chair in International Banking, University of Southampton, England
- Banking instability due to investment structures and history of banking runs
Larry Kotlikoff, Professor of Economics, Boston University, former Snr. Economist, President’s Council of Economic Advisers, USA
- Banking stabilization efforts: Basel III, Dodd-Frank, …
William White, former Chief Economist, Bank for International Settlements, Basel, Switzerland
- Role of central banks: including QE, negative interest rates, …
William Dunkelberg, Chief Economist, National Federation of Independent Business, former Chair, Economics Dept., Temple University, Philadelphia, USA
Panel: The Current Monetary System
with Richard Werner, Larry Kotlikoff, William White, William Dunkelberg
moderated by Uli Kortsch
Overview of Current Global Situation
Martin Wolf, Chief Economic Commentator, Financial Times
Panel: The Chicago Plan (Vollgeld): YES
- Referendum overview
Sergio Rossi, Chair of Macroeconomics and Monetary Economics, University of Fribourg, Switzerland
Joseph Huber, Chair of Economic and Environmental Sociology, Martin Luther University, Germany
- Social results
Katharina Serafimova, Lecturer at the University of Zurich, Institute of Banking and Finance, Switzerland
Panel: The Chicago Plan (Vollgeld): NO
- Practitioner’s Outlook – Jürg Müller, Economics editor, Neue Zürcher Zeitung, Switzerland
- Academic’s Outlook – Aleksander Berentsen, Professor of Economic Theory, University of Basel, Switzerland
- Politician’s Outlook –Ruedi Noser, Member of the Council of States, Switzerland
Panel of all speakers for an open discussion
Shuttle to Thalwil Railway Station
Language German/French/English (simultaneous interpretation)