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Lecture Series "Financial crises: in a free market economy, how much regulation is too much?"

During the spring semester 2009, the Max Schmidheiny Foundation – in co-operation with the Max Schmidheiny Foundation Professorship for Entrepreneurship and Risk and the International Students’ Committee (ISC) – held a lecture series on the topic "Financial crises: in a free market economy, how much regulation is too much?" at the University of St. Gallen.
Seeing how the various players in the financial markets interacted, this series of lectures addressed the question as to the “correct” – or optimum – regulatory regime for the financial markets. The crisis 2007-2009 revealed a history of misregulation or inadequate supervision. But what are the fundamental implications for regulatory policy in a free market economy, a system that over past decades has appeared to deliver unprecedented prosperity? In the course of the semester, the lecturers taking part in the series presented the views of the financial services industry, central banks, regulatory bodies and the academic community.

In light of the turmoil in financial markets and rampant uncertainty throughout the global economy that prevailed at the beginning of 2009, fundamental premises of a free market order were increasingly put into question. In this situation, the Max Schmidheiny Foundation intended to contribute to a more substantiated public debate on these issues concerning some of the very foundations of free societies.
Programme of the lecture series:

Dr. Konrad Hummler, Managing Partner, Wegelin & Co. Private Bankers
Public Lecture (in German)
Thursday, 19 February 2009
University of St. Gallen

Malcolm D. Knight, Vice Chairman, Deutsche Bank AG, former General Manager, Bank for International Settlements
Public Lecture "Can We Establish General Principles to Guide Reform of the Global Architecture of Financial Regulation?"
Wednesday, 11 March 2009
University of St. Gallen

Leonhard Fischer, Chief Executive Officer, RHJ International SA
Public Lecture
Wednesday, 25 March 2009
University of St. Gallen

Prof. Dr. Martin Hellwig, Director, Max Planck Institute for Research on Collective Goods, Bonn
Public Lecture "Systemic Risk in the Financial Sector: the Crisis of 2007/08"
Thursday, 30 April 2009
University of St. Gallen

Prof. Geoffrey P. Miller, Director, Center for the Study of Central Banks and Financial Institutions, New York University School of Law, and in spring semester of 2009 Max Schmidheiny Visiting Professor for Entrepreneurship and Risk at the University of St. Gallen
Public Lecture "Willful blindness or tunnel vision: governance failures and the financial crisis of 2008"
Thursday, 14 May 2009
University of St. Gallen