On June 17, 2014, Sr. Fellow Lawrence McQuillan spoke at an event for supporters of the Independent Institute. Dr. McQuillan spoke about Californias state pension system, a topic he writes about frequently, including in his forthcoming book California Dreamin: Resolving the Public Pension Crisis.
First he defines the types of pension programs for state employees, he outlined how funding for the programs is not sustainable for the promises made to pension recipients. The state admits to an unfunded liability of $140 billion, but McQuillan says that is actually an underestimate. According to most economists, the true amount of the unfunded liability is $430 billion.
How did this happen? McQuillan explains and offers six solutions to keep the pension systems solvent.
Friedrich A. Hayek (1899-1992) left such a profound mark on economic and political thought that The New Yorker has called the 20th century, "The Hayek Century." After converting to free-market capitalism and classical liberalism in the 1920s, Hayek became one of socialism's and statism's staunchest critics. His 1944 bestseller, The Road to Serfdom, warned of central government planning's authoritarian, and even totalitarian, tendencies- and helped reignite worldwide interest in the philosophy and practice of freedom. Although Hayek's 1974 Nobel Prize in Economic Science brought renewed interest in his ideas, it wasn't until the collapse of the Soviet Bloc (which Hayek predicted) that his vast writings on economics, political philosophy, law, history, culture, and other fields became broadly recognized as essential to achieve a prosperous, humane and free society. Biographer Alan Ebenstein and economist Charles Baird shed light on Hayek's seminal legacy and the rebirth of freedom.
Co-sponsored by the Independent Institute and Koch Crime Commission
University Theater, Garvey Fine Arts Center
Washburn University, Topeka, KS
Arthur R. Miller, Professor of Law, Harvard University
Bruce L. Benson, Professor of Economics, Florida State University; Senior Fellow, The Independent Institute
Erika Holzer, bestselling author of book and major motion picture, Eye for an Eye
Wendy Kaminer, Contributing Editor, The Atlantic Monthly
William I. Koch, Chairman, Koch Crime Commission
Alan J. Lizotte, Director, Hindelang Criminal Justice Research Center, University at Albany
David B. Sentelle, Judge, U. S. Court of Appeals, D.C. Circuit
David J. Theroux, Founder and President, The Independent Institute
Richard L. Thornburgh, former U.S. Attorney General
Hubert Williams, President, Police Foundation
Marvin E. Wolfgang, Director, Sellin Center for Studies in Criminology, University of Pennsylvania
James R. Wyrsch, President, Wyrsch Hobbs Mirakian & Lee, P.C.
Violent crime continues to be a major social and economic problem in the United States and around the world. This important debate, held before an audience of 1,000 at Washburn University, features a panel of experts from diverse backgrounds and perspectives, including criminal justice officials, business and civic leaders, scholars, and best-selling authors.
In a lively and challenging exchange of ideas, the program addresses why the criminal justice system has become increasingly bureaucratized and politicized, ever less responsive and ever more costly. Topics include victims rights, crime and incarceration rates, restitution, civil liberties, illicit drugs, guns, racism, policing, privatization, and sentencing.
Co-sponsored by The Independent Institute and Koch Crime Commission, this program was distributed by Central Educational Network and appeared on the Public Broadcasting System.