Monthly Archives: June 2012

Limitless Wants and Limited Resources—The Dilemma of Economic Thought and Policy

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Osher Lifelong Learning Institute
of the University of Oregon in Portland

White Stag Block
70 NW Couch Street  
Portland, Oregon 97209

Tuesdays, July 17–August 14, 1:00–3:00 p.m.

Session One

In session one, participants will look at the transition from nomadic, hunter/gatherer societies to agriculturally based stationary societies. Economist and educator, Richard Winters will trace the beginnings of trade and the earliest development of markets and will also examine the beginnings of government and social planning, particularly the production and storage of long-term food supplies. He will introduce the core of the current debate over economic theory and practice and identify the modes of trade as they developed, from barter, to valued goods for valued goods, to the introduction of money and the eventual use of money itself as a commodity.

Session Two

In session two, Winters will introduce the development of Nation States and the earliest incarnation of economic theory, mercantilism. He will discuss the problematic outcomes of mercantilist economics and show how those problems led to the spread of capitalism. Participants will look at the work of Adam Smith and his codification of capitalism. Winters will argue that the principle of competition, which Smith found to be the operative driver of the business cycle, has been misunderstood by modern planners and politicians and will trace and explain the market cycle and introduce the principle of division of labor. He will also describe what a market is and talk about the dangers market economies face, as Adam Smith saw them.

Session Three

In session three, Winters will talk about the reactions to, for, and against classical capitalism. He will look at the work of Malthus, Locke, Ricardo, Bentham, and Hobbes and will show how the beginnings of the Industrial Revolution changed the nature of work and led to the critique of capitalism by Karl Marx. He will discuss that critique and talk about the difficulty faced by Marxists when they try to replace capitalism without understanding the enduring power of markets. Winters will also discuss, briefly, the development of economic thought in the “Eastern World,” where social principles dominated economic policies.

Session Four 

In session four, participants will look at the earth moving change in capitalism with the development of a true, middle-class driven, consumer society. This early twentieth-century phenomenon changed economic thinking in ways that all economic systems are still trying to understand and to which they are still attempting to adjust. The centerpiece of this session will be the work of John Maynard Keynes and his attempt to rescue capitalism from its own problems and from the Marxist rebellion. In the work of Keynes and the conservative reactions to it, we will see the playing out of the core debate in Western economic theory. Participants will also see how the government’s role in stabilizing a nation’s economy has become a major area of controversy in the West.

Session Five

In session five, Winters will give an overview of the state of economic theory and practice in the world today. He will look at the problems capitalism faces in the West and at China’s attempt to graft market economic onto central planning in the East. He will also look at some of the major dangers and problems that lie ahead and at the opportunities that exist for the development of sustainable, market-driven economy for the world. Finally, Winters will argue that nations must develop a better ability to critique their own economic performance and goals without these becoming the stuff of political “spin” and the creation of fear rather than reason.

Cost: Free to OLLI-UO members; $45 for nonmembers.
Register today by calling the OLLI-UO office at
800-824-2714. 

For more information on OLLI-UO, contact the OLLI office at
503-412-3653 or visit: osher.uoregon.edu

The Battle of Saratoga

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Eugene—One week after we celebrate Independence Day, historian and educator Kay Huston returns to our classroom with another riveting series on American history. In this new series, Huston will describe the two battles fought in Saratoga in September and October of 1777.

Counted among the most decisive battles in world history by nineteenth century military historian Edward J. Creasy, these battles were critical to the Patriots cause, and the outcome encouraged France to enter the war.

Wednesdays, July 11,18, and 25, 1:30-3:30 p.m.

OLLI Book Discussion Group Selections for Fall 2012 and Winter 2013

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Bend—Although the OLLI Book Group is currently on summer hiatus, plans are underway for fall and winter terms. The first selection is Passage of Power—the Years of Lyndon Johnson by Robert A. Caro. Member Tom O’Brien will facilitate the discussions at the September 4 and 18 sessions. This acclaimed biography, the fourth volume of Caro’s masterful study of LBJ, is a substantial 712 pages in length, so start your reading now!

The following titles will be read and discussed—not necessarily in the order listed.  The reading/discussion schedule will be published in the August edition of The Oregon Sage.

  • Monkey Girl: Evolution, Education, Religion, and the Battle for America’s Soul by Edward Humes
  • In Search Of Happiness by Ashok Gulla
  • Making Our Democracy Work: A Judge’s View by Stephen Breyer
  • 1861: The Civil War Awakening by Adam Goodheart
  • The Righteous Mind- Why Good People Are Divided by Politics and Religion by Jonathan Haidt

 

Field Trip: Explore Oregon’s Volcanic Legacy

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Bend—Smith Rock, Gray Butte, Grizzly Mountain, Barnes Butte and Powell Buttes are all familiar landmarks. But what do they have in common? What enormous geological event gave rise to these and other local landmarks? View and learn about the recently designated “Crooked River Caldera” on this member-led driving tour.

OLLI-UO member Bob Clautice will lead us on this first of our 2012 series of local geological field trips on Thursday, June 21. We will car-pool on this driving tour from Prineville to Haystack Rock, and points in between, stopping at six or seven viewpoints. These stops have been chosen to provide a fantastic overview of the results of the largest single volcanic eruption known in the geological record of Oregon, comparable in size to some of the largest calderas known worldwide. And it is right here in our backyard. A detailed, illustrated description will be available to refresh your memory of the “Crooked River Caldera”.

The trip will begin at the U. S. Forest Service Office just east of Prineville with a brief introduction and distribution of information. We will then car-pool to our first stop for a great overview and discussion on calderas in general and this one in particular. We then continue through the various stops with a break for lunch. The tour should finish by late afternoon. There are minimal walking requirements, so everyone can participate.

Members from Bend and points south will meet at the Bend River Mall parking lot on Business 97 at 8:30 a.m. and head to Prineville. The Redmond and Sisters contingent will meet at 8:30 a.m. at the Redmond Cinema (at Albertson’s) on the corner of Highway 97 and Odem Medo Road in Redmond and also head to Prineville where we’ll gather at the U. S. Forest Service Office just east of Prineville at 9:00 a.m. with a brief introduction and distribution of information.

Please let us know if you can volunteer to drive; Bob suggests that passengers each pay $5 to the driver to defray the cost of the trip. We recommend you wear walking shoes and hats, and bring water, lunch, snacks, sunscreen, walking sticks, binoculars and camera.

Call the OLLI-UO office at 800-824-2714 by Monday, June 18 to reserve your spot. An activity waiver must be signed to participate in this trip.