Americans for Prosperity Foundation and the Milton and Rose Friedman Foundation Presents "Was Bernanke Right? Chicago vs. Vienna"--A Debate on Monetary Policy Honoring the 100th Birthday of Milton Friedman

Phoenix, AZ

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Event Details

Was Bernanke Right? Find out on July 31st.

Hosts: Americans for Prosperity Foundation and the Milton and Rose Friedman Foundation

Moderator: Tom Jenney, Arizona Director--Americans for Prosperity Foundation

Panelists: Economist Joe Cobb (representing Chicago) and author Charles Goyette (representing Vienna).

Date: July 31st, 2012

Time: Reception--6:00pm

          Debate--6:30pm to 8:00pm

Location: McClelland Auditorium at Goldwater Institute

                500 E. Coronado Road Phoenix, AZ 85004


There is no charge for this event. Light hors d'oeuvres and beverages will be served. Please RSVP by July 27th to


In this debate, both sides will oppose the initial creation/existance of a central bank (the Federal Reserve system in the United States). Both sides will also place substantial blame on the Fed for creating the financial bubble that imploded in 2008. The debate will center on the argumenet over whether, given the existance of Fed and the nature of the financial crisis, Chairman Ben Bernanke did the right thing by pursuing a policy of reflating the nation's money supply and shoring up the balance sheets of national (and international) financial institutions.


Representing the Chicago side, and providing a more favorable perspective on Bernanke's actions, will be Chicago-trained economist Joe Cobb. He received his degree in economics at the famous school, where he was also the editor of the New Individualist Review. Its faculty advisors were the economists F.A. Hayek, Milton Friedman, and George J. Stigler. In the early 1990s, Joe served as the John M. Olin Senior Fellow in Economics at the Heritage Foundation, the chief economist for the U.S. Senate Republican Policy Committee, and as the Staff Director of the Congressional Joint Economic Committee. Prior to these posts, he also served as an economic advisor with the State Departments U.S. Mission to the O.A.S. and Deputy Director in the Reagan White House Office of Policy Information. He is a past president of the National Association of Business Economists and has taught economics for a number of years at numerous universities. Joe is an expert on the income tax and has testified multiple times before the powerful U.S. House Ways and Means Committee.


Representing the position of the Austrian economists, and arguing in the strong negative, will be noted author and political commentator Charles Goyette. He is especially known for his outspoken libertarian views on the economy and foreign policy. He is the author of the New York Times bestselling book The Dollar Meltdown: Surviving the Impending Currency Crisis with Gold, Oil, and Other Unconventional Investments, which recieved positive reviews from U.S Congressman Ron Paul and investor Peter Schiff. Charles formerly hosted talk shows for multiple stations in Phoenix, Arizona and was named "Best Phoenix Talk Show Host" in 2003 by the Phoenix New Times. He has years of experience as a financial professional in the commodities, securities, and currency markets.He has also frequently been a commentator on FOX News, CNN, MSNBC, PBS, and CNBC. His new book is Red and Blue and Broke All Over: Restoring America's Free Economy.


This debate will also honor the legacy of the late Dr. Milton Friedman, the longtime leader of the Chicago School of Economics, on the occasion of what would have been his 100th birthday. After 1981, Friedman became convinced that a central bank was not necessary and advocated a free-market banking system ("free banking"). But Bernanke has cited Dr. Friedman's groundbreaking early research on monetary policy as an authority in developing his case for reflation in response to the recent financial crisis.


Please join the Americans for Prosperity Foundation for an engaging and exciting debate!