Event description. Speaker Martin Hairer has advanced the field of stochastic partial differential equations SPDEs by providing a toolkit for addressing these previously thought inaccessible problems. Hamilton Lecture In his lecture we will encounter some of the mathematical objects arising naturally in probability theory, as well as some of their surprising properties.
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Third Annual Maynard Sundman Lecture at Smithsonian
Email Address. Many readers, not realizing the Coin's Financial School was a fictional work, wrote letters to Gage, Laughlin, and others inquiring about the lectures. He suggests that the effects of demonetization would become particularly burdensome when the federal government began resuming specie payments expected within the next several years on a gold standard. The second lecture addresses the question of how a government-mandated ratio of the value of monetary gold to monetary silver could remain stable when the demand for gold and silver constantly fluctuated.
Coin argues that the unlimited demand for silver and gold at the established ratio ensured that fluctuations in demand for nonmonetary silver and gold would be reflected in adjustments in the quantity of monetary silver and the quantity of monetary gold but not in the of the value of the two metals. Bimetallism is therefore stabilized by the unlimited demand for silver at the established price. The third and fourth lectures cover the history of bimetallism in the United States and the emergence of the Latin Monetary Union in Europe. The fifth lecture reviews the quantity theory of money, which establishes a proportional relationship between the amount of money in an economy and the price level.
What Does the Future of Money Look Like? Papers Accepted for ANA Sundman Lecture Series
In this lecture, Coin emphasizes the impact that the demonetization of silver has on real debt burdens. Because the values of debt burdens are fixed in nominal terms, Coin argues that an increase in the value of money precipitated by a reduction in the money supply increases the burden of a given level of debt.
The sixth and final lecture outlines Coin's plan for the independent free coinage of silver.
Related The Last COIN Lecture
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