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SUMMARY:Safeguarding the future: families\, education\, and contract - Avn
 er Offer\, Chichele Professor of Economic History (Oxford)
DTSTART:20181107T170000Z
DTEND:20181107T180000Z
UID:TALK112486@talks.cam.ac.uk
CONTACT:Amy Erickson
DESCRIPTION:This is the third lecture in a series of four.\n\nThe future w
 ill be present one day and needs to be cared for. Who will do it and how? 
 Prevailing interest rates define a credit time horizon. A project that nee
 ds more time to mature cannot be undertaken by business alone. Uncertainty
  also screens off the future and needs to be offset by government.\n\nIn l
 ecture one the UK Private Finance Initiative (PFI) (1990-2050) is in harmf
 ul defiance of these norms. Housing finance appears to defy them as well b
 ut lecture two shows that the rise of home ownership (and most infrastruct
 ure investment) accords with the model. Why are children not produced for 
 profit? Raising them to maturity exceeds the patience of capitalists.\n\nL
 ecture three works out the temporal constraints on markets for education a
 nd social insurance. Credit time horizons are ethical boundaries too\, and
  lecture four shows how transgressions give rise to corruption. Overall\, 
 time horizons determine whether business or government owns the future.
LOCATION:Faculty of Law\, LG19
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