Last week (April 24), I schlepped to Virginia Tech to deliver a talk on “Our Colossal Debt Versus the Constitution,” as part of the Virginia Tech Pamplin College of Business BB&T Speakers Series on Capitalism. Previous speakers include John Allison (formerly BB&T’s Chairman and CEO, who initiated this program); James M. Buchanan; and Robert Samuelson. What I’m doing in that company and in front of a large crowd of finance guys, I don’t really know; but I greatly enjoyed the event.
The slightly abbreviated text appears below, with apologies for the inordinate length of this post. Faithful followers of this blog will find little new. But it’s a convenient summary of points made earlier on this blog and elsewhere, and maybe there’s a fresh thought here or there.