ÐÓ°ÉÂÛ̳

Against the Consensus: Reflections on the Great Recession, by Justin Lin

Monday 24 June 2013, 6:30-8:00 pm
Old Theatre, Old Building

Hosted by the Department

This event marks the publication of Professor Lin's new book Against the Consensus: Reflections on the Great Recession. In June 2008, Justin Yifu Lin was appointed Chief Economist of the World Bank, right before the eruption of the worst global financial and economic crisis since the Great Depression. Drawing on experience from his privileged position, Lin offers unique reflections on the cause of the crisis, why it was so serious and widespread, and its likely evolution. Arguing that conventional theories provide inadequate solutions, he proposes new initiatives for achieving global stability and avoiding the recurrence of similar crises in the future. He suggests that the crisis and the global imbalances both originated with the excess liquidity created by US financial deregulation and loose monetary policy, and recommends the creation of a global Marshall Plan and a new supranational global reserve currency. This thought-provoking book will appeal to academics, graduate students, policy makers, and anyone interested in the global economy. Justin’s other recent books include Demystifying the Chinese Economy, Cambridge University Press, 2011.

Justin Lin is professor and honorary dean at the National School of Development at Peking University. He was the senior vice president and chief economist of the World Bank from 2008-2012. Prior to joining the Bank, Professor Lin served for 15 years as founding director and professor of the China Centre for Economic Research (CCER) at Peking University and is the author of 24 books including The Quest for Prosperity: How Developing Economies Can Take Off, New Structural Economics: A Framework for Rethinking Development and Policy, Demystifying the Chinese Economy, Benti and Changwu: Dialogues on Methodology in Economics, and Economic Development and Transition: Thought, Strategy, and Viability.

He is a member of the Standing Committee and vice chairman of the Economic Council, Chinese People’s Political Consultation Conference. He was vice chairman of the All-China Federation of Industry and Commerce. He served on several national and international committees, leading groups, and councils on development policy, technology, and environment including: Eminent Persons Council of the World Bank, International Food Policy Research Institute (IFPRI) Steering Committee, the UN Millennium Task Force on Hunger; the Eminent Persons Group of the Asian Development Bank; the National Committee on United States-China Relations; the Global Agenda Council on the International Monetary System; Reinventing Bretton Woods Committee; and the Hong Kong-U.S. Business Council. He received honorary doctoral degrees from Universite D’Auvergne, Fordham University, Nottingham University, City University of Hong Kong, London School of Economics, and Hong Kong University of Science and Technology, and is a Corresponding Fellow of the British Academy and a Fellow of the Academy of Sciences for Developing World.

Twitter Hashtag for this event: #ÐÓ°ÉÂÛ̳recession

Info: Event free and open to all with no ticket or registration required - further information from .

Recordings: ,

What should economists and policymakers learn from the financial crisis? by Ben Bernanke, Olivier Blanchard, Lawrence Summers, Alex Weber

Monday 25 March 2013, 5:15-7:00pm
ÐÓ°ÉÂÛ̳ campus, venue tbc to ticketholders

Hosted by the Department & STICERD in association with the Bank of England

Five years on, the global economy continues to come to terms with the impact of the financial crisis. This event examines the lessons that both economists and policymakers should learn in order to lessen the chance of future crises.

Ben S Bernanke was sworn in on February 1, 2006, as chairman and a member of the board of governors of the Federal Reserve System. Before his appointment as chairman, Dr. Bernanke was chairman of the President's Council of Economic Advisers, from June 2005 to January 2006.

Olivier Blanchard is economic counsellor and director, Research Department at the International Monetary Fund. After obtaining his Ph.D in economics at the Massachusetts Institute of Technology in 1977, he taught at Harvard University, returning to MIT in 1982, where he has been since where he holds the post of Class of 1941 Professor of Economics. 

Lawrence H Summers is President Emeritus of Harvard University. During the past two decades he has served in a series of senior policy positions, including vice president of development economics and chief economist of the World Bank, undersecretary of the Treasury for International Affairs, director of the National Economic Council for the Obama administration from 2009 to 2011, and secretary of the treasury of the United States, from 1999 to 2001. He is currently the Charles W. Eliot University Professor at Harvard University.

Axel A Weber is visiting professor of economics at the University of Chicago Booth School of Business, former president of the Deutsche Bundesbank and current chairman of the board of UBS.

Professor Sir Mervyn King is governor of the Bank of England. Before joining the Bank he was professor of economics at the ÐÓ°ÉÂÛ̳, and a founder of the Financial Markets Group.

Twitter Hashtag for this event: #financialcrisis

Further information about ticket information and the returns queue is available in the ÐÓ°ÉÂÛ̳ page.

ÐÓ°ÉÂÛ̳ Space for Thought Literary Festival 2013: Branching Out - Tim Besley among the speakers

The programme for ÐÓ°ÉÂÛ̳'s fifth Literary Festival, which will be taking place from Thursday 26 February to Sunday 2 March 2013, has been announced.

In 2013, the Festival will explore the theme Branching Out, in celebration of the fifth anniversary traditionally marked by wood, but also in homage to the 300th anniversary of the birth of Denis Diderot, who developed the figurative system of branches of human knowledge.

Key 'branches' that will be explored include Narratives, Innovation, Changing World and Uniting the Branches of Knowledge. Speakers will include Hans Rosling, P D James, Kate Mosse, Professor Lord Hennessey, Anne Applebaum, Ken Livingstone, John Gray, Jenny Uglow, Will Hutton, Polly Toynbee, Michael Wood, Pat Barker and many more.

Professor Tim Besley, School Professor of Economics and Political Science, will be among the speakers discussing the presentation of scientific topics in the media.

The title of the session is: 'Altered States: what happens when we tell stories about science?', taking place on Wednesday 27th February at 7pm. More information about the specific talk at the page.

The programme also includes a series of creative writing workshops and fun events for children. Tickets will be available online from Monday 4 February. Full details can be found at .

Economic Development and Social Technology, by Kang Chul-Kyu

Tuesday 5 February 2013, 6:30-8:00pm
Vera Anstey Room, Old Building

Hosted by the Department

In economic development, intangible social technologies — institutions, organisations, and management capabilities — matter critically, perhaps even more so than hard, physical technologies. Professor Kang’s lecture discusses the empirical evidence on this, and shows how every critical juncture in human history sees the emergence of key defining social technologies, technologies that shape national destiny as profoundly as they do economic development. It is thus social technology that leads economic and historical development. He will also briefly touch on how Chaebol reform in Korea occupies a fascinating nexus in the development of this hypothesis.

Professor Kang Chul-Kyu is President of Woosuk University in Wanju, Korea. A graduate of Seoul National University, he earned his PhD in Economics from Northwestern University, majoring in economic theory. His research interests include international organisation and economic development.

Professor Kang served for most of his academic career as Professor of Economics at the University of Seoul. He has been active in both the civic and political arenas, serving as Co-Representative of Civil Coalition of Economic Justice, and recently Chairman of the Nomination Committee for General Elections of the Democratic United Party.

He has worked for previous governments as Co-Chairman with the Prime Minister of the Presidential Regulatory Reform Committee, First Chairman (Senior Minister) of the Independent Commission Against Corruption and Chairman (Senior Minister) of the Fair Trade Commission.

Info: Event free and open to all with no ticket or registration required.

Investing in Prosperity - Launch of the ÐÓ°ÉÂÛ̳ Growth Commission, with Tim Besley, Francesco Caselli, Sir Richard Lambert, Rachel Lomax, Lord Stern and John van Reenen

Tuesday 31 January 2013, 6:30-8:00pm
Old Theatre, Old Building

Having sifted through the evidence throughout 2012, the distinguished group of ÐÓ°ÉÂÛ̳ Growth Commissioners launch the report of their findings on the design of a strategy to support UK growth. 

Tim Besley is ÐÓ°ÉÂÛ̳ professor of economics and political science; co-chair of the commission. 

Francesco Caselli is professor of economics at ÐÓ°ÉÂÛ̳.

Richard Lambert is chancellor, University of Warwick and former director general of the Confederation of British Industry.

Rachel Lomax is non-executive director of HSBC, former deputy governor of the Bank of England and permanent secretary of three government departments. 

Nicholas Stern is I G Patel chair and director, ÐÓ°ÉÂÛ̳ Asia Research Centre. 

John van Reenen is director of CEP and professor of economics; co-chair of the commission.

Running order:

• Welcome from Prof Craig Calhoun
• Tim Besley - Introduction & The Economic Story of the UK
• John Van Reenen - Human Capital
• Nick Stern - Infrastructure
• Richard Lambert - Finance & Innovation
• Francesco Caselli - GDP and Beyond
• Rachel Lomax - How do we get where we want to go?
• Questions from the audience

For more information about the Growth Commission and its members please view . 

Twitter hashtag for this event : #ÐÓ°ÉÂÛ̳growth

Info: Event free and open to all, however a ticket is required - further information from .

Recordings: page.

Masters of the Universe: Hayek, Friedman, and the Birth of Neoliberal Politics, by Daniel Stedman Jones and Professor Mark Pennington and Professor Lord Skidelsky as respondents

Wednesday 16 January 2013, 6:30-8:00pm
Old Theatre, Old Building

Hosted by the Department

How did American and British policymakers become so enamoured with free markets, deregulation, and limited government? Based on archival research and interviews with leading participants in the movement, Daniel Stedman Jones has traced the ascendancy of neoliberalism from the academy of interwar Europe to supremacy under Reagan and Thatcher and in the decades since. He contends that there was nothing inevitable about the victory of free-market politics. Far from being the story of the simple triumph of right-wing ideas, the neoliberal breakthrough was contingent on the economic crises of the 1970s and the acceptance of the need for new policies by the political left. In his lecture he will describe neoliberalism's road to power, beginning in interwar Europe, then shifting its centre of gravity after 1945 to the United States, especially to Chicago and Virginia, where it was developed into an uncompromising political message, communicated through a transatlantic network of think tanks, businessmen, politicians, and journalists held together by Friedrich Hayek and Milton Friedman. A discussion for anyone who wants to understand the history behind the Anglo-American love affair with the free market, as well as the origins of the current economic crisis.

Daniel Stedman Jones is a barrister in London. He was educated at the University of Oxford and at the University of Pennsylvania, where he earned a PhD in history. He has worked as a policy adviser for the New Opportunities Fund and as a researcher for Demos. His latest book is Masters of the Universe: Hayek, Friedman, and the Birth of Neoliberal Politics.

Mark Pennington is Professor of Public Policy and Political Economy, King's College, University of London, prior to which he spent eleven years at Queen Mary, University of London. He holds a PhD from the London School of Economics. Mark's work lies at the intersection of politics, philosophy and economics with a particular emphasis on the classical liberal tradition. His latest book, Robust Political Economy (2011: Cheltenham, Edward Elgar) examines challenges to classical liberalism derived from neo-classical economics, communitarian political theory and egalitarian ethics. From January 2013 Mark will be the European Editor of the Review of Austrian Economics.

Robert Skidelsky is Emeritus Professor of Political Economy at the University of Warwick. His three-volume biography of the economist John Maynard Keynes (1983, 1992, 2000) received numerous prizes, and he recently published Keynes: The Return of the Master.

Info: Event free and open to all with no ticket or registration required - further information from .

Recordings: ,  

Demystifying the Chinese Economy, by Justin Lin

Tuesday 18 December 2012, 6:45-8:15pm
Old Theatre, Old Building

Hosted by CIBL and the Department

As a result of the miraculous growth since the market-oriented reform in 1979, China’s status in the global economy has dramatically changed. This speech will reflect on China’s unprecedented growth in the past 32 years, examine the reasons of that growth, and discuss prospects and challenges for China to maintain an eight-percent annual growth rate in the coming decades.

Justin Yifu Lin is the former World Bank chief economist and senior vice president, development economics. Lin is the founder and first director of the China Center for Economic Research and a former professor of economics at Peking University and at the Hong Kong University of Science and Technology. Justin Lin is to receive an Honorary Degree from ÐÓ°ÉÂÛ̳ – Doctor of Science (Economics).  

For further information please visit the ÐÓ°ÉÂÛ̳ pages.

Twitter Hashtag for this event: #ÐÓ°ÉÂÛ̳China

Info: Further information from .

Recordings: ,  

More Relatively-Poor People in a Less Absolutely-Poor World, by Martin Ravallion

Thursday 22 November 2012, 5:00-6:00pm
Old Theatre, Old Building

Hosted by the Department  

Relative deprivation, shame and social exclusion matter to the welfare of people everywhere, but this fact is ignored by standard measures of economic performance, including poverty. The lecture will argue that such social effects on welfare call for a reconsideration of how we assess global poverty, but they do not support widely used measures of relative poverty. It is argued instead that a new class of measures is called for, and new estimates of global poverty are presented. The lecture will discuss the implications for thinking about development policy, including setting global development goals.

Martin Ravallion is Director of the World Bank’s Research Department and (from 2013) holds the Edmond D Villani Chair of Economics at Georgetown University. He served as acting Chief Economist and Senior Vice President, Development Economics at the World Bank succeeding Justin Yifu Lin, and holding the post until Kaushik Basu took up the post. His main research interests over the last 25 years have concerned poverty and policies for fighting it. He has advised numerous governments and international agencies on this topic, and he has written extensively on this and other subjects in economics, including three books and 200 papers in scholarly journals and edited volumes. In 2012 he was awarded the John Kenneth Galbraith Prize. Prior to joining the Bank, Martin was on the faculty of the Australian National University (ANU). He holds a Ph.D. in economics from the London School of Economics and Political Science (ÐÓ°ÉÂÛ̳), and has taught economics at ÐÓ°ÉÂÛ̳, Oxford University, the Australian National University, Princeton University and the Paris School of Economics.

Twitter Hashtag for this event: #ÐÓ°ÉÂÛ̳poverty

Info: Event free and open to all with no ticket or registration required - further information from .

Recordings: ,

Economic Transition in the Arab world: Challenges and Opportunities, by David Lipton

Tuesday 13 November 2012, 3:00-4:00pm
ÐÓ°ÉÂÛ̳ campus, venue tbc to ticketholders

Hosted by the Department and the ÐÓ°ÉÂÛ̳ Kuwait Programme 

Almost two years after the start of the so-called "Arab Spring", the countries concerned are facing significant economic challenges, against the backdrop of a difficult global environment. While much attention is rightly being paid to near term economic stabilization, there is an historic opportunity for structural changes that would liberate economic forces, and allow these economies to generate the growth needed for increasing income and employment opportunities. Notwithstanding their own difficulties, advanced economies must help.

David Lipton (pictured © International Monetary Fund) was appointed First Deputy Managing Director of the International Monetary Fund on September 1, 2011. Before joining the Fund, he was Special Assistant to the President, and Senior Director for International Economic Affairs. National Economic Council and National Security Council at the White House. He was a Managing Director at Citi, and also worked at Moore Capital Management and at the Carnegie Endowment for International Peace. Mr Lipton served in the Clinton Administration at the Treasury Department, and as Assistant Secretary and Under Secretary of the Treasury for International Affairs. Before that, he was a Fellow at the Woodrow Wilson Center of Scholars. From 1989 to 1992, he worked as Economic Advisor to the governments of Russia, Poland and Slovenia. Mr. Lipton began his career with eight years on the IMF staff. He has a Ph.D. and M.A. from Harvard University and a B.A. from Wesleyan University.

Twitter Hashtag for this event: #ÐÓ°ÉÂÛ̳Lipton

Info: Event free and open to all however a ticket is required - further information from .

Recordings: ,

The Gulf and the Global Economy: the state of the world, by Arnab Das, Professor Iain Begg, Dr Gerard Lyons, Rachel Ziemba

Tuesday Thursday 25 October 2012, 6.30-8pm
Old Theatre, Old Building

Hosted by the Department and the ÐÓ°ÉÂÛ̳ Kuwait Programme

As US and European economies teeter on the verge of ever-greater slowdown, what prospects remain for growth elsewhere in the world?

Arnab Das is managing director of research, Roubini Global Economics.
Iain Begg is Professor at the European Institute, ÐÓ°ÉÂÛ̳.
Gerard Lyons is chief economist and group head, Global Research, Standard Chartered Bank.
Rachel Ziemba is director of Central and Eastern Europe, Middle East and Africa (CEEMEA) and global macroeconomics at Roubini Global Economics.

Twitter Hashtag for this event: #ÐÓ°ÉÂÛ̳Gulf

Info: Event free and open to all with no ticket or registration required - further information from .

Recordings: ,

Adapt: Problem Solving in a Complex World, by Tim Harford

Tuesday Monday 15 October 2012, 6.30-8pm
Old Theatre, Old Building

Hosted by the Department

Tim Harford combines biology, statistical physics, psychology and of course economics to explore how complex problems are solved, and the crucial role of learning from our apparently endless ability to screw up.

Tim Harford is the author of Adapt and The Undercover Economist. He is a senior columnist at the Financial Times, presenter of Radio 4's More or Less, and a visiting fellow at Nuffield College, Oxford.

Twitter Hashtag for this event: #ÐÓ°ÉÂÛ̳adapt

Info: Event free and open to all with no ticket or registration required - further information from .

Recordings: ,