Can Old Economics Help Solve Modern Economic Problems?
Could history’s great economic thinkers have answers for today’s big economic conundrums? In an era of globalized trade, complex financial derivatives, mass automation, virtual currencies, huge wealth concentration and rapid technological progress, can their ideas still inform governments and policymakers in addressing the major economic challenges of our time? Are the works of Smith, Keynes, Marx, Friedman, and Ostrom still relevant in a world more complicated and connected than they could ever have imagined?
This event unpacks a number of contemporary global economic problems, analysing them in relation to the key tenets of the theories of seminal economic thinkers. The panel considers how the lives, and times, of these thinkers shaped their ideas, how the current political economy has been influenced by their work, and how - and if - they might offer solutions to the most important tests faced today in economies across the world.