Jeremy Adelman of Princeton University talks to Romesh Vaitilingam about his biography of the economist and social scientist Albert Hirschman. They discuss Hirschman’s ideas about economic development, ‘optimal’ crises and what is perhaps his most famous book among economists, "Exit, Voice and Loyalty". Adelman also speculates on what the citation would have said had Hirschman won the Nobel Prize – and explains why we should read Hirschman now. The interview was recorded in London in May 2013.
Robert Shiller of Yale University has just been awarded the Nobel Memorial Prize in Economic Sciences (with Eugene Fama and Lars Peter Hansen). In this interview recorded in May 2012, he talks to Romesh Vaitilingam about his book, ‘Finance and the Good Society’, which argues that even after the crisis, rather than condemning finance, we need to reclaim it for the common good. They discuss financial innovation, personal morality, the importance of education and the contribution that finance can make to our lives.
Michael Pettis talks to Viv Davies about his recent book, "The Great Rebalancing: Trade, Conflict and the Perilous Road Ahead for the World Economy". Pettis explains how China has maintained massive, but unsustainable investment growth by artificially lowering the costs of capital, and how Germany may be endangering the euro by favouring its own development at the expense of its neighbours. Pettis maintains that we are currently undergoing a critical rebalancing of world economies, and that much of the debate about the global crisis has been caught up in ‘muddled thinking’. The interview was recorded in London on 12 February 2013.
Justin Lin talks to Viv Davies about his new book, ‘Against the Consensus: Reflections on the Great Recession’. Lin presents his thoughts on the cause of the crisis and argues that conventional theories provide inadequate solutions, suggesting that the crisis originated in global imbalances arising from the wealth effect of excess liquidity created by US financial deregulation and loose monetary policy.They discuss Lin's recommendation for a Global Marshall Plan and a new supranational global reserve currency. Lin also presents his views on industrial policy.
Benn Steil of the Council on Foreign Relations talks to Romesh Vaitilingam about his book ‘The Battle of Bretton Woods: John Maynard Keynes, Harry Dexter White, and the Making of a New World Order’. They discuss the ‘realpolitik’ of the 1944 conference and the scheming of the two central characters, as well as lessons for today’s efforts to reform the Eurozone and the international monetary system. The interview was recorded in London in April 2013.
Other Recent Vox Talks:
- The architecture of innovation
- Reform or repression: The political constraints to effective banking reform
- Quantitative easing and unconventional monetary policy
- Eurozone in recession since 3rd quarter 2011
- The 2012 US presidential election: a Moneyball approach
- Market design: An interview with Nobel laureate Alvin Roth
- The path to sustainable recovery for the Eurozone
- Why teaching economics must now change in light of the crisis
- Timing is everything: Fiscal consolidation during depression
- Bank resolution: from Cinderella to centre stage
- Rising protectionism and the subordination of trade policy
- Trust between Eurozone leaders can create self-fulfilling positive outcomes
- The tragic error of excessive austerity
- The war of the sexes
- The oil curse: How petroleum wealth shapes the development of nations
- Greece and the Eurozone: Political leaders should get off their high horses
- Constraints to growth in Sri Lanka and private enterprise development in low-income countries
- Liquidity support is essential for supporting reforms in the Eurozone
- Education and economic development: Evidence from the Industrial Revolution
- A tale of two depressions: What do the new data tell us? February 2010 updateEichengreen, O’Rourke
- The ECB’s stealth bailoutSinn
- Educated in America: College graduates and high school dropoutsHeckman, LaFontaine
- Eurozone breakup would trigger the mother of all financial crisesEichengreen
- Panic-driven austerity in the Eurozone and its implicationsDe Grauwe, Ji
Adelman, 28 October 2013