Webinar Video Political Economy

Shrinking Capitalism

CEPR / LSE IGA / SPP Webinar held Webinar held 04/06/2020

Philippe Aghion, Professor of economics, College de France and LSE, CEPR
Samuel Bowles, Director of Behavioral Sciences, Santa Fe Institute
Wendy Carlin, Professor of economics, University College London, CEPR
David Soskice, Professor, LSE School Professor of Economics and Political Science, LSE

Chair and Moderator: Erik Berglof, Director, Institute of Global Affairs, LSE School of Public Policy and Fellow, CEPR

The COVID 19 pandemic along with climate change has dramatized the obsolescence of the benchmark paradigm that still forms the basis of undergraduate teaching and popular discussion of economics. As was the case in the aftermath of the Second World War and the Great Depression a combination of new problems and new developments in economic theory provide the groundwork for a new paradigm. This would allow us to escape the limits of the government versus markets policy menu and encompass motivations beyond material gain and compliance with governmental authority to include ethical motivations of solidarity and duty that have underpinned successful anti-COVID policies.