The author of three best-selling books on economics, Paul Ormerod, will speak on what mainstream economists have to say about the turmoil of world economy at a public lecture on Wednesday 2 December at the University of Bath.
It has been more than a year since the Wall Street bank Lehman Brothers filed for bankruptcy, triggering global financial downturn.
Huge asset ‘price bubbles’ and massive build-ups of debt have meant economic output is still falling, meaning that any kind of equilibrium is a long way away.
So what do economists have to say?
Paul Ormerod, Director of Volterra Consulting, said: “It is the ideas at the heart of modern macroeconomics which provided the justification of the economic policies of the past 10 -15 years. It is these ideas which the financial crisis was brought on by.
“Modern macroeconomics bears a heavy burden of responsibility for the financial crisis.”
Paul is an author of Death of Economics, Butterfly Economics and Why Most Things Fail (2005), which also won Business Week’s US Business Book of the Year.
He is also a fellow of the British Academy of Social Sciences and was a Distinguished Fellow at the Institute of Advanced Study.
The lecture will take place on Wednesday 02 December at 6.15pm in 8 West 3.22 – all are welcome.
Free tickets are available from Sheila Willmott or call 01225 386631.