Did economists contribute to the global financial crisis?

Paul Ormerod's lecture, Have economists gone mad? attracted considerable interest from across the University community, when he spoke as part of the 'Research in the World' lecture series.

Paul described how the ideas that form the core of modern macroeconomics have developed and become widely accepted over the past 30 years.

These ideas, he argued, have justified recent economic policies and thus directly contributed to the current financial crisis.

Paul said he would not answer his own question and invited the audience to draw their own conclusion. But he did say that he thought that economists, and economic policy makers, would do well to remember their economic history.

There was lively questioning and debate at the event, and undoubtedly afterwards, as the issues raised directly affect all of us.

The lecture is now available to download as a podcast.

Paul Ormerod Public Lecture

Paul Ormerod discussed how economic theories could have directly contributed to the global financial crisis

Who would you invite as a speaker?

This lecture is one in our series of open events at the University that address current major global issues and challenges. The next lecture will be in February, further details to follow soon.

University staff and students are invited to suggest names for future speakers in the series:

  • Who would you most like to hear from and why?
  • How does their work resonate with your research or with public interest?

Please make suggestions by emailing Professor Jane Millar, Pro-Vice-Chancellor Research.

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