What have we learned from the global financial crisis?
The Global Financial Crisis of 2008 came close to destroying the financial systems of the US and Europe, not to mention the credibility of the economics profession. Yet, four years after the near-meltdown of the economy, it would be difficult for an observer to discern any signs that there had ever been a financial crisis.
Indeed, while the crisis was created by financial speculation, the costs are being borne primarily by workers in the broader economy, and the policy responses have involved a renewed application of the public sector austerity measures traditionally favored by the financial sector. Similarly, the economics profession has continued to act as if the crisis had never occurred. Nevertheless, the lessons of the Global Financial Crisis are there to be learned, even if it takes a renewed crisis to drive them home.
John Quiggin is an Australian economist, a Professor and an Australian Research Council Federation Fellow and a Laureate Fellow at the University of Queensland, and a member of the Board of the Climate Change Authority of the Australian Government. After earning separate first class honours degrees in maths and economics, John completed a Master of Economics through the Australian National University, and PhD in Economics at the University of New England in 1988, receiving the Drummond Prize for best doctoral thesis.
Arrangements: Doors open at 6pm. No need to book – just show up!
Refreshments: There will be complimentary drinks and nibblies following the talk, where A/Prof Belov will be available to answer any questions
Questions? For any further information please contact Andrew.