Economics for the Common Good

Speech by Nobel Laureate Jean Tirole at the 2017 Festival of Economics, Bristol, hosted by Chris Giles

  1. Two absolute groaners from @ChrisGiles_ to kick off this #economicsfest session with Jean Tirole. Top stuff. 👌
  2. WATCH: Jean Tirole (now speaking at #economicsfest) on the Economics of Ethics 
  3. #economicsfest how the world works and how to make the world a better place - better than the A level definition
  4. Delighted to be supporting Jean Tirole’s talk on ethics at @FestivalofIdeas #economicsfest
  5. Moving on to two sided markets, @ChrisGiles_ is asking @JeanTirole about the news business, among others #economicsfest
  6. I've been to 4 economics talks so far this week and not a single PowerPoint slide. Which is nice. #economicsfest
  7. Why isn’t the best price guarantee on platforms like Booking good for consumers? Because fee to be on the platform is spread among *all* customers no matter how they book - @JeanTirole explains #economicsfest
  8. Two-sided markets pose a big problem for anti-trust authorities - Uber,  etc. risk getting monopolies on buyers and sellers @JeanTirole at #economicsfest
  9. Will Brexit be bad for our trade? @JeanTirole starts with the non-tariff barriers, and ends ‘Good Luck!’ #economicsfest
  10. #brexit will lead to lower purchasing power and greater monopoly power in UK, says Nobel prize winner @ #economicsfest
  11. #economicsfest speaker is pro-EU. Such a shame. Doesn't understand liberation of Global Britain.
  12. @FestivalofIdeas Please stop putting on such interesting talks-I need to do some work! (J Tirole, Nobel Prize Winner)
    @FestivalofIdeas Please stop putting on such interesting talks-I need to do some work! (J Tirole, Nobel Prize Winner)
  13. #economicsfest Jean Tirole ~”it’s not your fault if you are born with wrong genes” (by the way, he’s totally right about applying CGT to houses)
    #economicsfest Jean Tirole ~”it’s not your fault if you are born with wrong genes” (by the way, he’s totally right about applying CGT to houses)
  14. Tirole cites classic case of non-tariff barrier put up by France pre-EU. Now UK will face these again post-#brexit. Good luck with the negotiations, he says. @ChrisGiles_ says thanks... #economicsfest
  15. The generation born in the 1950s should have taken better care of the future, says @JeanTirole #economicsfest (I agree!)
  16. "France has wonderful education for the top 20%, but awful education for the bottom 80%" - @JeanTirole on the dangers of inequality #economicsfest
  17. How should economists talk about inequality - are the benefits from high house prices to do with personal buying and selling skills or just luck? @econcomms @FestivalofIdeas #economicsfest
  18. #economicsfest. So much emphasis on inequality. This is not a problem, only poverty. Focus on what others earn is envious.
  19. #economicsfest We need more international tax cooperation as we do in managing climate change. However hard.
  20. "One of the dangers of Nobel Prize Syndrome is having an opinion on every economic issue, and even on issues outside of economics" - @JeanTirole #economicsfest
  21. .@ChrisGiles_ doing great job of livening up session with rather grey Tirole delivery #economicsfest
  22. "Most times people lose their jobs are not their faults, so we need generous unemployment insurance with some restrictions and retraining" @JeanTirole at #economicsfest
  23. France needs a new social contract - protect the worker not the job, or there won’t be jobs any more, says @JeanTirole #economicsfest
  24. "The north and east of France are not doing well, and we're seeing them turn to Le Pen - if you don't take care of the losers from globalisation, you get completely crazy politics" @JeanTirole #economicsfest
  25. "Do you think the US is heading towards crazy politics?" - @ChrisGiles_ "I explain in my book why I don't want to get into politics... but there's a limit to that" - @JeanTirole #economicsfest
  26. .@JeanTirole argues the IMF should be allowed to intervene in Venezuela #economicsfest
  27. “Sometimes experts need to do something, because it’s getting dangerous” (J Tirole, Nobel Winner, on rise of Populism) @FestivalofIdeas
  28. The IMF tries to be a bad cop, but it has limited instruments to make a country more credible without hurting the poor - @JeanTirole at #economicsfest
  29. Greece has suffered partly because of bad policies, but also because of a lack of trust. Without trust you don't get investment - @JeanTirole at #economicsfest
  30. “We need solidarity, universal coverage and worker protection (not job protection)” - J Tirole, #economicsfest @FestivalofIdeas
  31. The Germans are "right and wrong" - you can't kickstart the economy with 100% debt, but you can't run policies that will just return Greece back to square one - @JeanTirole at #economicsfest
  32. "Undo Brexit" - @JeanTirole, 2017 (followed up with a very humble acknowledgement that it's far too easy to step into another country and tell them what to do) #economicsfest
  33. The impact of tech change on the jobs market is going to be very severe says @JeanTirole #economicsfest
  34. "Why is it that northern Italy subsidises the south? Why does west Germany subsidise the east?" Shared culture matters for encouraging people to be generous (which isn't necessarily a good thing) - @JeanTirole #economicsfest
  35. Why do we behave differently from our self-interest? Jean Tirole interviewed on economics of ethics @voxeu, #economicsfest