What Could Go Wrong in the Global Economy?
Session at the Festival of Economics 2016 in Bristol, chaired by Diane Coyle and featuring Jagit Chadha of NIESR, Swati Dhingra of LSE, Linda Yueh of Oxford University, and Michelle Cini of the University of Bristol
- What could go wrong with the global economy? #economicsfest @EdConwaySky @swatdhingraLSE @lindayueh #JagjitChadha: http://www.ideasfestival.co.uk/events/were-all-doomed-again-what-could-go-wrong-in-the-global-economy/ …
- Annus Mirabilis: 2016, #JagjitChadha @NIESRorg on a year of surprises, #economicsfest: http://www.niesr.ac.uk/blog/friday-flyer-annus-mirabilis-2016#.WC9fOq43ib9 …
- #economicsfest @DianeCoyle1859 substitutes for @EdConwaySky - are we all doomed? pic.twitter.com/AUSv5EIGbr
- Jagit Chadha: fixing the financial system after a 2008-style crash is the sort of thing that takes a generation. #economicsfest
- Michelle Cini: some things that can go wrong in the global economy are political, eg. the current rise of populism. #economicsfest
- Cini: populists who gain power find it hard to govern, so are likely to disappoint and be replaced. #economicsfest
- Populists can find it difficult to govern @michcini #economicsfest
- Difficult to be an optimistic when working on european affairs @michcini #economicsfest
- How much of a threat does the #Brexit referendum pose for the EU? @michcini @OUPPolitics, #economicsfest: http://blog.oup.com/2016/04/brexit-european-union-threat/ …
- Swati Dhingra: UK & US politicians have promised investment in infrastructure but it's not materialising. #economicsfest
- Salvaging #Brexit, @swatdhingraLSE on the right way to leave the EU @ForeignAffairs, #economicsfest: https://www.foreignaffairs.com/articles/united-kingdom/salvaging-brexit …
- Linda Yueh: Slowing of growth and rising inequality are global, long term issues with complex origins, not short-term crises. #economicsfest
- Yueh: Policy can create better jobs and a more equal society without hurting growth, eg. by investment in education. #economicsfest
- Yueh quotes Friedman that test of a policy is its results, not the intention behind it. #economicsfest
- The economic effect of ‘Trumpism’ - @lindayueh, #economicsfest: http://blog.oup.com/2016/11/the-economic-effect-of-trumpism/ … via @econromesh
- Dhingra: Trade policy (incl. globalisation) results in many people "left behind". Not surprising they oppose establishment #economicsfest
- UK-EU relations after #Brexit: what is best for the UK economy? @swatdhingraLSE @voxeu, #economicsfest: http://voxeu.org/article/uk-eu-relations-after-brexit-whats-best-uk-economy …
- Chadha: Despite troubling short-term effects of globalisation, long term gains for us in the UK have been enormous. #economicsfest
- Chadha: immigrants pay 4 or 5 times as much tax as they get in benefits. Politicians have put that extra money in pensions. #economicsfest
- Chadha: Since crisis, UK private debt has come down and long-term unemployment has not risen as much as feared. #economicsfest
- Cini: mainstream political parties seek to recapture lost votes rather than innovate to win over new supporters. #economicsfest
- Yueh: One way technology changes the possibilities for policy: negative interest rates easier in a mainly cashless world. #economicsfest
- Varieties of infrastructure discussed: mobile data, electricity system, road'n'rail maintenance, headline projects like HS2 #economicsfest
- Arrive at #economicsfest to find folks asking questions about tech - & @DianeCoyle1859 saying save for tomorrow! pic.twitter.com/hxS2q3yz5E
- Cini: populists in power can lead to inertia as they don't take bold decisions. #economicsfest
- Cini: The Euro crisis is not over. Political ramifications are still happening, particularly in Greece & Italy. #economicsfest
- Yueh introduces phrase "the doom loop": crises bouncing back and forth between banks & the state. #economicsfest
- Chadha: Financial crises depend on the unexpected, so in principle impossible to predict, but so are responses & prevention. #economicsfest
- Some audience using questions to make long speeches: please don't! We don't have opportunity to do your topic justice. #economicsfest
- Great panel at #economicsfest tackling questions on everything from Brexit to Uber to Trump to the Autumn Statement pic.twitter.com/nx9DrqrFHy
- Yueh: UK public investment, incl education, heavily cut since the crisis: we need to consider what we lost and reinvest. #economicsfest
- Chadha: economic effects of Brexit vote will kick in next year, greatest hurt landing on those who tended to vote Leave. #economicsfest
