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SLIDE 2 Good Economics for Hard Times
#LSEStamp
Professor Esther Duflo
Abdul Latif Jameel Professor of Poverty Alleviation. Development Economics in the Department of Economics at the Massachusetts Institute of Technology. Co-founder and co-director of the Abdul Latif Jameel Poverty Action Lab (J-PAL).
Professor Robin Burgess
Professor of Economics in the Department of Economics at LSE and Director of the International Growth Centre
Hosted by the London School of Economics and Political Science
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Good Economic For Hard Times
Abhijit Banerjee and Esther Duflo
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- Brexit
- Trade
- Immigration
- Economic growth
- Inequality
- Social policy
Most issues that are important today are core economic issues
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But economists have lost most of their credibility
SLIDE 6 On most core issues people disagree with economists
“Imposing new US tariffs on steel and aluminum will improve Americans well-being.”
5 10 15 20 25 30 35 Average respndents Experts
Percentage
Percentage
SLIDE 7 Most economists like migration
“The average American Citizen would be better of if a larger number of low- skilled foreign workers were legally allowed to enter the US each year”
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- ADD A PHOTO OF AN ANTI CARBON TAX RALLY, full page (I will just talk
through it)
And they have no interest in listening to them
Credit: Guillaume Clement, l’Humanite
SLIDE 9 Why this mistrust?
Economists are not good forecasters
“The only function of economic forecasting is to make astrology look respectable”
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Four Lessons
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Lesson 1: incentives are overrated
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The “Lazy” welfare recipient
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Alaska permanent fund did not led people to work less
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Lesson 2: The economy is sticky
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RIP, Toqueville
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no one leaves home unless home is the mouth of a shark you only run for the border when you see the whole city running as well your neighbors running faster than you breath bloody in their throats the boy you went to school with who kissed you dizzy behind the old tin factory is holding a gun bigger than his body you only leave home when home won’t let you stay. Warshan Shire
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Lesson 3: De Gustibus….
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Bankers woes…
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Lesson 4: Dignity matters
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Rethinking economics and economic policy
SLIDE 23 Credit: Simon Hark | Shutterstock.com
Pains from trade
SLIDE 24 Credit: Shutterstock.com
Don’t get scared of taxes
SLIDE 25 Credit: Shutterstock.com
We can fight climate change
SLIDE 26 Homeless men coming for shelter in 19th century London. (Credit: Mansell/The LIFE Picture Collection/Getty Images)
Victorian hangover
SLIDE 27 Credit: Andrey Bayda | Shutterstock.com
Put dignity back at the center of social protection
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SLIDE 30 Good Economics for Hard Times
#LSEStamp
Professor Esther Duflo
Abdul Latif Jameel Professor of Poverty Alleviation. Development Economics in the Department of Economics at the Massachusetts Institute of Technology. Co-founder and co-director of the Abdul Latif Jameel Poverty Action Lab (J-PAL).
Professor Robin Burgess
Professor of Economics in the Department of Economics at LSE and Director of the International Growth Centre
Hosted by the London School of Economics and Political Science
