UK Financial Services Authority Chief Lord Adair Turner gave a thoughtful, long, but probing and reflective talk about what economic and financial regulation should be trying to achieve. One of the parts of his talk that I liked very much was his open query about the appropriateness of economic growth that is unattached to quality of life, jobs and happiness.
George Soros, a co-founder of the Institute for New Economic Thinking which is hosting this conference, sees Turner as perhaps the John Maynard Keynes of our time.
INET Executive Director Rob Johnson — who is a former music industry promoter and has put together some of the coolest comments, music, and video from leading cultural provocateurs and musical talent — introduces Turner in the clip above.
– Steve Clemons
Undoubtedly, the Turner’s economic indoctrination gives an insightful picture about the economic challenges/dynamics the world faces today.
Keynes’ Ghost
Robert Kuttner blogs from Bretton Woods:
http://prospect.org/csnc/blogs/tapped_archive?month=04&year=2011&base_name=keynes_ghost
For those who haven’t seen or read Richard Koo’s presentation at INET, please do so. It is extremely good.
“In a balance sheet recession, monetary policy is LARGELY IRRELEVANT.”
“In 1999 and 2001, deficits increased in Japan despite huge tax increases and huge decreases in spending!”