About This Video
How we interpret the recession and who we hold to account for it are key political and economic questions. As part of the Battle for the Economy summit organised by the Institute of Ideas, an illuminating panel discussion takes us beyond the usual suspects: the greedy bankers and consumer culture. As economist and author Phil Mullan points out, short-termist explanations that point the finger at greed do little to resolve the situation. In these edited highlights from the session, the real causes of the recession take centre stage.
Panellists include: Warwick Lightfoot, economist; former special adviser to Chancellors Nigel Lawson, John Major and Norman Lemont; Phil Mullan, economist; Director of Business Transformation, Easynet; author, The Imaginary Time Bomb; Richard Portes, professor of economics, London Business School; founder and President, CEPR; Simon Nixon, European Editor, Wall Street Journal’s Heard on the Street columnist.
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Zett
3 months ago 0 + -It’s a crisis of… well, there apparently is no consensus about what kind of crisis it is. Systematic? Market? Monitoring? Financialisation? Regulation? Many opinions, many possibilities… I’m no economist and I won’t dare to analyze specifics since I know too little about the matter but in the end I think it all comes down to everyone doing their best. Governments, companies, the big players… of both Western, Asian, and… all other countries. No settling back, please. Of no one.
Zett
3 months ago 0 + -An exchange of opinions and ideas is important to recognize the vast range of possible reasons and to examine the arguments. And then, acting upon it. Of course there are mistakes made but if nothing is done we let the matter get taken completely out of our hands. And I think that is something we should avoid.
We will get through this crisis on way or the other and only constantly analyzing actions, taking responsibility and going forward will help. How? I don’t know which way is the right one. Specialists try to find out and in the end something is pursued. We can try our best to do what we think is right and in the end we will see, and scrutinize and examine. Constant (active!) attention is important.