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What should economists and policymakers learn from the financial crisis?


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Speaker(s): Dr Ben S Bernanke, Olivier Blanchard, Professor Lawrence H. Summers, Axel A. Weber
Chair: Professor Sir Mervyn King

Recorded on 25 March 2013 in Old Theatre, Old Building.

Five years on, the global economy continues to come to terms with the impact of the financial crisis. This event examines the lessons that both economists and policymakers should learn in order to lessen the chance of future crises.

Ben S. Bernanke was sworn in on February 1, 2006, as chairman and a member of the board of governors of the Federal Reserve System. Before his appointment as chairman, Dr. Bernanke was chairman of the President's Council of Economic Advisers, from June 2005 to January 2006.

Olivier Blanchard is economic counsellor and director, Research Department at the International Monetary Fund. After obtaining his Ph.D in economics at the Massachusetts Institute of Technology in 1977, he taught at Harvard University, returning to MIT in 1982, where he has been since where he holds the post of Class of 1941 Professor of Economics.

Lawrence H. Summers is President Emeritus of Harvard University. During the past two decades he has served in a series of senior policy positions, including vice president of development economics and chief economist of the World Bank, undersecretary of the Treasury for International Affairs, director of the National Economic Council for the Obama administration from 2009 to 2011, and secretary of the treasury of the United States, from 1999 to 2001. He is currently the Charles W. Eliot University Professor at Harvard University.

Axel A. Weber is visiting professor of economics at the University of Chicago Booth School of Business, former president of the Deutsche Bundesbank and current chairman of the board of UBS.

Professor Sir Mervyn King is governor of the Bank of England. Before joining the Bank he was professor of economics at the LSE, and a founder of the Financial Markets Group.

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