| OECD Unit for New Approaches to Economic Challenges (NAEC) GOVERNMENT ECONOMISTS FOR NEW ECONOMIC SYSTEMS (GENESYS) Thursday 4 November, 3:00 pm – 5:00 pm (CET) |
Abstract
New analytical and systems-oriented approaches and integrated policy approaches are required to understand and manage inter-connected systemic issues.
In a Systemic Recovery from Covid-19, as governments are forced to apply cross-disciplinary and integrative economics to the formulation and implementation of policy, it will become increasingly necessary to build new analytical capabilities and narratives within governments.
In moving from analysis and diagnoses of systemic challenges to policy alternatives, the New Approaches to Economic Challenges (NAEC) Unit at the OECD has establishedGovernment Economists for New Economic Systems (GENESYS) as a platform for debating, experimenting and discussing policy alternatives and the analytical approaches which underpin them.
| Opened by the President of the Eurogroup, Irish Finance Minister, Paschal Donohoe Followed by a roundtable discussion on lessons from the Covid crisis for new economic thinking and acting, chaired by Financial Times Associate Editor Rana Foroohar with panellists: Jonathan D. Ostry, Deputy Director of the Research Department, International Monetary Fund and Research Fellow at the Center for Economic Policy Research (CEPR) “Challenges for Policies” Jo Swinson, Director, Partners for a New Economy (P4NE) William White, Senior Fellow at the C.D. Howe Institute, Toronto, and former chairman of the OECD Economic and Development Review Committee Sweta C. Saxena, Chief, Macroeconomic Policy and Financing for Development, UN Economic and Social Commission for Asia and the Pacific (UNESCAP) Eric Beinhocker, Executive Director of the Institute for New Economic Thinking (INET) Oxford, and Professor, Blavatnik School of Government, University of Oxford Megan Greene, Economist, Senior Fellow, Harvard Kennedy School Angus Armstrong, Director, Rebuilding Macroeconomics Thomas Fricke, Director, New Economy Forum and Chief Economist, European Climate Foundation Michael Jacobs, Professorial Fellow, Sheffield Political Economy Research Institute (SPERI) Alan Kirman, Chief Advisor to the NAEC Initiative If you wish to join the GENESYS network, please send your name, email address and affiliation to naec@oecd.org |
One reply on “EVENT and INVITATION: Government Economists for New Economic Systems”
It seems that those in the economic profession who influence or impact on economic policy (including those who are deluded and pompous enough to think that they do) are in a mad rush to distance themselves from their previous adherence to the failed dogmas of this mis-named neoliberalism. (Neoliberalism was, and remains, just an ugly and nasty mutation of capitalism over the last 40 years.) The Biden administration is pivoting determinedly away from neoliberalism and the UK government is cunningly repositioning itself to broadly align with this. Whether we like it or not, we are firmly in the US-UK economic space at an intersection with the EU economic space. The EU is mired in institutional dysfunction, political ineptitude and strategic incoherence. The arrogance, delusions of grandeur and selfish pursuit of its interests exhibited by the French state have been cruelly exposed. Germany is poised to deliver a collusion of lunacy in goverment. Having prostituted ourselves for so long and so remuneratively to a handful of major US MNEs, we really have some difficulty now in deciding which position to assume if we are to continue gratifying them and securing a reward for doing so – while staying friends with the Continentals.
The policy challenges are mounting both here and globally and it’s probably good that at least some economists are trying to make themselves appear relevant and useful.
The Economist recently had an interesting piece on how the massive increase in real-time data is having and will have a major impact on policy design and implementation:
https://www.economist.com/leaders/2021/10/23/a-real-time-revolution-will-up-end-the-practice-of-macroeconomics
On another note, I’m a tad surprised that there has been no post on the publication of the Climate Change Budgets by the Climate Change Advisory Council.