idw – Informationsdienst Wissenschaft
Nachrichten, Termine, Experten
Nachrichten, Termine, Experten
Understanding the crisis asks for an analysis of both micro- and the macro level economics. The micro failure is due to excessive belief that with appropriately developed incentive pay, firms could cure the principal/agent problem between managers and shareholders/other stake holders. The incentives were wrong. The macro failure was excessive belief in unfettered markets and deregulation that neglected history and evidence. Too many economists and policy-makers marginalized skeptics of the prevailing model of capitalism and misread the visible hand of the wealthy and powerful few for the invisible hand of competitive markets. We need massive reforms to change from a system of crony capitalism centered in finance to a system of shared capitalism that gives greater incentives and rewards for all.
Richard B. Freeman holds the Herbert Ascherman Chair in Economics at Harvard University. He is currently serving as Faculty Director of the Labor and Worklife Program at the Harvard Law School. He is also director of the Labor Studies Program at the National Bureau of Economic Research, Senior Research Fellow in Labour Markets at the London School of Economics' Centre for Economic Performance, and visiting professor at the London School of Economics. Among his most recent publications are America Works: The Exceptional Labor Market (2007), What Workers Want? (2006, 1999), Seeking a Premiere League Economy (2004), and Emerging Labor Market Institutions for the 21st Century (2004).
Kai A. Konrad is research professor "The Future of Fiscal Federalism", WZB, and director at the Max Planck Institute for Intellectual Property, Competition and Tax Law.
Arndt Sorge is acting director of the research unit "Internationalization and Organization".
This seminar is part of the dialogue series "Finanzkrise - Forschung - Politik".
40 Jahre WZB - Gefördert vom Stifterverband für die Deutsche Wissenschaft
Information on participating / attending:
The WZB provides for child care during the lecture. If you are interested, please respond by August 25, 2009, indicating the number of children and their age.
To register, please reply by September 2, 2009, to Marie Unger: finanzkrise@wzb.eu; Fax: 030-25 49 16 80.
Date:
09/08/2009 17:00 - 09/08/2009 20:00
Registration deadline:
09/02/2009
Event venue:
Reichpietschufer 50
10785 Berlin
Berlin
Germany
Target group:
Journalists, Scientists and scholars
Relevance:
transregional, national
Subject areas:
Economics / business administration, Politics, Social studies
Types of events:
Entry:
08/11/2009
Sender/author:
Dr. Paul Stoop
Department:
Informations- und Kommunikationsreferat
Event is free:
yes
Language of the text:
German
URL of this event: http://idw-online.de/en/event28223
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