Joseph Stiglitz on Macroeconomics in Crisis

Loading...

Sign in or sign up now!
Alert icon
Upgrade to the latest Flash Player for improved playback performance. Upgrade now or more info.
2,415
Loading...
Alert icon
Sign in or sign up now!
Alert icon

Uploaded by on Nov 14, 2011

Presentation by Professor Joseph Stiglitz at CERGE-EI on October 11, 2011, titled "Restoring Growth and Stability in a World of Crisis and Contagion: Lessons from Economic Theory and History".

Link to this comment:

Share to:
see all

All Comments (4)

Sign In or Sign Up now to post a comment!
  • He makes a compelling arguement in pointing out the problem of transition from manufacturing to services. To respond to the first two posts, the reason why this transition may seem different than that of the Great Depression, was that the GD was of a physical nature, while this transition is of an educational and training nature. This transition may take longer due to the time it takes to train for the demanded jobs. In short: mobility between jobs is not always of a locative nature.

  • Great explanation of how productivity increases can make things worse rather than better.

  • The only way I can think of the mobility trap becoming a problem during this transition is when there is a big difference in the development of a nations cities - some growing (service centers), some declining (old industrial centers). Is this really a relevant factor?

  • I've got a question concerning the mobility trap during transitions caused by the fanancial problems of people who loose their jobs or a significant part of their income. While I see the relevance of that for a society in transition from an agricultural to an industrial economy I don't really get why the mobility trap is a real problem for the tranistion to the service sector. Both industry and services usually take place in and around cities.

Loading...

Alert icon
0 / 00Unsaved Playlist Return to active list
    1. Your queue is empty. Add videos to your queue using this button:
      or sign in to load a different list.
    Loading...Loading...Saving...
    • Clear all videos from this list
    • Learn more