Faculty of Education, Social Sciences and Law

School of Politics and International Studies

2008 Global Financial Crisis in a Long-term Perspective: The failure of neo-liberalism and the future of capitalism

27 February 2014 | 5:00pm - 6:30pm | Conference

Centre for Global Development (CGD) and Applied Institute of Research in Economics (AIRE) invites you to the lecture:

Ha-Joon Chang, University of Cambridge; author of 'Kicking Away the Ladder', speaking on

2008 Global Financial Crisis in a Long-term Perspective: The failure of neo-liberalism and the future of capitalism

Abstract:

The 2008 global financial crisis has been portrayed as a ‘perfect storm’, which no one could have predicted, by the proponents of free-market, neoliberal capitalism, which has dominated the world in the last three decades. However, even before the crisis, anyone who was interested in knowing had known that not all was well with neo-liberal capitalism – not just in terms of inequality but also in terms of stability and, most importantly, economic growth. The 2008 crisis was only the culmination of the neoliberal failure, at whose heart was the deregulated financial system with excessive complexity and very short time horizon.

Unfortunately, five years after the crisis, few necessary reforms have been made. Financial reforms in the rich countries have been limited and what changes that are to be made are introduced only very slowly. The developing countries are struggling to cope with inflows and outflows of capital, while being increasingly restricted in policy measures that they can use to promote high-productivity sectors.

In this talk, Ha-Joon Chang will discuss what reforms need to be made to the financial system of the rich countries and the global regime for international trade and investment, without which we are destined to repeat the last three decades of low growth, high inequality, and repeated financial crises in the coming years.

This will be followed by a wine reception in the Conference Auditorium.

Location Details

Conference Auditorium 2 (this is number 100 on the campus map)

How to get to the University

There is limited car-parking available on campus at a charge of £5.00

Parking spaces are available on campus for blue badge holder. Please contact 0113 343 5491 or carparking@leeds.ac.uk for further details.

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