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Capitalism, inequality and financial crisis

Professor Jagjit ChadhaDoes Piketty’s Capital in the Twenty-First Century Offer the Answer?

In Jagjit Chadha’s article he posits that Piketty’s view of capitalism misses the great span of progress for the average household and the majority who live in the neighbourhood of that average. We should, he says, treat the seriously wealthy as one-time lottery winners for whom luck tends not to last. We ought not to begrudge their luck in the same way that the long dead cannot begrudge ours for being born in the wealthiest and healthiest period of human history.

Click to read Professor Chadha's article in the European Financial Review.

MaGHiC inaugural lecture

Macroeconomics, Growth and History CentreProfessor José-Víctor Ríos-Rull, from the University of Minnesota and the Minneapolis FED, delivered the Inaugural Macroeconomics, Growth and History Centre (MaGHiC) Lecture on Friday 16 January. He presented his work with Huo Zhen on ‘Financial Frictions, Asset Prices, and the Great Recession‘.

The Great Recession that most western economies faced from 2008 was unusual in that it represented the largest drop of economic activity since the Great Depression of the 1930s. The loss of output, employment, productivity and house values during the period was of an order of magnitude many times larger than standard recessions.

Was Domar right? The second serfdom, the land-labour ratio, and urbanization in 18th century Bohemia

Dr Alex KleinDr Alex Klein is giving a seminar tomorrow (20 January 2015) at the UCL School of Slavonic & East European Studies titled “Was Domar Right? The Second Serfdom, the Land-Labour Ratio, and Urbanization in Eighteenth-Century Bohemia”. The seminar is at 5pm in Roberts 309, UCL, Torrington Place, London, WC1E 7JE. For further details, click here.

MaGHiC inaugural lecture

Macroeconomics, Growth and History CentreOn Friday 16 January 2015 the School is hosting the Macroeconomics, Growth and History Centre (MaGHic) inaugural lecture by José-Víctor Ríos-Rull, Carlson Professor of Economics at the University of Minnesota. He will be talking on ‘Finance Frictions, Asset Prices, and the Great Recession’ (with Zhen Huo). The lecture will be held in KLT2 at 15.00.