Carlo C. Jaeger: Climate Change and New Models of Growth 2/6

The speaker discusses the importance of adhering to time limits and critiques old economic thinking, which views the economy as a single equilibrium system with unavoidable tradeoffs. He advocates for new economic thinking that emphasizes coordination and multiple equilibria, which can lead to better outcomes. The speaker highlights the challenges in policy-making and research, using examples from Germany and Japan, and concludes by acknowledging contributors to a related book.

What is the main criticism of old economic thinking according to the speaker?

• It ignores the role of government.

• It focuses too much on technology.

• It leads to gridlock in policy negotiations.

• It overemphasizes cultural factors.

What does old economic thinking view the economy as?

• A dynamic system with multiple equilibria.

• A system driven by cultural values.

• A single equilibrium system with unavoidable trade-offs.

• A chaotic system with no patterns.

According to new economic thinking, what is a key problem in the economy?

• Lack of resources.

• Over-reliance on technology.

• Poor coordination.

• Excessive government intervention.

What does the speaker suggest is necessary to solve complex climate issues?

• A well-designed master plan.

• Learning by doing.

• Complete reliance on technology.

• Ignoring economic factors.

What opportunity does the speaker see for Japan in terms of economic potential?

• To become a leader in fossil fuel production.

• To reduce its technological advancements.

• To increase its population significantly.

• To get out of the liquidity trap.

Who is mentioned as a key figure in advancing German climate science?

• Albert Einstein

• Klaus Hasselmann

• Isaac Newton

• Marie Curie

What is the speaker's view on the role of researchers in solving climate issues?

• They should provide a perfect theory.

• They should focus on learning by doing.

• They should avoid collaboration with governments.

• They should ignore economic factors.