Tommaso Padoa-Schioppa - Keynote Speech, INET Conference @ King's

The video discusses the distinction between theorists and practitioners in economics, emphasizing the importance of action and the challenges faced by practitioners. It explores the economic crisis, identifying three key dynamics: unsustainable growth, asset bubbles, and financial panic. The speaker argues that the crisis is not within the system but of a particular market economy version, highlighting flaws like market fundamentalism, economic nationalism, and short-termism. The video concludes by addressing the crisis in economics, focusing on the interaction between theorists and practitioners and the need for better communication and understanding.

What are the implications of the speaker's views on economic nationalism?

What does the speaker suggest about the teaching of economics in relation to the crisis?

What is the significance of the 'commonality of language' in the interaction between theorists and practitioners?

How does the speaker describe the relationship between analysis and decision-making in economics?