Economics Opens Up into Long-term Turmoil - Martin Wolf

The transcript discusses the current turmoil in the economics profession, highlighting differing views on whether changes are needed. It suggests that young economists have new opportunities to explore the causes of crises. Policymakers face challenges in addressing crises due to limited political capital. There is concern that the financial system may become more dangerous, with a lack of consensus on solutions and the potential for future crises.

How might the perspectives of senior economists differ from those of newcomers in the field during this crisis?

What are the potential long-term changes in the economics profession as a result of the current turmoil?

What lessons does the speaker suggest might be learned from the current economic crisis?

What concerns does the speaker express regarding policymakers' responses to the crisis?

In what ways does the speaker believe the financial system may become more dangerous after the crisis?