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Economics for Inclusive Prosperity (EfIP)

Paper Session

Saturday, Jan. 4, 2020 10:15 AM - 12:15 PM (PDT)

Marriott Marquis, Grand Ballroom 5-6
Hosted By: American Economic Association
  • Chair: Dani Rodrik, Harvard University

Can Economics Rise to the Challenge?

Suresh Naidu
,
Columbia University
Dani Rodrik
,
Harvard University
Gabriel Zucman
,
University of California-Berkeley

Abstract

Our societies confront serious challenges arising from uneven technological progress, globalization shocks, and climate change. We discuss the extent to which the contemporary practice of economics is conducive to generating solutions to these problems. We are cautiously optimistic that economics can be an ally of inclusive prosperity, but emphasize that economists must combine their analytical and empirical tools with institutional imagination and creativity.

Economic Foundations of Real Freedom for All

Samuel Bowles
,
Santa Fe Institute
Wendy Carlin
,
University College London

Abstract

A common one-dimensional paradigm models the conflict over where to position policies along a continuum between the poles of government and market. Drawing on ideas from mechanism design as well as political philosophy, we explore the normative, modeling and policy challenges arising if we locate policies and institutions in a two-dimensional space by adding a third pole: community, based in important respects on social norms rather than state imposed laws or contractual exchanges.

The Political Limits of Economics

Luigi Zingales
,
University of Chicago

Abstract

Economists should help design a system that conforms to people’s preferences. All too often, however, we surreptitiously insert our preferences in the policy implications we derive in our models. I discuss how we can recreate some political boundaries to limit economics to what it can do best.
JEL Classifications
  • A1 - General Economics
  • H0 - General