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News and Press

News Archive 2009

BBC Radio 4

The Today Programme: David Metcalf on work and residence visas to non-EU students

The government's chief immigration adviser has called for a review of "lower tier" colleges over fears that too many foreign students are being given visas at the end of their degree courses. Professor David Metcalf said he was "stunned" to discover hundreds of colleges which were not "proper" universities could grant two-year work and residence visas to non-EU students. Professor Metcalf discusses visa system.

Link to The Today Programme Archive for Friday 4th December 2009.(includes recording with David Metcalf).

Link to BBC News, "Foreign student visa review call by UK advisory body" 4th December 2009

Related Links
David Metcalf webpage
Labour Markets Programme webpage


News Posted: 04/12/2009      [Back to the Top]

Department of Economics Public Debate - Monday 30 November 2009

The Global Economics Crisis: One Year In

Department of Economics Public Debate

Date: Monday 30 November 2009
Time: 6.30-8.00pm
Venue: Old Theatre, Old Building
Speakers: Professor Tim Besley, Professor Willem Buiter, Professor Charles Goodhart, Professor Chris Pissarides

Where does the global economy now stand one year in to the global crisis? What is the impact of the range of policy actions that governments have undertaken?

There is an unmissable opportunity to hear some of the leading Economics professors at the LSE debate the global economic crisis next Monday evening in the Old Theatre. Professors Tim Besley, Willem Buiter and Charles Goodhart will be discussing where the global economy stands one year in to the global crisis, and what has been the impact of the range of policy actions that governments have undertaken. Chairing the debate will be Professor Lord Layard, who will open the debate to questions from the floor after all parties have expressed their views.

The debate will start at 6.30pm sharp; please ensure you are in your seats by 6.15pm at the latest. The event is free and open to all with no ticket required. Entry is on a first come, first served basis.

Any queries, email events@lse.ac.uk or phone 020 7955 6043.



News Posted: 26/11/2009      [Back to the Top]

New York Times

The great shrinking American dollar

Peter Boone, chairman of Effective Intervention, at the Center for Economic Performance co-writes with Simon Johnson that the American dollar is in the midst of a large fall in its value, as compared with other major currencies.

This article appeared in the New York Times on November 12, 2009
Link to article

Related Links
Peter Boone webpage
Effective Intervention Programme webpage

News Posted: 12/11/2009      [Back to the Top]

Touchstone (blog)

A job guarantee: a new promise on long-term unemployment

Professor Lord Richard Layard will be speaking at Beyond Crisis, a TUC / Guardian one-day conference on progressive responses to the financial crisis on 16 Nov.

This article appeared on the blog 'Touchstone' on November 3, 2009
Link to article

Related publications
Richard Layard's publications webpage

Related links
Richard Layard webpage
Wellbeing Programme webpage

News Posted: 03/11/2009      [Back to the Top]

Channel 4 News

Bailed-out RBS and Lloyds to be sold

Linda Yueh was interviewed, commenting on the UK banks, RBS and Lloyds, in terms of the additional government funding, rights issues, and restructuring on competition grounds.

The interview was shown on Channel 4 News on November 3, 2009
Link to article

Related Links
Linda Yueh webpage
Globalisation Programme webpage

News Posted: 03/11/2009      [Back to the Top]

Financial Times

How to manage the gigantic financial cuckoo in our nest

Peter Boone of the London School of Economics is mentioned in an article about the state of the financial sector.

This article appeared in the Financial Times Online on October 21, 2009
Link to article

Related Links
Peter Boone webpage
Effective Intervention webpage

News Posted: 21/10/2009      [Back to the Top]

Dostoc.com - blog

Will the credit crunch lead to recession

Recent research by Nick Bloom – as well as research of an earlier vintage by Fed chairman Ben Bernanke – suggests that the impact of the credit crunch on uncertainty will lead to an economic slowdown much worse than we currently anticipate. Article from CEP’s CentrePiece Spring 2008 on this blog site.

This article appeared on Dostdoc.com- blog on 19th October 2009. Link to article

Related links
See all publications by Nick Bloom link
Nick Bloom link
Productivity and Innovation Programme webpage


News Posted: 19/10/2009      [Back to the Top]

Financial Times

Relationship of trust is permanently damaged

Willem Buiter, professor of European political economy at the London School of Economics, says that it is a fallacy to think economic models, particularly those based on history, can hope to understand the fundamental relationships in a large and complex economy.

This article appeared in the Financial Times on October 6, 2009
Link to article

Related Links
Willem Buiter webpage
Globalisation Programme webpage

News Posted: 06/10/2009      [Back to the Top]

Economist

The pedagogy of the privileged

A study by two economists, Nick Bloom of Stanford and John Van Reenen of the London School of Economics, concluded that companies that use the most widely accepted management techniques, of the sort that are taught in business schools, outperform their peers in all the measures that matter, such as productivity, sales growth and return on capital. Many companies in the developing world, not least China, are desperate to hire more MBAs in order to improve their traditionally slapdash approach to management.

This article appeared in the Economist on September 24, 2009
Link to article

Related Publications
What Drives Good Management Around the World? by Nick Bloom, Christos Genakos, Raffaella Sadun and John Van Reenen. Article in CentrePiece, Volume 12, Issue 2 Autumn 2007
Joint McKinsey/CEP Report, Management Practice and Productivity: Why They Matter by Nick Bloom, Stephen Dorgan, John Dowdy and John Van Reenen, July 2007.

Related Links
John Van Reenen webpage
Nick Bloom webpage
Management Practices and Organisationl Structures webpage
Productivity and Innovation Programme webpage

Also in
Intermex Financial – blog by Ricardo Valenzuela

News Posted: 24/09/2009      [Back to the Top]

Computing.co.uk

Innovate with IT to thrive

Dr Alexander Grous from the LSE's Centre for Economic Performance, who has studied the link between IT investment and business performance, said: "The lesson we can draw here is that companies cannot simply save their way back to recovery. Innovation deficits are extremely hard to redress. Organisations that recover best are those investing in areas of the business that can deliver long-term returns — areas such as IT."

This article appeared online on Computing.co.uk on September 2, 2009
Link to article

Also appeared in
iStockAnalyst
[No link available]

Related Links
Alexander Grous webpage
Productivity and Innovation Programme webpage

News Posted: 02/09/2009      [Back to the Top]

FinFacts Ireland

The influence of 'Animal Spirits' on Business Climate Surveys ...

The origins and effects of the crisis were explained to her by Professor Luis Garicano, director of research at the LSE's management department.

This article appeared in FinFacts Ireland on 28th July 2009. Link to article

Related links
Luis Garicano webpage
Productivity and Innovation Programme webpage


News Posted: 28/07/2009      [Back to the Top]

Hindu

Failure of collective imagination, Queen told

“Why did nobody notice?” The Queen asked Professor Luis Garicano, Director of Research at the Department of Management, at LSE obviously concerned about its effect on her own investments which had fallen sharply.

This article appeared in the Hindu on 27th July 2009. Link to article

Related links
Luis Garicano webpage
Productivity and Innovation Programme webpage


News Posted: 27/07/2009      [Back to the Top]

The New York Times

Bankrupt or bailed out?

Article for Economix - Explaining the Science of Everyday Life, written by Peter Boone and Simon Johnson
Peter Boone is chairman of Effective Intervention, a charity based in Britain, and a research associate of the Centre for Economic Performance, London School of Economics.
Another day, another potential bailout decison for the government - yesterday it was the CIT Group.

This article appeared in the New York Times - Economix on July 16, 2009
Link to article

Related Links
Peter Boone webpage
Effective Intervention Programme webpage

News Posted: 16/07/2009      [Back to the Top]

The Economist

Dismal science

Paul Krugman returned to the LSE on June 8th to give the annual Lionel Robbins memorial lectures. Mr Krugman tried to answer two big questions. Why did economists not foresee calamity? And how will the world economy climb out of recession?

This article appeared in the Economist on 11th June 2009. Link to article.

Paul Krugman: The Return of Depression Economics.
For details of the lectures and access to the podcasts go to Lionel Robbins Lectures 2009

News Posted: 11/06/2009      [Back to the Top]

CentrePiece

Spring 2009 Issue Now Out: The Education Issue

Education is always a big issue in public debate. It becomes even more important at a time of crisis, when the economy is in recession, unemployment is rising rapidly and disadvantaged members of society are in danger of becoming even worse off and perhaps permanently 'scarred' by job loss or inability to join the labour market at all.

So how is the UK's education system doing? Over a number of years, researchers at the Centre for Economic Performance (CEP) have been assessing the effectiveness of the nation's educational policies in raising standards. A series of studies has evaluated efforts both to improve the quality of education overall and to tackle the 'long tail' of people without basic skills by giving better opportunities to low-achieving, 'hard-to-reach' children from poorer families.

This CentrePiece provides an overview of the most significant findings across a wide range of policies, including increased resources, the 'choice and competition' agenda and new structures such as academy schools. We also make comparisons with education systems in other countries, and take a look at teachers - both their career decisions and the impact of their expectations on pupil performance.

Key articles include:

Big ideas: education by Sandra McNally; Academy schools and pupil performance by Stephen Machin and Joan Wilson; Assessing pupils' abilities by Stephen Gibbons and Arnaud Chevalier; What works in primary schools? by Olmo Silva; and Going private by Richard Murphy.

To read ALL the articles please go the CentrePiece website at http://cep.lse.ac.uk/CentrePiece - OR -

To keep up to date with the very latest articles from the magazine subscribe to the new CentrePiece webfeed feed/rss



News Posted: 04/06/2009      [Back to the Top]

CEP Visitor

Paul Krugman

Paul Krugman, Professor of Economics and International Affairs at Princeton University, Centenary Professor at LSE and Nobel Laureate. is visiting CEP in June and will deliver the Lionel Robbins Memorial Lectures 2009.

The series titled "The Return of Depression Economics" will be held over three consecutive evenings from Monday 8th June, Tuesday 9th June and Wednesday 10th June.

These lectures will cover the causes of the global economic crisis; the deeply vexed question of how and when the world economy can recover; and the implications of the whole mess for economics and economists.

For more information about the Lectures and how to obain tickets please visit our special events pages:
Link to Lionel Robbins Memorial Lectures: The Return of Depression Economics .

Related Links:

Paul Krugman's webpage

Book: The Return of Depression Economics and the Crisis of 2008 (Paperback)



News Posted: 01/06/2009      [Back to the Top]

Handelsblatt

Klimawandel: Die vergessene Katastrophe

DÜSSELDORF. Wenn Nick Bloom, Ökonomie-Professor im kalifornischen Stanford, über Klimawandel und Weltwirtschaftskrise redet, dann kann das schnell ein bisschen zynisch klingen. Oder ironisch. Dabei meint der Brite das gar nicht so.
“Einen großen Vorteil hat die Wirtschaftskrise”, sagt Bloom, die Rezession habe den Ausstoß von Treibhausgasen rapide gesenkt. “Da arbeiten Heerscharen von Forschern und Aktivisten jahrelang vergeblich daran, dass weniger Treibhausgas in die Atmosphäre geblasen wird”, wundert er sich. “Aber die Einzigen, denen das tatsächlich gelingt, sind die gierigen Wall-Street-Banker.”

This article appeared in Handelsblatt (Germany) on May 29, 2009
Link to article

Related Publications
'The Impact of Uncertainty Shocks: Firm Level Estimation and a 9/11 Simulation', Nick Bloom, Centre for Economic Performance Discussion Paper No.718, March 2006
Will the Credit Crunch Lead to Recession? by Nick Bloom, CentrePiece Volume 13, Issue 1, Spring 2008

Related links
Nick Bloom webpage
Productivity and Innovation Programme webpage

News Posted: 29/05/2009      [Back to the Top]

Financial Times

Labour to put faith in 'job guarantee'

Labour is considering putting a "job guarantee" for anyone unemployed for 18 months at the heart of its election manifesto, as ministers seek ways to offer hope to victims of the recession. The idea for the policy came in a Budget submission to ministers by Paul Gregg, of the Centre for Economic Performance and Bristol University, and Lord Layard, of the Centre for Economic Performance at the London School of Economics.

This article appeared in the Financial Times on May 28, 2009
Link to article

Related Links
Paul Gregg webpage
Richard Layard webpage
Labour Markets Programme webpage

News Posted: 28/05/2009      [Back to the Top]

FinFacts - Ireland

Capitalism entering a new era of lower risk tolerance, higher regulation and slower growth

In a new report, Risk and regulation: A new era for capitalism, sponsored by Dubai Holding, the Economist Intelligence Unit finds that almost 60% of 418 global senior executives surveyed agree that the current crisis has “fundamentally changed” capitalism. Richard Layard (Wellbeing Programme, Centre for Economic Performance) quoted:
“We do not want communism… the communist countries were the least happy in the world and also inefficient. But we do need a more humane brand of capitalism, based not only on better regulation but better values.”- Richard Layard, founder, London School of Economics, The Centre for Economic Performance

This article appeared in FinFacts - Ireland on May 18, 2009
Link to article

Related Publications
'The Marginal Utility of Income', Richard Layard, Guy Mayraz and Stephen Nickell, Centre for Economic Performance Discussion Paper No.784, March 2007
Tackling Unemployment: Europe's Successes and Failures, Richard Jackman, Richard Layard and Stephen Nickell, CentrePiece Vol.10, Issue 1, Spring 2005
CEP Special Report Investment Prospects In Russia by Richard Layard and George Lucas, February 1997
Abstract

Related Links
Richard Layard webpage
Wellbeing Programme webpage
Labour Markets Programme webpage

News Posted: 18/05/2009      [Back to the Top]

Radio 4

The Today Programme

Despite some optimistic talk of signs of economic recovery - optimism not shared by the Bank of England in its latest assessment of things - unemployment is continuing to rise. Lord Richard Layard, director of the Wellbeing programme at the Centre for Economic Performance, discusses if there is a dramatic deterioration in job prospects for young people.

Related Links
Richard Layard's Webpage

Richard Layard's interview on the Today Programme



News Posted: 14/05/2009      [Back to the Top]

CNN.com

Commentary: Is stock rally for real

Simon Johnson, is a professor at MIT Sloan School of Management and former International Monetary Fund chief economist. Peter Boone is a research associate of the Centre for Economic Performance and chairman of Effective Intervention, a UK-based charity.

In their commentary they say we have zombie banks and zombie companies.
Stocks are rallying as if the economy is out of the woods. However, that is premature, and we could be in for a long period of stagnation.

This article appeared in CNN.com (USA) on May 8, 2009
Link to article

Related Links
Peter Boone webpage
Effective Intervention Programme wepage

News Posted: 08/05/2009      [Back to the Top]

The Times

Skilled migrant jobs to be cut by a third

The number of skilled jobs open to immigrants from outside the EU should be cut by 270,000 because of the recession and rising unemployment, the Government's official advisers recommended yesterday. David Metcalf, Professor of Industrial Relations at the London School of Economics and chairman of the Migration Advisory Committee, said that a planned partial review of the shortage list had been more extensive "because we had to respond to the troubled times and economic turmoil in the labour market".

This article was published in The Times on 30 April 2009.

Related Links
David Metcalf's Webpage



News Posted: 30/04/2009      [Back to the Top]

The Daily Star (Bangladesh)

Britain set for crunch recession budget

Britain will unveil a recession-fighting budget this week, seen as vital for Prime Minister Gordon Brown as he struggles to boost his flagging fortunes ahead of a likely election next year. "It's an important budget, and the one by which the government will be judged by in the next general election -- including how it manages this recession," said Oxford University economics professor Linda Yueh.

This article appeared in the Daily Star (Bangladesh) on April 19, 2009
Link to article

Related Links
Linda Yueh webpage
Globalisation Programme webpage

News Posted: 19/04/2009      [Back to the Top]

Guardian

Confidently predicting darker days

That most Britons believe the economy will get worse suggests they misguidedly think things aren't so bad right now, writes Tom Cunningham from the Centre for Economic Performance.

This article appeared in the Guardian on April 8, 2009
Link to article

Related Links
Tom Cunningham webpage
Macro Programme webpage

News Posted: 08/04/2009      [Back to the Top]

Times

Management briefing: Innovation

Yet the opposite is true, according to a report from the Centre for Economic Performance at the London School of Economics (LSE) that finds "that the presence of investors boosts innovation by decreasing the risks faced by chief executives who promote new ideas. Often if things go wrong for reasons beyond their control, the board think that they are bad managers and may fire them, the authors write."

This article appeared in the Times on the 31st March 2009. Link to article.

Related Publications
‘Innovation and Institutional Ownership’ by Philippe Aghion, John Van Reenen and Luigi Zingales, Centre for Economic Performance Discussion Paper No.911 February 2009

Related Links
John Van Reenen webpage
Productivity and Innovation Programme webpage


News Posted: 31/03/2009      [Back to the Top]

Republica (Italy)

Uomini e senza laurea dirigenti made in Italy

Press coverage of the management survey in an Italian newspaper.

This article appeared in Republica on the 27th March 2009. Link to article.

Related Links
Nick Bloom webpage
Raffaella Sadun webpage
John Van Reenen webpage
Productivity and Innovation Programme webpage


News Posted: 27/03/2009      [Back to the Top]

Gulf News

Now is the time to engage in less selfish capitalism

Article written by Richard Layard asking What is progress? The Organisation for Economic Cooperation and Development has been asking this question for some time and the current crisis makes it imperative to find an answer.
Lord Layard is at the London School of Economics Centre for Economic Performance. He has written Happiness (2005) and co-authored A Good Childhood (2009)

This article appeared in the Gulf News on March 19, 2009
Link to article

Related Publications
Happiness: Lessons from a New Science by Richard Layard. Published by Penguin, 2005 Details
A Good Childhood by Richard Layard and Judy Dunn. Published by Penguin, 2009 Details

Related Links
Richard Layard webpage
Wellbeing Programme webpage
Happiness Research webpage

News Posted: 19/03/2009      [Back to the Top]

New Scientist

The credit crunch: what happened?

Work by Nick Bloom at Stanford University in California has shown that even the temporary surges in uncertainty that followed previous shocks had destructive effects.

This article appeared in the New Scientist on the 18th March 2009.
Link to article.

'In brief: The recession will be over sooner than you think’ article in CentrePiece 13(3) Winter 2008/9 Winter 2008/9
'The Impact of Uncertainty Shocks: Firm Level Estimation and a 9/11 Simulation’ by Nick Bloom, Centre for Economic Performance Discussion Paper No.718, March 2006
'Will the Credit Crunch Lead to Recession?' by Nick Bloom. Article in CentrePiece, Volume 13, Issue 1 Spring 2008

Related links
Nick Bloom webpage
Productivity and Innovation Programme webpage


News Posted: 18/03/2009      [Back to the Top]

CBC Radio One (Canada)

The Current

John Van Reenen interviewed on pension funds – that they have a role to play in demanding better corporate governance.

This interview was broadcast on the 13th March 2009.
Link to article.

Related Links
John Van Reenen webpage
Productivity and Innovation Programme webpage


News Posted: 13/03/2009      [Back to the Top]

New York Times

Investors see a glimmer and shares soar worldwide

Nick Bloom, an economist at Stanford University, said that a declining, though still high, volatility in stock markets and “reasonably good” federal policies suggested that the economy should be able to avoid the long stagnation of Japan in the 1990s or the Great Depression. Mr. Bloom, who has studied 16 financial crises before the current one, said the recovery, which he expected in late 2009 or early 2010, should be fairly rapid.

This article appeared in the New York Times on the 13th March 2009.
Link to article.

Related Publications
‘In brief: The recession will be over sooner than you think’ Article in CentrePiece Volume 13(3) , Winter 2008/9. The Impact of Uncertainty Shocks: Firm Level Estimation and a 9/11 Simulation’ by Nick Bloom, Centre for Economic Performance Discussion Paper No.718 , March 2006
'Will the Credit Crunch Lead to Recession?' by Nick Bloom. Article in CentrePiece, Volume 13, Issue 1 Spring 2008

Related Links
Nick Bloom webpage
Productivity and Innovation Programme webpage

News Posted: 13/03/2009      [Back to the Top]

Financial Times

It seems not all recessions are created equal

"The recession will be over sooner than you think", to quote the title of an article in CentrePiece by two US academics, Nick Bloom and Max Floetotto. The bit of history they emphasise is that of uncertainty exhibited in the equity market, measured by the implied volatility of the S&P100, apparently known as the "financial fear factor".

This article appeared in the Financial Times on 12th March 2009.
[No link avaliable]

Related Publications
‘In brief: The recession will be over sooner than you think’ Article in CentrePiece Volume 13(3) , Winter 2008/9. The Impact of Uncertainty Shocks: Firm Level Estimation and a 9/11 Simulation’ by Nick Bloom, Centre for Economic Performance Discussion Paper No.718 , March 2006
'Will the Credit Crunch Lead to Recession?' by Nick Bloom. Article in CentrePiece, Volume 13, Issue 1
Spring 2008

Related Links
Nick Bloom webpage
Productivity and Innovation Programme webpage


News Posted: 12/03/2009      [Back to the Top]

Guardian

You say inflation, I say deflation

Tom Cunningham (Centre for Economic Performance) says that journalists have misunderstood the Consumer Price Index and that, in fact, prices are falling and not rising as they are reporting.

This article appeared in the Guardian on February 27, 2009
Link to article

Related Links
Tom Cunningham webpage
Macro Programme webpage

News Posted: 27/02/2009      [Back to the Top]

Press Release

Money may not buy happiness but neither does poverty

Money May Not Buy Happiness but Neither Does Poverty
In the past 50 years individual levels of wealth have increased by but so have crime, deprivation, depression and addictions to alcohol and drugs. Most of us believe that more money will make us happier; however, as societies become richer, does that wealth positively impact on our happiness?

The 'Recession: health and happiness' event on Thursday 26th February, may well provide a surprising answer. Lord Professor Richard Layard who has spent years researching the impact of wealth on wellbeing will argue the answer is 'not necessarily'.

Details of the event can be found within the News Release.


Related Publications
Happiness: Lessons from a New Science by Richard Layard.
Details

Related Links
Richard Layard webpage
Wellbeing Programme webpage

News Posted: 24/02/2009      [Back to the Top]

Berlin Lunchtime Meeting

Carbon taxes: good for the planet, not bad for economy

INVITATION - Berlin Lunchtime Meeting
on Wednesday, 25 February 2009, 12 to 2pm

DIW Berlin, Mohrenstr. 58, 10117 Berlin
Main Conference Room, Second Floor

Carbon taxes:
Good for the Planet, not bad for Economy

SPEAKER: Dr. Ralf Martin, London School of Economics
COMMENT: PD Dr. Siegfried Gelbhaar, Universität Trier
CHAIR: Prof. Dr. Claudia Kemfert, DIW Berlin

In a recent study supported by the Anglo-German Foundation, researchers from the London School of Economics (LSE) show that carbon taxes can reduce pollution without harming the economy.

In 2001 the UK government introduced a tax on various energy fuels for industry - the Climate Change Levy (CCL). A research team from the Centre for Economic Performance (CEP) at the LSE, led by Ralf Martin, has conducted an in depth evaluation of the effect of this policy on individual firms using a representative sample of the UK economy which includes detailed data on more than 10.000 enterprises.

They found that the Climate Change Levy - which on average corresponds to a £20 carbon tax per ton - has had a strong impact on power usage by companies and reduced electricity consumption for the average manufacturing firm by 10 to 20 percent. The economists also examined whether the levy had had any adverse impacts on economic performance of companies in areas such as employment or productivity. They did not find any evidence for this.

Ralf Martin summarises the outcome of the research as "good for the planet and not bad for the economy". He goes even further, suggesting that an increase in carbon taxes and a simultaneous reduction of taxes on wages and employment could be the ideal policy measure in the current crisis, as it would secure existing jobs without leading to more government borrowing.

Registration is required. Please send an email to: events@diw.de. We look forward to your participation.

Venue: Deutsches Institut für Wirtschaftsforschung (DIW)
Main Conference Room, 2nd floor, Mohrenstr. 58, 10117 Berlin
Map

Ralf Martin is a British Academy Postdoctoral Research Fellow at the Centre for Economic Performance and the Grantham Institute for the Study of Climate Change at the London School of Economics. He studies business behaviour and performance. Currently, his main research interest is the determinants of business sector greenhouse gas emissions and the impact and design of climate change policies for business.

News Posted: 23/02/2009      [Back to the Top]

Guardian

We need to outgrow our debt

Deflation is still a risk – we should press on with quantitative easing even though prices aren’t sliding quite as fast. Column by Tom Cunningham of the Centre for Economic Performance, LSE.

This article appeared in the Guardian on February 18, 2009
Link to article

Related Links
Tom Cunningham webpage
Macro Programme webpage

News Posted: 18/02/2009      [Back to the Top]

LSE Public Lecture

The Global Economic Crisis-Meeting the Challenge

The LSE is holding a number of public lectures with key academics, business leaders and politicians who will examine the issues raised by the ongoing crisis.

On Tuesday 17th February 2009 the first public lecture in the current series, Global Economic Crisis - Meeting the Challenge took place in The Old Theatre. The speakers were Professor Tim Besley, Professor Francesco Caselli, Professor Chris Pissarides, and Professor Danny Quah and in the Chair, Professor Lord Richard Layard.

This panel discussion focused on the current global economic crisis: its origins, transmission, and possible impact and resolution.

Listen to the Podcast: MP3



News Posted: 17/02/2009      [Back to the Top]

LSE Public Lecture

A Good Childhood: searching for values in a competitive age

This public lecture was held on Wednesday 11 February 2009, in the Old Theatre, Old Building, LSE.

Speakers: Professor Judy Dunn, Professor Lord Richard Layard

Is childhood all it should be? Or has it been spoilt by broken homes, junk food, alcohol and exam stress? The speakers will present the findings of The Good Childhood Inquiry.

Judy Dunn is professor of developmental psychology at King’s College London, and was chair of The Good Childhood Inquiry. Richard Layard is director of the Well-being Programme in the LSE Centre for Economic Performance.

Listen to the Podcast: MP3



News Posted: 11/02/2009      [Back to the Top]

The Independent

Good intentions, perverse incentives

Luis Garicano, a Professor of Economics at LSE, thinks that the effect of the global market on incentives can go some way to explaining the current financial crisis. Applying his model of incentives to the world of football, he demonstrates that it is only when we consider rewards that we can understand the way the economics of such diverse situations operate.

Big Ideas is a series of films featuring leading academics from the London School of Economics and Political Science presenting novel and often bold solutions to some of the problems facing British society today. The series has been made specially for Independent.co.uk by Ember Regis in conjunction with LSE.

This film was posted to The Independent Online - Commentators on February 4, 2009
Link to film and information

Related Links
Luis Garicano webpage
Productivity and Innovation Programme webpage

News Posted: 04/02/2009      [Back to the Top]

Examiner (Ireland)

'Me first' society endangers children

AN AGGRESSIVE pursuit of personal success by adults is the “greatest threat” to the wellbeing and happiness of children, according to a landmark inquiry published in Britain yesterday. Speaking at a news conference to launch the report, Professor Lord Richard Layard, Emeritus Professor of Economics at the London School of Economics and a member of the inquiry panel, said excessive individualism had filled the vacuum left by a decline in religious belief and social solidarity.

This article appeared in the Examiner on the 3rd February 2009.
Link to article.

Related Publications
The Good Childhood Inquiry will be published on 4 February Details
Happiness: Lessons from a New Science by Richard Layard Details
Other publications by Richard Layard Details

Related Links
Richard Layard webpage
Wellbeing Programme webpage
Mental Health Group webpage


News Posted: 03/02/2009      [Back to the Top]

The Guardian

Look beyond number one

Despite greater affluence, life has become more difficult for our children. According to yesterday's A Good Childhood report, this increased stress is due to the excessive individualism in our society, which produces increased family break-up, excessive pressure to consume, too much exam stress and too great inequality.

These are not nostrums but carefully documented facts, leading to specific targeted proposals. Surveys show that, since around 2000, one in six of our children have been suffering from serious emotional or behavioural problems, compared with only one in 10 some 15 years earlier. The problem arises in every social class. What causes it?

Read the full article by Richard Layard on the Guardian Online - Comment is freeLook beyond number one: Schools should take the lead in helping our young people to find a sense of purpose published 03 February 2009.

Lord Layard is co-author of the Children's Society-commissioned report A Good Childhood

Related Publications
A Good Childhood: Searching for Values in a Competitive Age by Richard Layard. Details

Related Links
Richard Layard webpage
Wellbeing Programme webpage
The Children's Society - The Good Childhood Inquiry



News Posted: 03/02/2009      [Back to the Top]

The Guardian

Children paying price for adults' pursuit of success, says report

The wellbeing of millions of children across Britain is being damaged by adults' aggressive pursuit of personal success, a three-year inquiry by the Children's Society concluded today.

The society blamed the problems of young people on "a belief among adults that the prime duty of the individual is to make the most of their own life, rather than contribute to the good of others".

It said this "excessive individualism" was the cause of high rates of family break-up, unhealthy competition in schools, unprincipled advertising and acceptance of income inequality that left millions of children living in poverty.

The report, A Good Childhood, called for a return to traditional moral values. Its most controversial target was the increasing economic independence of women.

Read the full article : Children paying price for adults' pursuit of success, says report from The Guardian, 02 February 2009.

Related Publications
A Good Childhood: Searching for Values in a Competitive Age by Richard Layard. Details

Related Links
Richard Layard webpage
Wellbeing Programme webpage
The Children's Society - The Good Childhood Inquiry



News Posted: 02/02/2009      [Back to the Top]

BBC News

Selfish adults 'damage childhood'

The aggressive pursuit of personal success by adults is now the greatest threat to British children, a major independent report on childhood says.

It calls for a sea-change in social attitudes and policies to counter the damage done to children by society.

Family break-up, unprincipled advertising, too much competition in education and income inequality are mentioned as big contributing factors.

A panel of independent experts carried out the study over three years.

The report, called The Good Childhood Inquiry and commissioned by the Children's Society, concludes that children's lives in Britain have become "more difficult than in the past", adding that "more young people are anxious and troubled".

The inquiry's final report and recommendations, A Good Childhood, is written by Richard Layard and Judy Dunn and published by Penguin on 4th February 2009.

Listen to Lord Layard on the Today Programme (BBC Radio 4) on 2nd February 2009.

Related Publications
A Good Childhood: Searching for Values in a Competitive Age by Richard Layard. Details

Related Links
Richard Layard webpage
Wellbeing Programme webpage
The Children's Society - The Good Childhood Inquiry



News Posted: 02/02/2009      [Back to the Top]

The Daily Telegraph

Broken Britain needs lessons in love

British children need lessons in love and moral responsibility to combat the growing culture of greed and individualism, a landmark report has advised.

The report entitled 'A Good Childhood' also recommends report cards for youngsters to monitor their emotional wellbeing.

Its authors found Britain has been damaged by rampant individualism and states the country is one of the worst affected in the western world

The report's lead authors are Lord Layard, emeritus professor at the London School of Economics and former adviser to Tony Blair on wellbeing; and Judy Dunn, professor of developmental psychology at the Institute of Psychiatry in London.

This article Broken Britain needs lessons in love was published in The Daily Telegraph, 01 February 2009.

Related Publications
A Good Childhood: Searching for Values in a Competitive Age by Richard Layard. Details

Related Links
Richard Layard webpage
Wellbeing Programme webpage
The Children's Society - The Good Childhood Inquiry



News Posted: 01/02/2009      [Back to the Top]

The Sunday Times

Our children's blighted lives

Ask yourself this: do you ever fight with your other half in front of the children? Do you leave them to their own devices when they are on the computer? Have you ever sat them in front of the television instead of taking them out for a walk?

According to A Good Childhood - a report commissioned by the Children's Society and produced by the independent Good Childhood Inquiry, which undertook the biggest investigation into childhood conducted in the UK - these types of parental shortcomings are the hallmarks of British parenting.

In an attempt to assess how we could do it better, a group of experts, including Richard Layard, emeritus professor of economics at the London School of Economics who heads its investigations into wellbeing, have spent two years sifting through reports and contributions from some 35,000 people. They have tried to understand why British kids fare the worst of all the children in the 21 developed nations. That's worse than Germany, Scandinavia, Finland and even France.

Read the full article Our children's blighted lives, from The Sunday Times published 01 February 2009.

Related Publications
A Good Childhood: Searching for Values in a Competitive Age by Richard Layard. Details

Related Links
Richard Layard webpage
Wellbeing Programme webpage
The Children's Society - The Good Childhood Inquiry



News Posted: 01/02/2009      [Back to the Top]

Zeit online

Der Schock sitzt tief

Die Krise der Weltwirtschaft zieht Deutschland hinab. Wie lange die globale Rezession anhält, ist ungewiss. Für drei US-Ökonomen ist das ein Grund zur Hoffnung.
Article by Von Philip Faigle on paper by Nick Bloom and Max Floetotto, regarding uncertainty and the recession.

This article appeared in Zeit online on January 11, 2009
Link to article

Related Publications
‘The Impact of Uncertainty Shocks: Firm Level Estimation and a 9/11 Simulation’ by Nick Bloom, Centre for Economic Performance Discussion Paper No.718, March 2006
'Will the Credit Crunch Lead to Recession?' by Nick Bloom. Article in CentrePiece, Volume 13, Issue 1 Spring 2008
'The Recession Will Be Over Sooner Than You Think' by Nick Bloom and Max Floetotto. Article forthcoming in CentrePiece, Volume 13, Issue 3, Winter 2008/9

Related Links
Nick Bloom webpage
Productivity and Innovation Programme webpage

News Posted: 11/01/2009      [Back to the Top]

Financial Times

Joblessness peak set to near 3m

Economic Outlook 2009. Unemployment is likely to rise to near 3m, adding 1m people to dole queues and returning the country to a position not seen since the early 1990s. Tim Leunig of the London School of Economics said: "People aged over 50 who lose their job may well not get another one, and certainly not one on their current wage rates."

This article appeared in the Finanical Times on the 2nd January 2009.
Link to article.

Related Links
Tim Leunig webpage
Globalisation Programme webpage


News Posted: 02/01/2009      [Back to the Top]