School of Economic Science - Study Forums

[Leonie Humphreys]

I am delighted to post Ian Mason’s lecture ‘Opportunity out of Crisis’ on the Forum.

Ian Mason is Head of Economics and Law and Principal of the School of Economic Science and this lecture was delivered as the Annual Economics Lecture on 9th February 2009.

I have copied below an extract from his lecture:

‘The opportunity presented by the present crises is to make the right choices that will affect the long term future for ourselves, our descendants and our planet. Many of the prescriptions that we read in the newspapers are about how quickly we can return to business as usual. How soon we can return to the myth of sustained economic growth and once more rising house prices. Most of them admit to the need for a more carefully regulated banking and financial system with more controls on the spread and dispersion of toxic assets. But there are not many who dare to contemplate a whole new economic order.

But that is the real choice we face. We can, if we choose, rebuild the crumbling building of contemporary economics – and it will have the same faults and weaknesses as before with minor variations. But the real opportunity is to rethink the entire architecture of economics and build a new economic order that conforms much more closely to Nature and her laws.’

Your comments, observations and questions are welcome.

[Michael Shepherd]

Leonie,

Thank you -- and thanks to Ian Mason -- for posting that magnificent lecture so that all can read it.

A sage told me many years ago that, as a writer, all I could 'do' was to speak or write the truth as I understood it, and then 'put it on the desk' of those whose duty it is to implement the truth... There my duty ended, and theirs began, according to their character..

I hope that those with means to do so, might put Mr Mason's lecture onto the desks and into the email inboxes of those whom they consider might have ears to hear.

Michael

[Katharine Watson]

I have signed up to these study forums specifically so that I could say how brilliant I thought Ian Mason's lecture on the current economic crisis. I feel very strongly that it should be published, preferably in one or all of the broadsheet newspapers. (Perhaps the New York Times might also be interested? They generally publish much longer and more serious articles than our press.) It would need, of course, to be edited somewhat for the purpose - e.g. references to the School and Mr MacLaren might baffle readers unless carefully reworded. And the piece would probably need to be a bit shorter - perhaps quite a lot shorter. But it must be worth a try. Ian's position as head of the Economics Faculty could well give him enough authority to be acceptable.

Past experience of the School (perhaps no longer relevant) suggests that insufficient effort will be made to get this into the public domain. Can I urge anyone with influence to try their hardest to get it out there?

As someone who left the School not very long ago, I find it very encouraging to watch, as it were from the sidelines, as all sorts of things develop. Ian's lecture is one of the most intelligent pieces I've read in a long time, and it struck me as spot on. As everyone staggers around in confusion at all this banking crisis, such a clear, sane voice, and such intelligent reasoning is an oasis in the desert. I don't know if Ian himself reads this forum, but if he does, congratulations Ian, and thank you for your sanity.

My very good wishes to everyone involved.

Katharine

[John Boonham]

Katharine,

I am pleased that you have registered on this forum and your remarks very much echo my own. In fact the whole idea behind these forums was to be a venue where to use Peter Blumsom's phrase (of the Plato Forum) we can "float our currency".

I too was surprised (but pleased) that it took very little time to publish the transcript of Ian Mason's presentation on 9th February 2009. I also agree that an edited down version might find space on the more thoughtful economic periodicals and their like, if it was offered.

[Michael Shepherd]

'Let no man believe that he has no influence..' (Henry George)

Thank you, Katharine and John... and isn't there anyone, someone, in the Economics Faculty who could give some time to putting Ian's summation onto the right desks and into the right inboxes ?

Even if celebrated 'authorities' shot Ian's oration down in flames, it would be as grist to the mill in terms of attention given..

Time to do more than 'float our paper currency' -- time to throw a handful of gold-standard coins at random...

Michael

[Katharine Watson]

How about Vincent Cable? St James Senior Boys' School has a contact there.

[Michael Shepherd]

Far be it from me to make pushy suggestions.. but if Christian Daw were to arrange a public afternoon discussion at St J when Parliament is not sitting, between Vincent Cable, Liberal Democrat MP for Twickenham, and Ian Mason, on 'Opportunity out of Crisis'; chaired by a Pincham or two...it could be educative..

And those with a taste for history might savour the thought that this discussion would occur just above the grotto where Alexander Pope revised his 'Essay on Man'..

Michael

[Leonie Humphreys]

Ian Mason mentions philosophy on several occasions in his speech about opportunities at this time of crisis. He mentions in particular that philosophy must be related to justice. It would be interesting to discuss this aspect of his talk in more detail.

I came across this quote and found it apposite:

'If ordinary people really knew that consciousness and not matter is the link that connects us with each other and the world, then their views about war and peace, environmental pollution, social justice, religious values, and all other human endeavours would change radically.'
— Amit Goswami from The Self-Aware Universe

My question is: how may this change our views?

Leonie

[Peter Blumsom]

MONEY FOR NOTHING
Words and music - Mark Knoffler
Performed by Dire Straits

Now look at them yo-yo's that's the way you do it
You play the guitar on the MTV
That ain't workin' that's the way you do it
Money for nothin' and your chicks for free
Now that ain't workin' that's the way you do it
Lemme tell ya them guys ain't dumb
Maybe get a blister on your little finger
Maybe get a blister on your thumb

We gotta install microwave ovens
Custom kitchen deliveries
We gotta move these refrigerators
We gotta move these colour TV's

(See the little faggot with the earring and the makeup
Yeah buddy that’s his own hair
That little faggot got his own jet airplane
That little faggot he’s a millionaire)

Gotta install microwave ovens
Custom kitchen deliveries
We gotta move these refrigerators
Gotta move these colour TV's

I shoulda learned to play the guitar
I shoulda learned to play them drums
Look at that mama, she got it stickin' in the camera
Man we could have some
And he's up there, what's that? Hawaiian noises?
Bangin' on the bongoes like a chimpanzee
That ain't workin' that's the way you do it
Get your money for nothin' get your chicks for free

We gotta install microwave ovens
Custom kitchens deliveries
We gotta move these refrigerators
We gotta move these colour TV's

Look a' here
That ain't workin' that's the way you do it
You play the guitar on your MTV
That ain't workin' that's the way you do it
Money for nothin' and your chicks for free
Money for nothin' and chicks for free

Money for nothin' and your chicks for free

Look at that, look at that

Money for nothin' and your chicks for free
I want my, I want my, I want my MTV
Money for nothin' and chicks for free

(Fade)
I want my, I want my, I want my MTV

was banking the new r&r?