Episode Details

As the economic crisis continues to felt across the world, how should we think of the banking sector that, even if it didn't directly cause the crisis, at least failed to put a halt to it?

Uploaded 13-01-12

Since it was the banks' inflating of the bubble that brought about the crash, we might expect some sort of penalization of those responsible. However, we see those same people are being rewarded for their failure; receiving bonuses on top of large salaries, for work which has plunged us into a global financial crisis.
The countering argument is that these rewards are essential to stimulate growth, our means of climbing out of the crisis, but should we buy this? What are the economics behind all of this and how are we to make sense of it?
Economist and politician, Matthew Hancock, addresses this question and leads us to the policy solutions that are there if we re brave enough to take them.

The transcript and downloadable versions of the lecture are available from the Gresham College website:
http://www.gresham.ac.uk/lectures-and-events/how-do-we-deal-with-rewards-for-failure-while-supporting-growth

Gresham College has been giving free public lectures since 1597. This tradition continues today with all of our five or so public lectures a week being made available for free download from our website.
http://www.gresham.ac.uk



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