The Power of Innovation and the Future of Capitalism

Programme:
18.15 Welcome and Introduction (Prof. Rolf Weder)
18.20 Keynote (Prof. Philippe Aghion)
19.05 Panel Discussion (Prof. Philippe Aghion, Prof. Frank C. Krysiak & Prof. Rolf Weder) including Audience
19.45 Apéro

The purpose of this lecture is to:
1. Penetrate some of the great historical enigmas associated with the process of world growth, such as industrial takeoff, major technological waves, secular stagnation, the evolution of inequality, convergence and divergence across countries, the middle-income trap, and structural change.
2. Revisit the great debates over innovation and growth in developed nations: Can we foster innovation and creative destruction while at the same time protecting the environment and reducing inequality? Can we avoid creative destruction's potentially detrimental effects on employment, health, and well-being? Must we fear the digital and artificial intelligence revolutions?
3. Rethink the role of the state and civil society: What role can each of them play to stimulate innovation and creative destruction and thereby increase the wealth of nations? How can we protect citizens and the economy from the excesses of capitalism?

Speaker:
Philippe Aghion is a Professor at the Collège de France, at INSEAD, and at the London School of Economics, and a fel- low of the Econometric Society and of the American Acad- emy of Arts and Sciences.
His research focuses on the economics of innovation and growth. With Peter Howitt, he pioneered the so-called Schumpeterian Growth theory which became a leading par- adigm to analyze the interplay between growth, innovation, market structure, and firm dynamics. Much of this work is summarized in their joint books Endogenous Growth Theory (MIT Press, 1998) and The Economics of Growth (MIT Press, 2009), in his book with Rachel Griffith on Competition and Growth (MIT Press, 2006), in his survey “What Do We Learn from Schumpeterian Growth Theory” (joint with U. Akcigit and P. Howitt), and more recently in The Power of Creative Destruction (joint with C. Antonin and S. Bunel).
In 2001, Philippe Aghion received the Yrjo Jahnsson Award of the best European economist under age 45, in 2009 he received the John Von Neumann Award, and in March 2020 he shared the BBVA “Frontier of Knowledge Award” with Peter Howitt for “developing an economic growth theory based on the innovation that emerges from the process of creative destruction”.

Panel:
Prof. Frank C. Krysiak is Professor of Environmental Economics at the University of Basel. His research focuses on the interaction of economics with ecology and politics, economic theories of sustainabil- ity, and the effects of environmental policy on technological progress, with applications to climate and energy transition.

Host:
Prof. Rolf Weder is Professor of International Economics at the University of Basel. His research focuses on the effects of globalization on countries and the environment. He is co-leader of a project on innovation (Innoscape.ch) at the Center for International Economics and Business (CIEB).

Admission is free, registration is appreciated. More information ant registration for the event using this link:
https://wwz.unibas.ch/de/aktuell/events/details/lecture-philippe-aghion/

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