The Drayton Discourse: Recent Episodes
The Economist's Society
The Drayton Discourse is an exciting podcast series brought to you by the Academic Events team of The Economist’s Society, here at University College London! Our episodes allow you to listen in to stimulating discussions with world-renowned economists. From ground-breaking ideas to revolutionary research, our guests share their thoughts, opinions and, most interestingly, personal stories which put together, teach us a good deal of economics and a great deal of life.
In this episode, economist, political scientist, and author James A. Robinson shares his insights on a varied range of topics including the influence of culture, the vicious cycle of extractive institutions, and establishing trust in the government. He also highlights the need for understanding context when it comes to the use of economic models as basis forming policies.
Professor Robinson also gives his thoughts on where he would choose to live 50 years from now.
0:00 Introduction
1:29 Career
8:13 Interplay of culture and institutions
22:41 Political Economy
38:22 Building and Developing an Effective State
48:51 Thought Experiment
In this episode, economist Professor Steve Keen shares his thoughts on an array of topics including the shortcomings of neoclassical economics, financial instability, debt and deregulation. He also discusses the intersection of politics and economics through the lens of his candidacy for the senate in the most recent Australian election. He highlights the importance of government policies to tackle issues such as global private debt and the looming climate crisis.
Professor Steve Keen also gives his policy recommendations to global leaders and his advice to students reading economics.
0:00 Introduction
1:10 Debunking Economics
10:48 Financial Instability, Debt and Deregulation
18:43 Intersection of Politics and Economics
27:12 Thought Experiment
In this episode, economist Professor John Van Reenen shares his insights on an interesting array of topics including the future of ideas, how to influence sustainable long-term growth, and the balance of innovation and intervention. He highlights the importance of government policies to create the scientists of the future to tackle problems such as “The Lost Marie-Curie” effect and diminishing marginal returns to productivity.
Professor Van Reenen also gives his take on time travel and what innovation looks like 50 years down the road.
0:00 Introduction
3:12 Ideas and Innovation
12:01 Fall of Labour Share
20:56 Thought Experiment
In this episode, development and political economist Professor David Yanagizawa-Drott shares his views on a number of areas including the importance of social norms, the impact of protests, and how to navigate media regulation alongside free speech. He emphasises the applicability of behavioural trends to various topics, such as female labour market participation and the Rwandan genocide.
Professor Yanagizawa-Drott also gives his advice to young economists and students interested in research, as well as giving us an insight on who he would like to meet from the past.
00:00 Introduction
05:05 Social norms and pluralistic ignorance
13:52 Media and protests
40:35 National celebrations
45:03 Thought experiment and advice
What is the role of big cities in the post-pandemic world? Could there be another “White Flight” after the civil unrest and COVID-19 in the US? In our last episode of the Drayton Discourse for this summer, the Economist’s Society is proud to host Prof Leah Boustan, an economist at Princeton University. In this episode, we discuss the use of technology to aid research in economic history, how more women can participate in Economics today, and to what extent has COVID-19 impacted patterns of migration and urbanisation. Prof Boustan also shares her insights on racial issues plaguing society today, and which pattern of events in history she was most impressed by.
Could the platform/gig economy become sustainable? To what extent can the education system help people lower their consumption levels? In our 3rd episode of The Drayton Discourse, we are proud to host Prof Juliet Schor, a sociologist at Boston University. Hear her talk on her career shift from economics to sociology, the challenges of the platform economy, and the trends in growth and consumption today.
Should COVID-19 vaccine patents be waived? What is the role of GDP today? We are proud to have Mr Tim Harford, the Undercover Economist himself, on our second episode of the Drayton Discourse. Hear him talk about his fantastic career (including stints in Shell, the World Bank and the Financial Times), his latest book "How to Make the World Add Up", and which historical figure he would love to host on his podcast.
Is technology contributing to making the world safer? What is the role of academia and politics today? Hear Professor Yanis Varoufakis talk about his views on the recent decisions by the G7, the EU and more today!
Ever heard of the saying “Basic goods are basic rights”? Keen on learning the future of international trade? In this episode, deepen your understanding of multilateral trade agreements and discover a new way to measure human progress by listening to American public policy expert and international economist Professor Kenneth A. Reinert!
Professor Reinert discusses everything from the impact of the Trump administration on the WTO to the drivers and obstacles to economic growth. Further, he highlights how narrowing the agenda from the 169 SDGs to 10 Basic Development Goals can be a more effective way of creating capabilities. Last but not least, our esteemed guest shares motivational advice and supportive words for graduating students all across the world.
Pondering about the financial implications of Covid-19? Intrigued by new economic tools argued in the news? Let your questions be answered by the American macroeconomist, former Board member of the Fed and Harvard academic, Professor Jeremy Stein!
In this episode, our distinguished guest gives his opinion on how the pandemic is being addressed by policymakers, shares his thoughts on unorthodox ideas, such as Modern Monetary Theory (MMT), and reveals key insight on his career as an academic and at the Fed. In our thought experiment, Professor Stein muses about a better integration between the two main components of the Fed: monetary policy, and regulation and financial stability.
Is foreign aid truly benefiting developing countries? Or is it violating the freedoms of the vulnerable? In this episode, listen in to our discussion with world-renowned development economist and author of The White Man’s Burden, Professor William (Bill) Easterly as he talks about the rights of the poor, the politicization of development, tackling racism in economics and a lot more!
Profound and reflective, our personal section features Professor Easterly discussing the importance of humility and reciprocity in economists. Further, he also shares his experiences working at the World Bank! Our thought experiment takes us back to the founding of the Bank and unearths early mistakes that have led to some of its shortcomings.
Curious about the future of globalisation? Wondering what’s in store for the European Union? Listen to our second episode featuring none other than the Chief Economics Commentator of the Financial Times, Martin Wolf! He discusses everything from the Next Generation EU to structural changes in supply chains, government propaganda to a brilliant analysis of the economic and cultural consequences of the crisis. Thought-provoking and powerful, our personal section features Mr Wolf sharing his motivation for getting into economics, crucial lessons he learnt during his career and the ‘accidents’ that shaped his life!
Finally, we confront our world-class guest with a novel thought experiment that takes us back to The United States in the 1930s, reflecting on the economic decisions that led to the Second World War.
Ever wondered how governments ‘nudge’ our behaviour or what the universe of Star Wars could teach us about our world? In our first episode, renowned American legal scholar, former advisor to the White House and co-author of Nudge, Professor Cass Sunstein shares his views on COVID-19 and libertarian paternalism, reveals unexpected insight about Taylor Swift and shares valuable life advice for students all around the world!