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Time for an Economics Reformation!

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University College London

Room G10, Chandler House

2 Wakefield Street

London

WC1N 1PF

United Kingdom

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*THIS EVENT IS SOLD OUT*

A Panel to kick-start an Economics Reformation!

with...

* Victoria Chick, Emeritus professor of Economics at UCL *

* Steve Keen, author of ‘Debunking Economics’ *

* Mariana Mazzucato, author of ‘The Entrepreneurial State’ *

* Kate Raworth, author of ‘Doughnut Economics’ *

* Sally Svenlén from Rethinking Economics *

LOCATION: University College London, Room G10, Chandler House, 2 Wakefield Street, London WC1N 1PF
DATE: 12th December 2017
TIME: 6pm

AFTER PARTY: see below!
See below for more info

All are invited to the after-party, sponsored by the UCL Institute for Innovation and Public Purpose, from 8pm at the Resting Hare pub, Woburn Walk 8- London, 11 Upper Woburn Pl, Kings Cross WC1H 0JW (https://www.restinghare.com/ )

To celebrate the 500th anniversary of Martin Luther's 95 Theses against the Catholic Church, a group of free-thinking Economists and students seek to challenge the current economics dogma and investigate the shaky foundations of the neoclassical faith. Challenging its assumptions about the nature of the economy, the creation of money, the behaviour of markets, the origins of growth, and the causes of crises.

We are proposing a new '95 Theses of the Economics Reformation’ to be discussed, challenged and debated by this panel and the audience, and nail our demands to the door of the economics establishment to mark the beginning of a new economics reformation!

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Five hundred years ago in Europe, a single belief system dominated all public discourse: Catholic Christianity. Those held to be experts in this set of beliefs held immense power, since it enabled them to claim unique authority in all matters – from the rules of behaviour, to the right to rule. Kings and Queens listened to their advice, and feared their criticism. Intellectuals submitted to the confines of their ideology, as to break free from it took exceptional imagination and courage. Ordinary people may have had misgivings, but the priests protected their theories by speaking in a language that the public could not understand, concealing any contradictory evidence.

There is now a similar situation in Neoclassical economics. It has developed as a belief system does, deriving all its theories from some founding principles which themselves pass unquestioned. It's come to dominate public debate and decision-making; and its proponents claim special authority to pronounce on all matters – from money and savings to migration and sovereignty. Its teaching has taken on the characteristics of indoctrination: students are asked to memorise and repeat rather than to criticise and evaluate. Those who dispute its fundamental theories are ignored or marginalised. Its apparently sophisticated mathematical language presents to the public a veneer of expertise, while obscuring value judgements, guesswork and uncertainty which is, at times, as unworldly as any belief system based on faith.

Five hundred years ago, Martin Luther broke the grip of the monopolistic belief system of his time, with ’95 theses’ setting out its faults clearly in the common language, making them plain for all to see, and proposing the beginnings of a new way forward. We will propose a new '95 Theses of the Economics Reformation’, to be discussed, challenged and debated by this panel and the audeince, and nail our demands to the door of the economics establishment to mark the beginning of the new economics reformation.

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A Rethinking Economics and New Weather Institute event, run in collaboration with UCL Economist's Society.

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University College London

Room G10, Chandler House

2 Wakefield Street

London

WC1N 1PF

United Kingdom

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