Start Time: 6:00pm
End Time: 8:00pm
Speaker: Perry Mehrling
Location: 412 Schapiro CEPSR, Davis Auditorium
Both economics and finance have made tremendous analytical progress with models that fundamentally abstract from money. One consequence is that both were fundamentally unprepared for the financial crises that have been sweeping the globe since 2007; these events make clear that the next step forward, for both economics and finance, requires bringing money back in, and at a fundamental level.
A historical perspective, on both economics and finance and on the shifting relationship between the two fields, helps to orient ourselves for the task ahead.
Perry G. Mehrling, Professor of Economics, joined the faculty of Barnard in 1987, where he teaches courses on the economics of money and banking, the history of finance, and the financial dimensions of the U.S. retirement, health, and education systems. His most recent book is The New Lombard Street: How the Fed became the dealer of last resort (Princeton 2011). His best-known book Fischer Black and the Revolutionary Idea of Finance (Wiley 2005, 2012) has just been released in a revised paperback edition. Prof. Mehrling serves as member of the Advisory Board of the Institute for New Economic Thinking, and posts bi-weekly at the Money View blog, ineteconomics.org/blog/money-view.