Nobel Perspectives: on a post COVID-19 world
Joseph E. Stiglitz
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Joseph E. Stiglitz
As part of the ÃÛ¶¹ÊÓƵ Nobel Perspectives program we are pleased to bring you a webinar series that allows you to ask your questions directly to Nobel Laureates in Economic Sciences.
ÃÛ¶¹ÊÓƵ Nobel Perspectives addresses the questions shaping our world, cutting through the noise, and holds the largest content library of Nobel Laureate interviews.
Joseph Stiglitz, Nobel Laureate was awarded the prize for Economic Sciences in 2001 for his pioneering work on asymmetric information which can provide the key to understanding many observed market phenomena, including unemployment and credit rationing. He has been the chief economist of the World Bank as well as chairman of the Council of Economic Advisors to former US President Bill Clinton. He joined Evan Brown, Head of Multi-Asset Strategy, in a webinar to discuss in detail the implications of the pandemic and what it means for investors.
Key webinar takeaways
Evan Brown, Head of Multi-Asset Strategy, ÃÛ¶¹ÊÓƵ Asset Management
With much of Joseph's research focusing on financial crises, climate change and inequality, this webinar was a prime opportunity to tap into the mind of one of the world’s greatest thinkers amid such uncertain times.
Joseph Stiglitz’ prize winning research was based on markets operating with imperfect or asymmetric information where one party has better or more information than the other, a primary contributor to economic inequality.
To set the scene, the National Bureau of Economic Research (NBER) officially declared the US entered into a recession in February. We are already out of the labelled recession which means we could have possibly seen one of the shortest but deepest recessions of all time, as now we enter recovery.
A combination of weakened balance sheets, increase in bankruptcies and extremes in precautionary behavior, is a recipe for a deficiency in aggregate demand.
Q&A:
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Meet the members of the team responsible for ÃÛ¶¹ÊÓƵ Asset Management’s strategic direction.