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SUMMARY:St Catharine's Political Economy Seminar Series: Valpy Fitzgerald 
  - Valpy Fitzgerald\, Oxford University
DTSTART:20151007T170000Z
DTEND:20151007T183000Z
UID:TALK60973@talks.cam.ac.uk
CONTACT:Philippa Millerchip
DESCRIPTION:Speaker\nValpy Fitzgerald is Emeritus Professor of Internation
 al Development Finance at Oxford University and Emeritus Fellow of St Anto
 ny's College. He holds a PhD in economics from Cambridge (Churchill\, 1972
 ) and has held faculty posts in Cambridge\, The Hague and Oxford. Valpy wa
 s recently awarded a Doctor Honoris Causa by Madrid University for his con
 tributions to modern critical economics in Spain. His current research foc
 usses on the implications of international tax coordination for the recons
 truction of the 'social contract' in democratic open economies.\n\nTalk Ov
 erview:\nValpy Fitzgerald will explore the perspective for OECD economies 
 over the next decade from the viewpoint of the unprecedented level of publ
 ic debt overhang\; itself the result of socialising large private banking 
 asset portfolios and providing subsidised liquidity thereafter. The altern
 ative macroeconomic paths towards reducing the debt/gdp ratio have radical
 ly different implications for income\ndistribution: between social classes
 \, between national economies\, and between age cohorts\; bearing in mind 
 that OECD public debt is not only a systemic liability (backed by future f
 iscal surpluses) but also a key asset for wealth holders. These outcomes i
 n turn are liable to have severe political economy consequences.\n\nwww.po
 liticaleconomy.group.cam.ac.uk\n
LOCATION:SCR\, St Catharine's College
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