I am here today:
INET: Human After All - April 10-12: The Institute for New Economic Thinking is hosting its fifth annual conference with its partner the Centre for International Governance Innovation (CIGI) at the Fairmont Royal York Hotel in Toronto. The conference topic is the economics of innovation and the impact of innovation on society. Speakers will include a roster of newsmakers, including former U.S. Treasury Secretary Larry Summers, Nobel laureates Joseph Stiglitz and James Heckman, former co-CEO of Research In Motion Jim Balsillie, Bank of England Chief Economist Andy Haldane, former head of the U.K. Financial Services Authority Adair Lord Turner, Harvard University professor and best-selling author Michael Sandel, and author, essayist and President of PEN International, John Ralston Saul. Watch Live beginning at noon EST.
I will post the conference schedule as soon as I can -- for some reason it's not yet available
Update: Today's schedule (I'll post Friday and Saturday later):
CANADIAN ROOM 1:00–2:45 PM LUNCH KEYNOTE ( OPENING ) Is Innovation Always A Good Thing? Technology and innovation create “disruption.” That basically means creating new markets or value networks, which eventually disrupts earlier technologies. New products, new inventions, new sources of demand are all possible. Yet, the very innovation that creates these opportunities also can create job losses as well as having significant distributional consequences for society as a whole.
The panel seeks to explore this duality.
- James Balsillie Chair, Centre for International Governance Innovation
- Lisa Cook Professor, Department of Economics, Michigan State University
- Robert Johnson President, Institute for New Economic Thinking
- Richard Nelson Professor of Economics, Columbia University
- Moderator Richard Waters Financial Times
CANADIAN ROOM 3:00–4:30 PM PLENARY PANEL
Innovation: Do Private Returns Produce the Social Returns We Need? The machines of the frst age replaced and multiplied the physical labor of humans and animals. The machines of the second age will replace and multiply our intelligence. The driving force behind this revolution will, argue the “techno-positivists,” exponentially increase the power (or exponentially reduce the cost) of computing. The celebrated example is Moore’s Law, named after Gordon Moore, a founder of Intel. For half a century, the number of transistors on a semiconductor chip has doubled at least every two years. But the information age has coincided with—and must, to some extent, have caused—adverse economic trends: stagnation of median real incomes; rising inequality of labor income and of the distribution of income between labor and capital; and growing long- term unemployment. Are the great gains in wealth and material prosperity created by our entrepreneurs in and of themselves sufficient to produce desired social returns demanded in today’s world?
- Simon Head Fellow, Institute for Public Knowledge, New York University, and Director of Programs, The New York Review of Books Foundation
- Mariana Mazzucato R.M. Phillips Professor in the Economics of Innovation, SPRU, University of Sussex
- Stian Westlake Executive Director, National Endowment for Science Technology and the Arts
- Dr. Joon Yun Partner and President, Palo Alto, LLC Moderator Quentin Hardy Deputy Tech Editor, The New York Times
- Moderator Quentin Hardy Deputy Tech Editor, The New York Time
CANADIAN ROOM 4:45–6:15 PM PLENARY PANEL
Have we Repaired Financial Regulations since Lehman? The 2008 global financial crisis led to the worst recession in the developed world since the Great Depression. Governments had to respond decisively on a large scale to contain the destructive impact of massive debt deflation, (although there is some question as to the degree to which this represented support for the financial ser - vices industry vs the needs of the real economy). Still, large financial institutions such as American International Group, Bear Stearns, Lehman Brothers, Countrywide Financial, Washington Mutual, Wachovia, Northern Rock, and Landsbanki collapsed; thousands of small-to-medium- sized financial institutions failed or needed to be rescued; millions of households lost their retirement savings, jobs, homes, and communities; and numerous non- financial businesses closed. Five years later, we are still experiencing the effects of the crisis. Are the financial reforms and regulations introduced since the onset of the crisis likely to be effective in preventing another catastrophe?
- Anat Admati Professor, Stanford Graduate School of Business
- Richard Bookstaber U.S. Treasury with the Office of Financial Research and FSOC
- Andrew Haldane Executive Director of Financial Stability, Bank of England
- Edward Kane Professor of Finance, Boston College
- Moderator Martin Wolf Financial Times
CANADIAN ROOM FOYER 6:15–7:15 PM Cocktail Reception
CANADIAN ROOM 7:15–9:00 PM KEYNOTE DINNER
Innovation: To What Purpose? Innovation is said to be essential for survival in most industries. Yet, innovation can be very risky—some inno - vations can even destroy value. How can managers and entrepreneurs know what to do, and how should this trade-o ff between innovation and risk be treated? What are the broader social goals that ought to be achieved via innovation?
- Presenter John Ralston Saul Novelist, Essayist and President, PEN International
- Moderator Rohinton Medhora President, Centre for International Governance Innovation