Stanley Fischer, Govenor of the Bank of Israel and Humanitas Visiting Professor of Economic Thought, gives a talk for the Humanitas program.
The Great Depression of the 1930s led to a revolution in macroeconomic thinking and in economic policy. The Great Recession, in which much of the world economy is still engulfed, has seen both monetary and fiscal policy being used to an unprecedented extent, and a greatly strengthened emphasis on the importance of financial stability. But despite these phenomena, and an explosion of professional literature and media attention, the economic policy lessons of the crisis are still in dispute. The Humanitas Visiting Professorship in Economic Thought has been made possible by the generous support of Donald Marron. The Professorship will take place during Michaelmas term and is hosted by Professor Vincent Crawford in association with All Souls College.