Ricardo Hausmann for Age of Economics - Full interview

Age of Economics: in the first part of this project a diverse group of global thinkers answers 8 fundamental questions about economics and capitalist civilization. (Interview number 21)
0:00 - Prologue
01:02 - Intro
01:21 - 1. Why does economics matter?
02:45 - 2. What are the differences between economic science and economic engineering?
05:53 - 3. What role does economics play in society? Does it serve the common good?
08:36 - 4. Economics provides answers to problems related to markets, efficiency, profits, consumption and economic growth. Does economics do a good job in addressing the other issues people care about: climate change and the wider environment, the role of technology in society, issues of race and class, pandemics, etc.?
10:27 - 5. As we live in an age of economics and economists - in which economic developments feature prominently in our lives and economists have major influence over a wide range of policy and people - should economists be held accountable for their advice?
14:24 - 6. Does economics explain Capitalism? How would you define Capitalism?
21:21 - 7. No human system to date has so far been able to endure indefinitely - not ancient Egypt or Rome, not Feudal China or Europe, not the USSR. What about global Capitalism: can it survive in its current form?
28:01 - 8. Is Capitalism, or whatever we should call the current system, the best one to serve the needs of humanity, or can we imagine another one?
About Ricardo Hausmann
Venezuelan. Professor at Harvard’s Kennedy School, Director of the Growth Lab
Ricardo Hausmann is a former Venezuelan Minister of Planning and Head of the “Presidential Office of Coordination and Planning” (1992-1993) and current Director of Harvard’s Center for International Development and a Professor of the Practice of Economic Development at John F. Kennedy School of Government at Harvard University. Hausmann earned a Bachelor’s degree in Engineering and Applied Physics (1977) and a PhD in Economics (1981) at Cornell University. Before coming to Harvard in 2000, he served as the first Chief Economist of the Inter-American Development Bank (1994-2000), where he created the Research Department. He has served as Minister of Planning of Venezuela (1992-1993) and as a member of the Board of the Central Bank of Venezuela. He also served as Chair of the IMF-World Bank Development Committee. He was Professor of Economics at the Instituto de Estudios Superiores de Administracion (IESA) (1985-1991) in Caracas, where he founded the Center for Public Policy.
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Interview by Fabio Dondero and Julian Karaguesian
Music: J.S. Bach, from The Well-Tempered Clavier. Kimiko Ishizaka, piano. Video by Fabio Dondero