Richard Bookstaber 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 19)
0:00 - Prologue
01:29 - Intro
01:48 - 1. Why does economics matter?
06:17 - 2. What are the differences between economic science and economic engineering?
10:42 - 3. What role does economics play in society? Does it serve the common good?
12:56 - 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.?
15:23 - 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?
18:27 - 6. Does economics explain Capitalism? How would you define Capitalism?
19:29 - 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?
25:07 - 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 Richard Bookstaber
American. Economist, author, noted expert in financial risk management
Rick Bookstaber is the author of The End of Theory (Princeton, 2017), and A Demon of Our Own Design (Wiley, 2007). He is the founder of Talagent Financial, a platform for providing risk management to asset owners. His career has spanned chief risk officer roles on both the buy-side at Moore Capital and Bridgewater, and on the sell-side at Morgan Stanley and Salomon. From 2009 to 2015 Rick served in the public sector at the SEC and the U.S. Treasury, drafting the Volcker Rule, building out the risk management structure for the Financial Stability Oversight Council, and developing an agent-based model to assess financial vulnerabilities. Most recently he was the Chief Risk Officer in the Office of the CIO for the University of California, with oversight across its $160 billion pension and endowment portfolios. His various roles have put him at the center of the critical crises of the last three decades - working with portfolio insurance during the 1987 Crash while at Morgan Stanley, overseeing risk at Salomon during the 1998 failure of Long-Term Capital Management (dubbed “Salomon North”), and with the aftermath of the 2008 Crisis while in the regulatory sphere. A black belt in Brazilian jiu jitsu, Rick can be found training at the Renzo Gracie Academy in his free time. Rick received a Ph.D. in economics from MIT.
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►Transcript👉www.ageofeconomics.org/interv...
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Interview by William Hynes, Fabio Dondero and Julian Karaguesian
Music: J.S. Bach, from The Well-Tempered Clavier. Kimiko Ishizaka, piano. Video by Fabio Dondero

[@psikeyhackr6914]

Does planned obsolescence mean unnecessary manufacturing? Hasn't that resulted in more CO2 production? Then economists ignore the depreciation of durable consumer goods for seven decades.

[@clobter]

rick book on the loose 🦴🦴👁👁🦾🦾👀👀🤡🤡🐬🐬 thomas booksatber touched me