What has really happened to the world economy after 2008? Where are we today? What stands in the way of sustainable recovery and how should we respond?

Dr. Farmer provides his perspective on the  global and domestic recovery. When will the Federal Reserve tighten; and how will it tighten. How should we be viewing traditional economic theory as applied to the Crisis of 2008? Does it still work for us as a guide, or have the unusual sequence of events causing the crisis called it into question?

Dr. Farmer will offer his thoughts and practical ideas for managing risk from his new book, How the Economy Works: Confidence Crashes and Self-Fulfilling Prophecies. Signed copies will be available on the night.

Roger E. A. Farmer
Professor and Chair of the Economics department at UCLA
Roger E. A. Farmer is Distinguished Professor and Chair of the Economics department at UCLA. He has previously held positions at the University of Pennsylvania, the European University Institute and the University of Toronto. He is a fellow of the Econometric Society, Research Associate of the National Bureau of Economic Research, Research Associate of the Centre for Economic Policy Research, Fellow Commoner of Cambridge University, and Coeditor of the International Journal of Economic Theory. He has served as a consultant to the Federal Reserve Bank of Atlanta, the Reserve Bank of Australia, the European Central Bank and the Bank of England. In 2000, he was awarded the University of Helsinki medal. He is a member of the Financial Times Economists Forum, a specialist on macroeconomic theory and the author of six books and numerous scholarly articles in leading economic journals. Professor Farmer is internationally known for his book, The Macroeconomics of Self-Fulfilling Prophecies (1993) which explains how changes in market psychology can cause recessions. His two new books on the current economic crisis, How the Economy Works: Confidence, Crashes and Self-Fulfilling Prophecies (March 2010), written for the general reader and specialist alike, and Expectations, Employment and Prices (March 2010), written for academics and practicing economists, are published by Oxford University Press. These works are the culmination of twenty five years of research on the role of animal spirits (confidence) and self-fulfilling prophecies in macroeconomics. They integrate Keynesian economics with classical ideas and provide a new paradigm for macroeconomics in the 21st century.