What were the real causes of the economic crisis? What are the consequences? And why weren’t economists able to predict it? Akerlof and other top economists will tackle these questions and demonstrate what innovative approaches to economics can teach us about the financial meltdown, governments’ responses, and alternatives to current public policy.

Speakers at the March 24 Centre for Global Challenges conference, “After the Meltdown: The Limits and Possibilities of Economics,” include:

George Akerlof, 2001 Nobel Prize in Economic Sciences, and Daniele E. Koshland Sr. Distinguished Professor of Economics at the University of California, Berkeley, and a Member of the Canadian Institute for Advanced Research (CIFAR), who researches how human psychology drives the economy worldwide and the need for governments to take an active role in economic policymaking;

Tim Besley, Kuwait Professor of Economics and Political Science at the London School of Economics, Director of The Suntory and Toyota International Centres for Economics and Related Disciplines (STICERD), and CIFAR Member, who described to the Queen (in a joint letter with other economists) how a “psychology of denial” gripped the financial and political world in the run-up to the financial crisis, and;

Pierre Fortin, Professor of Economics at the Université du Québec à Montréal, past president of the Canadian Economics Association, and CIFAR Member, whose economics research focuses on daily life issues such as unemployment, and the need for equitable public policies.

The Centre for Global Challenges, associated with the Glendon School of Public & International Affairs, has been established to promote public discourse about key issues and public policy solutions. The Centre’s inaugural event will be the first in a series of panel discussions in which experts will propose new public policy directions supported by their research.

Alex Himelfarb, Director of the Centre for Global Challenges, and Chaviva Hošek, President and CEO of the Canadian Institute for Advanced Research, will co-chair the conference.

The panel discussion will be moderated by consultant and policy advisor Eugene Lang, co-founder of Canada 2020 and vice-president of Bluesky Strategy Group.

The conference has been organized in partnership with the Canadian Institute for Advanced Research (CIFAR), the Hennick Centre for Business and Law, Canada 2020, The Mark News and Global Brief.

It will take place on Wednesday, March 24, 2010, from 2 to 5pm in the BMO Conference Centre at Glendon College, York University (building #16 on the MAP).

THE CENTRE FOR GLOBAL CHALLENGES is a new public policy forum associated with the Glendon School of Public and International Affairs. The CGC promotes public discussion of key issues. It brings together thought leaders – practitioners and scholars, policy makers and researchers – to explore the Canadian implications of key challenges. Such issues include:  harnessing the global economy; adapting health and social architecture for the knowledge economy and the new demography; accommodating religion, diversity and common citizenship; and improving public institutions. See: www.glendon.yorku.ca/cgc

THE GLENDON SCHOOL OF PUBLIC & INTERNATIONAL AFFAIRS is Canada’s first bilingual graduate school of public and international affairs. A unique Canadian institution, it combines a comprehensive bilingualism with a focus on both public and international affairs, seeking to explore the interplay between domestic and global issues. Adopting a global perspective, the School explores the relationship between public institutions and their larger environment. Its purpose is to advance research on public and international affairs; provide high-quality graduate programming; and offer innovative professional development programming. A fully bilingual master’s program features internships and international exchange experiences. The School is located on Glendon’s picturesque campus in mid-town Toronto. Visit the GSPIA at: www.glendon.yorku.ca/gspia

YORK UNIVERSITY is the leading interdisciplinary research and teaching university in Canada. York offers a modern, academic experience at the undergraduate and graduate level in Toronto, Canada’s most international city. The third largest university in the country, York is host to a dynamic academic community of 50,000 students and 7,000 faculty and staff, as well as 200,000 alumni worldwide. York’s 10 Faculties and 28 research centres conduct ambitious, groundbreaking research that is interdisciplinary, cutting across traditional academic boundaries. This distinctive and collaborative approach is preparing students for the future and bringing fresh insights and solutions to real-world challenges. York University is an autonomous, not-for-profit corporation.

Media contact:

Janice Walls, Media Relations, York University, 416 736 2100 x22101 / wallsj@yorku.ca

Media must pre-register for the conference, as seating is limited.