Markets, State and Democracy: Lessons from the Economic Crisis

Markets, State and Democracy: Lessons from the Economic Crisis The Henry Cohen Lecture.

The libertarian model asserts that heavy state intervention in the economy is a threat to human liberty. But the recent history of market-based democracies has shown almost the reverse. The supposedly “small-state” model of the US has instead opened the door to massive inequalities of income, wealth and power. The state has not taken over business; alas, business has taken over the state. Considering the recent experiences of the US, Scandinavia, and other market-based economies, how should we re-conceptualize the balance of state, market, and democracy?

With: Professor Jeffrey Sachs, Director of the Earth Institute at Columbia University

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Established in 2005, the Henry Cohen Lecture focuses on public policy challenges and solutions for women, children, and families, particularly in impoverished urban settings. The Henry Cohen Professorship, which focuses on these same issues, is an endowed Chair at Milano. The Lecture and Professorship are both named after Milano’s founding dean, who served from 1965 to 1983.