A lecture by Will Hutton, Principal, Hertford College, University of Oxford.
The current global financial crisis shows little prospect of an early resolution. Banks remain undercapitalised and with precarious balance sheets, not just in Europe and the US but also in China and Japan, with too much private debt that borrowers cannot reasonably service. In the past, financial crises on this scale have morphed into a wider crisis of capitalism. There can be no certainty, even with careful management, that the world will escape without prolonged and protracted difficulty. In his lecture, Will Hutton will assess to what extent we are living through history's 'latest laugh' - a full-blown crisis of capitalism now that socialism is dead?
Will Hutton is an economist and leading public intellectual whose career began in the City, but who is best known for his work in journalism. He was Editor-in-Chief at The Observer from 1996 to 2000 and continues to write a column. Will went on to run The Work Foundation until 2008, stepping down to become its Executive Vice Chair - a role he has just relinquished. His review 'Fair Pay in the Public Sector' was published in March 2011, and he has conducted independent reviews into Britain's education and training compared to EU countries, the BBC's charter renewal and the creative industries. He recently chaired the Ownership Commission, established by the outgoing Labour government, which delivered its findings in March 2012. His many books include the best-selling The State We're In (1995), The Writing on the Wall: China and the West in the Twenty-First Century (2008), and, most recently, Them and Us: Changing Britain - Why We Need a Fair Society (2010). Will is a governor of the London School of Economics and the Ditchley Foundation, and has received honorary degrees from many universities including Bristol, East Anglia, Kingston and Glasgow Caledonian. He became Principal of Hertford College, University of Oxford in October 2011.
An optional £10 sandwich lunch shall be available from 1215.
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