The world and the economy are navigating a period marked by wars, soaring energy prices, the global economic costs of extreme climate events, and a change in the US role within international institutions.
In this new #EUIUpFront conversation, Giancarlo Corsetti, Professor at the EUI Department of Economics, and Laura Tyson, Senior Fellow at the EUI’s Florence School of Transnational Governance and economic advisor to former US President Bill Clinton, discuss economic policy in the new world defined by geopolitical tension and a rapidly evolving multilateral order.
The two scholars draw a parallel between the past and the present, comparing the economic landscape of the times when Tyson was the first woman to head the White House Council of Economic Advisers to today’s economic situation. They also address climate—a long-standing focus for Tyson since her work with Al Gore—and energy, with Tyson noting that disruptions to oil and gas markets due to the war in Iran will accelerate the shift toward renewables.
Another theme of the conversation is the need for European strategic autonomy. Corsetti reflects on the risk of fragmentation in Europe and advocates for a "coalition of the willing" to serve as a vanguard for a stronger, more independent Europe that will have to play a bigger role in today’s world.
Watch the full video on the EUI YouTube channel.
The #EUIUpFront conversation series brings together EUI scholars to discuss the most pressing topics of our time from diverse perspectives.
Watch all #EUIUpFront videos on the EUI YouTube channel.
Giancarlo Corsetti is Professor of Economics at the EUI Department of Economics and Pierre Werner Chair at the EUI’s Robert Schuman Centre for Advanced Studies. Corsetti is a member the United Nations high-level Advisory Board on Economic and Social Affairs. His contributions range from models of the international economy and open macro models to empirical and theoretical work on currency, financial and sovereign crises, monetary and fiscal policy, and international finance.
Laura Tyson, Senior Fellow at the EUI’s Florence School of Transnational Governance, is a Distinguished Professor of the Graduate School at the Haas School of Business, University of California, Berkeley. She chairs the Blum Centre for Developing Economies Board of Trustees at UC Berkeley. Tyson served in the Clinton Administration as the Chair of the White House Council of Economic Advisers (1993-1995) and as Director of the National Economic Council (1995-1996), being the first woman to hold these posts.