Rebuilding Macroeconomics aims to transform macroeconomics into a policy relevant social science by putting direct human interaction in response to fundamental uncertainty at the centre of analysis.
We explore the self-organising (not necessarily self-stabilising) order that grows from the direct interactions between millions of people as they seek to discover better frameworks to make sense of their changing world. This shifts the emphasis to knowledge creation and allows us to return to the time-honoured big macroeconomic questions of wealth creation, sustainability, distribution, power, coordination and institutions.
Rebuilding Macroeconomics was funded by the Economic and Social Research Council and is part of the Institute for Global Prosperity (IGP) at University College London (UCL). IGP’s vision is to build a prosperous, sustainable, future, underpinned by the principles of fairness and justice. Find out more at: seriouslydifferent.org
Rebuilding Macroeconomics will host 4 events this year as part of the IGP's 10 year anniversary. These events will form a collection of new economic thinking to develop pathways towards navigating a set of complex, intersecting and dynamic challenges as well as advance global prosperity in 2024 and beyond.
- Date: March 2024Location: TBCWhat does a poly-crisis world mean for economic coordination and economic policy frameworks in both domestic and international domains? To what extent can the state continue to set rules and end up as the insurer of last resort – are we nearing the limit of this strategy?
- Date: May 2024Location: TBCStrategic competition and economic security pose challenges for economic policymakers focused on optimising trade, commercial relationships and traditional macroeconomics. Countries are examining the role of industrial strategy, subsidies and FDI screening to ensure the production of critical goods.
- Date: September 2024Location: TBCThis demands an inter-disciplinary, scientific approach which brings together alternative methodologies for considering climate macroeconomics and realistic estimates of climate damages on the economy and strengthens economic resilience to climate stressors and shocks.
- Date: November 2024Location: TBC“Our robust finding is that research productivity is falling sharply everywhere we look” (AER, 2020) is one explanation for the productivity slowdown. We look for explanations why and look at the nature of creativity and what conditions are most conducive to greater creativity.
- Tue, 13 JunBank of England, Moorgate Auditorium13 Jun 2023, 14:00 – 17:30Bank of England, Moorgate AuditoriumWe co-hosted an event about Agent-Based Modelling (ABM) with the Bank of England and Professor Giovanni Dosi on 13 June in London. The event was tailored to the needs of policy-makers and policy economists.
- 16-17 MarchBank of England, Moorgate Auditorium16-17 MarchBank of England, Moorgate AuditoriumWe hosted a Festschrift to celebrate the career and research of Professor Alan Kirman on 16-17 March 2023 in London. Keynote speakers included Sam Bowles, Jim Heckman, Lucrezia Reichlin and Joe Stiglitz.