What is “The Market?”
As civil servants, “The Market” is a term used every day. Join Emily McKenzie. Irene Van Staveren and Rainer Kattel to discuss.
I love the idea of having a panel explore a term so basic and commonly used. What is “the market”? I hope they discuss how the market is changing with the rise of immersive tech (how will we define the market in the metaverse?).
Private goods such as food are clearly market activities. Many public goods such as air quality are difficult to buy or sell so we consider them part of the public sphere. However, what about goods and services that lie in the grey area between? Economists often create markets in goods such as GHG emissions. However, despite plenty of research in this area, this market still fails to meet the needs of society. The vast majority of care work is unpaid, despite a large and mobile skilled workforce in which wages are persistently low. Perhaps we need a more considered approach?
This panel event consists of 3 Economists from the marketised public sphere of academia and global initiatives.