Lahore: A seminar on “Economic Models for Inclusive and Sustainable Development,” was held at the Lahore School of Economics here. The Rector of the Lahore School of Economics, Dr. Shahid Amjad and the Dean of the Department of Economics Dr. Azam Chaudhry hosted.
Mr. Philipp Kauppert the Resident Director, Friedrich Ebert Stiftung, Pakistan Office and Prof. Hansjörg Herr the author of “Decent Capitalism of the Berlin School of Economics and Law, from Germany. Prof. Herr discussed the recent global crisis and also discussed how financial bubbles transformed into international panic, with states struggling to rescue and bail out a globalised financial sector.
In his lecture Prof. Herr also argued for a political response that addresses capitalism’s systemic tendency towards crisis – a line of thought which is completely absent from current reform debate.
The speaker also discussed the need for realistic as well as coherent industrial policies and exchange rate policies that are relevant for developing countries.