NEW PARADIGM
Re-live: XII. New Paradigm Workshop - Resetting the Economy after the Crises
What lessons can be learned for the German economic model from the recent moments of crisis? That's what our next XII New Paradigm Workshop was all about - with Robert Habeck, Philip Lane, Isabella Weber and Mariana Mazzucato.
BY
FORUM NEW ECONOMYPUBLISHED
9. MAY 2023READING TIME
2 MIN
That nothing will ever be the same again is one of the rapid prophecies of modern media excitement – whether after September 11 or in several other crisis situations. Most of the time, things are still the same afterwards. This certainly also applies to what will follow Corona, war and the energy price shock. But the finding that many things will be different could be more true this time than in many previous crises. Especially with the climate crisis intensifying at the same time.
Even if Germany is not deindustrializing, the energy shock has hit some industries hard. What will remain of them? What will the energy system of the (climate-neutral) future look like after all the turmoil – and how resilient will it be to new shocks? What will the new-style industrial policy look like – like the response to the U.S. Inflation Reduction Act? What remains of the geopolitically naïve German export model? And what are the lessons to be learned from an inflation shock that makes the limits of classical central bank monetary policy tangible?
All these are more than just a few questions for current business. What the answers might be, we discussed on Monday at our XII. New Paradigm Workshop – with Vice Chancellor Robert Habeck and economist Mariana Mazzucato, with ECB chief economist Philip Lane and gas price brake co-inventors Isabella Weber and Sebastian Dullien. Tom Krebs discussed the resilient energy system model with ZEW chief economist Achim Wambach and Head of Agora Energiewende Frauke Thies. Shahin Vallée talked with experts from the BDI, Kiel Institute and IMK about a new German export model vis-à-vis China.
The evening focused on whether such historic crises are a good thing because they accelerate change for the better. This will be discussed, among others, by Finanzwende founder Gerhard Schick, Deputy Chair of the CDU/CSU Jens Spahn, the architect of the Paris Climate Agreement Laurence Tubiana as well as the Chairwoman of the German Ethics Council Alena Buyx and author Julia Friedrichs.