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Monday 4th December - 17:15 GMT

IAI Live December

Yanis Varoufakis, Quinn Slobodian, Eshe Nelson, John Redwood, Vicky Pryce, Roger Hearing

Join us on December 4th to watch a series of events getting to the heart of economics' eternal foe: inflation. Yanis Varoufakis, Vicky Pryce, and John Redwood come together to uncover if there is a unified theory behind central banks. There will be an opportunity after the debate to ask the panellists questions face-to-face. Hosted by the BBC's Roger Hearing.

Although there has been a recent fall, central banks are widely seen to have failed to control inflation.  At times running up to six times target, the banks blamed the Ukraine war, but critics point to the rapid rise in inflation before war broke out, and amongst other factors often find quantitative easing at fault.  Moreover, some claim there is a more fundamental problem that there is no overall coherent economic theory in the first place.  Bank models failed to predict the 2008 crash or the more recent cost of living crisis.  In 2015, the European Central Bank claimed that neither monetarist nor Keynesian economics provided solutions to the financial crisis, leading some to question if any economic theory had the answers.  

Should we conclude that  central bank failures to predict, let alone avoid, economic crises is evidence of a deep underlying flaw in their understanding? Or were banks just negligent in their failure to respond to evidence of rising inflation?  Do we need a radcal new economic theory or should we conclude that the economy is not predictable, forecasting a mugs game, and the options for government policy wider than commonly supposed?  

Please join us after the debate for the "Meet the Speakers" session, where you will have the opportunity to ask the speakers your questions directly in a live audience Q&A.

Unfortunately, Isabella Weber is unable to join the headline debate due to unforeseen circumstances.