The Legacy of Wynne Godley

He has been considered “the most insightful macroeconomic forecaster of his generation,” gaining this reputation through his research on the British economy during his time as head of Cambridge’s Department of Applied Economics, and later on for his work on the US and world economy when he moved to the Levy Economics Institute. He provided a prescient alert to both the 2001 recession and the Great Recession of 2007, and gave warnings on the consequences of adopting the euro under the rules of the Maastricht Treaty.

His books with Francis Cripps (Macroeconomics, OUP 1983) and Marc Lavoie (Monetary Economics, Palgrave Macmillan 2007) laid the foundations for the “stock-flow consistent approach” to macroeconomics, which is being embraced by a growing number of scholars and practitioners to analyze the interactions of real and financial markets, and is providing a robust alternative to the mainstream approach based on microfoundations and market clearing.

On the 10th anniversary of his departure, we brought together some of the people who worked with him to offer memories or provide insights based on his work.

This virtual conference took place on the Google Meet platform at Universita’ degli Studi di Cassino e del Lazio Meridionale and was recorded. Individual videos are now available.

Program

Event Schedule

Wednesday, May 13
program subject to change

9:00 a.m.	Welcome and Introduction
	Dimitri Papadimitriou, Levy Economics Institute of Bard College
	Remarks in PDF
	Video of remarks
9:15 a.m.	WYNNE GODLEY’S MONETARY CIRCUIT
	SPEAKER: Marc Lavoie, University of Ottawa
	PowerPoint presentation in PDF
	Video of remarks
9:45 a.m.	GODLEY AND THE WORLD TODAY
	SPEAKER: Francis Cripps, Alphametrics
	Remarks in PDF
	Video of remarks
10:05 a.m.	SPEAKER: Ken Coutts, University of Cambridge
	Video of remarks
10:25 a.m.	SPEAKER: Graham Gudgin, University of Cambridge
	Video of remarks
10:45 a.m.	SEVEN UNSUSTAINABLE PROCESSES 21 YEARS LATER
	SPEAKER: Gennaro Zezza, Universita’ degli Studi di Cassino e del Lazio Meridionale
	Video of remarks
11:10 a.m.	SPEAKER: Claudio H. M. Dos Santos, IPEA and Levy Institute
	Video of remarks
11:30 a.m.	SPEAKER: Jacques Mazier, Universite Paris XIII
	Video of remarks
11:50 a.m.	SPEAKER: Anwar Shaikh, New School for Social Research
	Video of remarks
12:10 p.m.	WYNNE GODLEY AND ECOLOGICAL MACROECONOMICS
	SPEAKER: Yannis Dafermos, SOAS University of London
	Video of remarks
12:40 p.m.	Remarks by Eve Taylor
	Video of remarks
1:00 p.m.	Roundtable. GODLEY’S APPROACH IN THE CURRENT CRISIS
	Video of complete roundtable
	MODERATOR: Jan Kregel, Levy Economics Institute of Bard College
	SPEAKERS: Michalis Nikiforos, Levy Economics Institute of Bard College
	Anwar Shaikh, New School for Social Research
	L. Randall Wray, Levy Economics Institute of Bard College
	PowerPoint presentation in PDF
	Gennaro Zezza, Universita’ degli Studi di Cassino e del Lazio Meridionale
1:45 p.m.	Closing Remarks
	Dimitri B. Papadimitriou, Levy Institute
	Video of remarks