The Social and Behavioural Turn in Macroeconomics

Macroeconomics has been a contested field since it was invented in 1936. It is dominated by sophisticated models that assume that people behave rationally. But slowly, the recognition that people do not behave like “homo economicus” is changing things. Hours of work, use of leisure time, patterns of spending, are affected by social norms and conventions; and these things affect how the economy responds to disruptions like wars and pandemics.
Lecturer
Edward John DRIFFILL
(Visiting Professor, Yale-NUS College, National University of Singapore)
Commentator
WATANABE Tsutomu
(Professor, Graduate School of Economics, The University of Tokyo)
Moderator
SHIMAZU Naoko
(Professor, Tokyo College, The University of Tokyo)
0:00　Opening remarks (SHIMAZU Naoko)
5:10 　Lecture (Edward John DRIFFILL)
54:40　Comment (WATANABE Tsutomu)
1:15:06　Q&A
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