{"id":6529,"date":"2020-09-09T10:09:27","date_gmt":"2020-09-09T10:09:27","guid":{"rendered":"https:\/\/habib.edu.pk\/HU-news\/?p=6529"},"modified":"2025-07-25T15:32:00","modified_gmt":"2025-07-25T10:32:00","slug":"webinar-pandemic-via-keynesian-lens","status":"publish","type":"post","link":"https:\/\/habib.edu.pk\/HU-news\/webinar-pandemic-via-keynesian-lens\/","title":{"rendered":"Habib University Webinar Examines the Pandemic through a Keynesian Lens"},"content":{"rendered":"<p>On 4<sup>th<\/sup> September, 2020, Habib University\u2019s Interdisciplinary Development Research and Action Center (IDRAC) held a webinar titled \u201cPandemic, Economic Crisis and Keynes,\u201d to discuss the life, times and ideas of John Maynard Keynes, a 20<sup>th<\/sup> Century public intellectual and economist.<\/p>\n<p>The webinar was moderated by \u00a0Dr. Aqdas Afzal, Program Director for the Social Development and Policy Program, Habib University. The panel comprised Zachary D. Carter, author of the <em>New York Times<\/em> bestseller <em>The Price of Peace<\/em>, the book, which was central to the discussion; Dr. S. Akbar Zaidi, Executive Director of the Institute of Business Administration; and Dr. Asad Sayeed, Ph.D. in Economics, Cambridge University.<\/p>\n<p><iframe loading=\"lazy\" src=\"https:\/\/www.youtube.com\/embed\/c16eSO765zw\" width=\"702\" height=\"400\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span><\/iframe><\/p>\n<p>Specifically, the panelists discussed policies centered on lessening the effects of the current economic crises; the rise of rightwing authoritarianism in the world; the diminishing power of the United States of America; and on the relevance of Keynesianism to the world in this Covid-19-pandemic-induced economic crisis.<\/p>\n<p>Carter\u2019s book came about as a result of his interest in Keynes and Keynesian economics in a post-2008 financial crisis world, which brought a shift in his career from a financial reporter to an author. His transition into writing initiated an interesting discussion on the need of teaching good writing skills in colleges. Carter pointed out the enduring importance of writing even against the backdrop of the ongoing automation as a means of communicating ideas to people. Dr. Sayeed shed light on the relevance of Keynes to developing countries, which exist in disarray, owing to unstable democracy, high levels of income inequality, unregulated governance, etc. Specifically, Dr. Sayeed argued, \u201cWe [developing countries]traverse a Hobbesian world: even if we want to tax, we cannot tax, even if we want to have a formal economy, we cannot.\u201d<\/p>\n<p>Dr. S. Akbar Zaidi asserted the need for situating Keynes and his ideas in the 21<sup>st<\/sup> Century landscape where neoliberal globalization dominates and asked, \u201cHow does one model or think about Keynesianism which was meant for largely an autarkic system [in the present globalized world]?\u201d Carter, however, pronounced Keynes as an \u201cinternational thinker,\u201d who believed that \u201cNational demand management strategies can help in securing international harmony by preventing countries from falling in the social pits of misery.\u201d<\/p>\n<p>The webinar was carried live on Habib University\u2019s Facebook and YouTube pages. The panelists also answered the following question from the online audience: \u201cIf Keynes were alive today, what would his comments be on climate change?\u201d While Carter maintained that it is \u201cdangerous to resurrect the dead and interrogate [them],\u201d he speculated Keynes to have called for a large-scale international cooperative effort to mobilize economies to tackle the problem of climate change.<\/p>\n<p>Referring to Martin Wolf\u2019s terming of the current economic and sociopolitical crisis in the West as the \u201cmost disturbing political phenomenon of our era\u201d and Zachary Carter\u2019s conjecture of the unrest being a dark time for democracy, Dr. S. Akbar Zaidi argued that the current moment of unrest and crisis has led us a phase of global, local and democratic transformation, with \u201ca reinvention of different types of democracies\u201d, in the making.<\/p>\n<p>Habib University has always recognized the importance of dialogue and nuanced discourse around pertinent themes. IDRAC aims to foster thoughtful research and action on issues related to Pakistan and the wider South Asian context. It serves as a bridge between academic scholars, policy-makers, development practitioners, artisans and craftspeople, and the students who so eagerly study their disciplines.\u00a0 \u00a0Habib University will continue to organize and provide a platform for discussing issues of global and local importance.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On 4th September, 2020, Habib University\u2019s Interdisciplinary Development Research and Action Center (IDRAC) held a webinar titled \u201cPandemic, Economic Crisis and Keynes,\u201d to discuss the life, times and ideas of John Maynard Keynes, a 20th Century public intellectual and economist. The webinar was moderated by \u00a0Dr. Aqdas Afzal, Program Director for the Social Development and<\/p>\n<div class=\"read-more\"><a href=\"https:\/\/habib.edu.pk\/HU-news\/webinar-pandemic-via-keynesian-lens\/\" title=\"Read More\">Read More<\/a><\/div>\n","protected":false},"author":1,"featured_media":6532,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[11,3,256,12],"tags":[],"class_list":{"0":"post-6529","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-events","8":"category-faculty","9":"category-hu-news","10":"category-press-release"},"acf":{"home_page_thumbnail":6533,"category_select":"","name_overwrite":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Webinar Analyzes COVID-19 with Keynesian Insights<\/title>\n<meta name=\"description\" content=\"Habib University\u2019s webinar examines Keynesian economics, global crises, and rising authoritarianism, featuring insights from experts like Zachary D. 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