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SUMMARY:St Catharine's Political Economy Seminar Series - Trade and Develo
 pment: Why a 'No Deal' Brexit Would be an Economic Catastrophe’" - Terry
  Barker
DTSTART:20190306T180000Z
DTEND:20190306T193000Z
UID:TALK117244@talks.cam.ac.uk
CONTACT:Philippa Millerchip
DESCRIPTION:*Date:* Wednesday 6 March 2019 \n*Time:* 18:00 -19:30\n*Speake
 r:*  Terry Barker \n*Talk Title:*‘Trade and Development: Why a 'No Deal'
  Brexit Would be an Economic Catastrophe’\n*Location:* Ramsden Room\, St
  Catharine's College\n\n*Speaker*\nTerry Barker is Professor and Founder o
 f the Cambridge Trust for New Thinking in Economics and a Senior Departmen
 t Fellow in the Department of Land Economy\, University of Cambridge. He h
 olds an Honorary Chair in the School of Environmental Sciences in the Univ
 ersity of East Anglia\, UK. He has written on various aspects of trade\, i
 ncluding the variety hypothesis for international trade\, international co
 mpetitiveness\, effective protection\, the import content of UK final dema
 nd categories\, and foreign trade in multi-sectoral models. See: \nhttps:/
 /econpapers.repec.org/RAS/pba547.htm.\n\n*Talk Overview:*\nTrade is a feat
 ure of economic growth and development over location and time. The import 
 function is a critical component in Keynesian theory for open economies. B
 anking and insurance historically developed in response to the gains and r
 isks from intercity and international trade. Underlying the UK's trade and
  development are the networks of institutions\, known as the Single Europe
 an Market\, and many regulations and instruments at the EU level. A no-dea
 l Brexit would inflict major damage on the UK's trade and development and 
 threatens the effectiveness and efficiency of the UK's environment and ene
 rgy policies. The seminar will address why the no-deal threat is so seriou
 s in terms of the fundamental question of how markets evolve to generate p
 ublic and private goods and protect the environment. A no-deal damages the
  process of British specialisation and regulation of production\,\nweakeni
 ng innovation and raising polluting emissions. A lower exchange rate to of
 fset weaker exporting will shift the economy away from high-value quality 
 products and jobs towards more price-competitive goods and services. It wi
 ll increase inequalities by raising food and energy prices.  It will furth
 er concentrate activity in the south-east and lead to unemployment in area
 s relying on manufacturing for export.\n\nFor other Seminars see: www.poli
 ticaleconomy.group.cam.ac.uk\n\nPlease contact the seminar organisers Phil
 ip Arestis (pa267@cam.ac.uk) and Michael Kitson (m.kitson@jbs.cam.ac.uk) i
 n the event of a query.
LOCATION:The Ramsden Room\, St Catharine's College
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