Mary S. Morgan: Making Economic Concepts Fit for Public Action
25.8.2023 Argumenta Distinguished Lecture
Professor Mary S. Morgan (London School of Economics) will be delivering a distinguished public lecture on 25 August, 14:00-16:00 in Metsätalo (Unioninkatu 40), hall 2. It is also possible to attend online via Zoom.
The lecture, titled "Making Economic Concepts Fit for Public Action," is set to unravel the intricate world of economic concepts and measurements and their profound implications on citizens' lives and the political landscape.
In an era where economic decisions shape the quality of life for people around the world, understanding the nuances of economic concepts such as 'poverty,' 'development,' and 'national income' is pivotal. Professor Mary S Morgan's lecture will delve into the process of measuring these concepts, shedding light on the challenges of integrating diverse data sources into coherent measurements. This is not merely a technical issue – how 'poverty,' 'development,' and 'national income' are conceptualized and measured have tangible impacts on individuals' well-being and society at large.
The talk will explore how the interpretation and application of these measurements hold the power to influence governmental policies, corporate strategies, and individual actions. Professor Morgan will shed light on these complex measurements and discuss what needs to be done so that they can be used for public good.
Imagine if we could all participate in discussions about economic growth, poverty and inequality armed with a better understanding of how these concepts are measured. It would enable us, as citizens, to critically evaluate policies, demand transparency, and ensure that our leaders are making informed decisions for the betterment of our society. Professor Morgan's talk will facilitate this understanding.
The lecture is a part of the ReSES Argumenta Distinguished Lectures series, an initiative led by the Rethinking the Serviceability of Economics to Society (ReSES) project. The project is funded by the Finnish Cultural Foundation.
For those unable to attend in person, the lecture will be streamed online:
Zoom link: https://helsinki.zoom.us/s/66548865181
Meeting ID: 665 4886 5181, Password: 422490
About Professor Mary S. Morgan
Mary S. Morgan is the Albert O. Hirschman Professor of History and Philosophy of Economics at the London School of Economics; she is an elected Fellow of the British Academy; an Overseas Fellow of the Royal Dutch Academy of Arts and Sciences; and is currently President of the Royal Economic Society (2023-24). She has published widely on social scientists’ practices of modelling, observing, measuring, and making case studies; and has long-standing interests in tracing how social science research is used to effect change in the world. She has just completed an ERC team project on ‘Narrative Science’ investigating the functions of narratives across the natural, human and social sciences.
Abstract of the talk
Economic concepts and measurements have a bigger influence on our daily lives than we realise. Think about terms such as ‘poverty,’ ‘development,’ and ‘national income.’ They seem clear but measuring them is quite tricky. They are in fact big umbrella terms covering lots of different things in the economy. And putting all those things together to get useful measurements of the bigger concepts is hard because the information comes from different places, in lots of different forms, and it is not obvious how to fit them together.
Now, those measurements aren’t just for show. They have some power to make things happen! Usage of those numbers influences how people and policymakers do things in response to economic and social problems, and so change economic behaviour. That is, the way we measure things such as ‘poverty,’ ‘development,’ and ‘national income’ can change the economic reality we are faced with.
How does this work? Who uses these numbers? Why and how? Interestingly, a closer look into these questions reveals that in order to act on the information in these measurements, they need to be broken back down into smaller pieces. This seems puzzling since they were initially constructed from bringing together multiple smaller numbers and ideas to form the measurements of those concepts. But those big overall numbers are just not usable to do real things in the economy.The unexpected result of breaking these numbers down into pieces is to give regular people and local actors the power to make sure the government is doing what it said it would in terms of economic improvements. So, understanding the pieces that constitute those big umbrella terms such as ‘poverty,’ ‘development,’ and ‘national income’ can help in keeping the policymakers and the government accountable.
Event details
Mary S. Morgan / Argumenta Distinguished Lecture
Time: 25th of August 2023, 14:00-16:00
Place: Metsätalo (Unioninkatu 40), sali 2
Title: Making Economic Concepts Fit for Public Action
Zoom link: https://helsinki.zoom.us/s/66548865181 Meeting ID: 665 4886 5181, Password: 422490