Posts Tagged ‘Globalization’

Noreena Hertz: Keynote speech, Deloitte

July 12th, 2010 by emma

Noreena delivers the Keynote Speech at Deloitte UK’s Consulting Event in London.

Just how real are the dangers posed by global warming? And what, if anything, can we do about it? Enjoli Liston asks a selection of public figures who ought to know what they are talking about.

Published: Wednesday, 2 December 2009

Noreena Hertz

Economist and globalisation expert

There is a real opportunity for any country to grab a big piece of the low-carbon green economy pie, and this country currently does not have a strategy for how to do that. After the financial crisis we saw countries such as South Korea,China and the US target significant chunks of their stimulus packages towards the green economy, while in the UK, although there was a bit of talk around it, in practice very little was actually done. From the UK’s perspective, it is important to acknowledge that taking the lead on climate change isn’t just about being good and green. It’s about creating a clear narrative about how the UK is going to be an economic power in the future.

Read the rest of this article on the Independent website

Fast Company: ‘How an economist’s cry for ethical capitalism was heard’

Not long ago, economist Noreena Hertz lived at the lefty margins of her field. But her (widely ignored) prediction of the credit crisis and her call for a more evolved form of capitalism have suddenly put her at the center of the universe.

By Danielle Sacks
Published: November 1, 2009

Noreena Hertz had to seduce Bono. The Cambridge University economist was writing a book on the developing world, and Bono’s personal saga of getting the U.S. government to cancel more than $400 million of debt was just the pop-culture bridge she needed to move her ideas beyond the wonkish corridors of academia. After all, Hertz’s motive for The Debt Threat — a deep dive into the debt trap that, she argued, would have global consequences for all — was to juice the campaign that had been building slowly in activist ranks. The book itself would be a battle cry (a postcard inside made it easy for U.K. readers to urge the prime minister to cancel billions owed by the world’s poorest countries), and its release was pegged to hit before the 2005 G8 meeting. Hertz sent Bono an email, unsure if it would find him. To her astonishment, it did: “I’m so glad you got in touch,” read the rock star’s reply. “I’m a real fan of your work. Bono.”

Few academics have leaped from the critical fringes to the role of prophet as adroitly as Hertz. Wielding her contrarian message — that markets need to serve the interests of people as much as they serve companies or shareholders — Hertz has been campaigning for the past decade against the mantras of mainstream economists, urging a more ethical form of capitalism. But her message isn’t some yoga-infused spiritual quest. As she explained in her 2001 European best seller, The Silent Takeover, it is about the unsustainability — environmentally, socially, and economically — of laissez-faire capitalism and the idea that markets are stable. If the surge of corporate power was going to leave governments relatively impotent, Hertz argued, then those corporations themselves needed to fill the void. “She moved the conversation from what corporations can do to be socially responsible to a much more profound examination of the boundaries of corporate behavior and public behavior and where they have failed,” says Debora Spar, who was a dean at Harvard Business School for nearly two decades and is now president of Barnard. “She’s much more radical.”

Read the rest of this profile on the Fast Company website

Professor Noreena Hertz debates the right steps to economic recovery with Professor Robert Reich and Sir Martin Sorrell on BBC’s ‘Newsnight’.

Watch the programme on the BBC News website.

Hertz challenges what it is we Value

December 1st, 2008 by admin

The Guardian: ‘Unhealthy incomes’

Astonishment at a nurse being paid more than £100,000 points up an outdated idea of value

By Noreena Hertz
Published: 1st December 2008

Shock horror. An NHS nurse has earned £100,000 in a year. Well, it was enough of a shock for it to make it on to the front page of yesterday’s Sunday Times. This would have been fair enough if the tone of the piece had been positive – that finally, at last, nurses are being highly valued for their work.

But it wasn’t. Instead the piece was all about “generous incentive schemes” and big bonuses. The implicit message was clear: it’s bizarre and wrong for nurses to be paid a lot of money.

How anachronistic. At a time during which we as a society are collectively suffering from the greed and misdeeds of tens of thousands of bankers – almost all of whom would have taken home at least £100,000 and many more than 10 times that – shouldn’t we be rejoicing that perhaps at least a few of those people who choose to care for the most vulnerable as a profession might not be going to struggle this Christmas?

The nurse in question seems to have earned £100,000 by, in effect, taking on two jobs – half her income was earned in overtime – and having reached the pinnacle of her profession. So she saves, lives and works incredibly hard. Good for her. But as far as nurses in general are concerned, the majority still earn so little that many have to take on third jobs, and most cannot afford to buy their own home. This is no nurses’ pay bonanza. And it prompts a bigger question: how should we determine what is valuable in society today?

Read the rest of the article on The Guardian website

Hertz shares her views on Corporate Social Responsibility (CSR) in an interview with Chinese broadcaster CWTV (6:47) (Video in English with Chinese subtitles).

Noreena and Bono discuss (RED)

September 25th, 2005 by emma

This documentary follows Noreena Hertz, who as an economist and activist, plays a central role in the fight against poverty. Includes an exclusive interview with U2 singer Bono.

As anti-globaliszation protests are held ahead of the G8 summit, Cambridge economist Professor Noreena Hertz and Sir Mark Moody-Stuart, Chair of G8 Business Action for Africa, discuss whether business will aid or hinder Africa.

Listen to the full interview on the BBC Radio website

Billions of pounds of debt owing by African countries has been cancelled, so does that mean much less poverty on the streets and in the villages? Phillip Legraine and Noreena Hertz have both written books on the subject of third world poverty … and come to different conclusions

Listen to the full interview on the BBC Radio website