News
DPA professors star in a documentary about the crisis
In 2012, Eyeworks Dinamo releases a new documentary When the Bubbles Burst that deals with the causes, dynamics and impact of the last financial crisis that has severely impacted not only structurally uncompetitive economies such Greece, but also rich and well functioning economies and its' regional and local governments such as in Detroit US and Vik in Norway. It features Carlota Perez, Erik. S. Reinert and Jan A. Kregel from the Department of Public Administration.
As the title of the movie indicates, the movie aims to go beyond explanations and analysis of the most recent crises, and tries to analyze and discuss the longer dynamics and cycles of capitalist development. For this, the movie relies on the ideas of techno-economic paradigms of TUT Professor Carlota Perez, the role of financial innovation, technological developments and imbalances of globalization.
The documentary includes a vast array of economists, journalists, finance specialists and politicians from Joseph Stiglitz, Michael Hudson, Michael Lewis, Bill Janeway, Jomo KwameSundaram to Georges Papandreo etc. Among them, there are also three professors of TUT Department of Public Administration: Erik S. Reinert and Carlota Perez explain the historical and recurring trajectories of technological and economic cycles – the central narrative of the documentary – while Prof. Jan A. Kregel discusses the impact of finance and financial innovations of the globalization and ICT-era in multiplying the effects of technological and economic cycles. These are also some of the key pillars of the Technology Governance MA and PhD studies at TUT.
The trailer can be watched here.
