Thursday 6 March 2014
32-36 Loman Street
Conference Room B
London SE1 0EH
In his highly regarded book, The Road to Recovery – How and Why Economic Policy Must Change, Andrew Smithers argues that the current neoclassical values governing global economic decisions must be revised to avoid a future financial collapse. His book offers guidance on a range of issues, notably for this discussion the need to change economic incentive structures for the management class to foster long-term growth instead of short-term gains. Existing executive pay practices tie bonuses and performance incentives to profit or share price increases over, at most, a three year timescale, leading some to argue that executives are rewarded for cutting costs rather than developing sustainable value for the company. Smithers has suggested that current executive pay policy could explain the UK’s comparatively poor record on business investment and that the consequent failure to deliver increases in productivity may jeopardise hopes for a sustainable economic recovery.
He will present on his findings and guidance offered in the book, and Janet Williamson, Senior Policy Officer at the Trade Union Congress, will act as a discussant. Following the presentation both participants will take part in a question and session with the audience.
Copies of the Road to Recovery will be available for sale both before and after the event. This event is free of charge and open to all but places are strictly limited due to space. If you are interested in attending please contact firstname.lastname@example.org. Light refreshments will be served.