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URL:https://lectures.london/london-school-of-economics/climate-change-and-
 liberal-political-economy/calender.ics
NAME:Lectures London
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DTSTAMP:20261023T104255
DTSTART:20261027T183000
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SUMMARY:Climate change and liberal political economy
LOCATION:London School of Economics: Online public event
DESCRIPTION:Tuesday 27 October 2026 6.30pm - 8.15pmScholars\, policymakers
 \, and activists continue to debate the most effective ways to mitigate cl
 imate change and adapt to its effects. Some argue that societies should en
 gage in centralized planning\, similar to war-time economic planning from 
 the past\, to avoid the worst of the impacts. The perspective of liberal p
 olitical economy following in the traditions of F.A. Hayek\, James M. Buch
 anan\, and Elinor Ostrom critiques such attempts at centralised planning. 
 Specifically\, a “war footing” would severely exacerbate epistemic pro
 blems\, perverse incentives\, and political power problems\, reducing the 
 capacities to discover effective means of climate mitigation and adaptatio
 n.Liberal political economy provides an alternative perspective to a centr
 alized\, militarized approach. Elinor Ostrom argued that effectively copin
 g with climate change requires a "polycentric approach\," meaning a govern
 ance arrangement that has many overlapping decision-making centers with so
 me degree of decentralization. There are at least six advantages that poly
 centric systems have for coping with climate change: 1) competition\, 2) c
 ooperation\, 3) perceptions of legitimacy that lead to coproduction\, 4) m
 utual learning through experimentation\, 5) institutional resilience/robus
 tness\, and 6) emergent outcomes that are socially desirable but not centr
 ally planned. The combination of these six factors gives polycentric gover
 nance systems distinct advantages over more top-down ones\, especially in 
 terms of epistemics and incentive compatibility.About the speakerJordan K 
 Lofthouse is a Senior Research Fellow with the Mercatus Center at George M
 ason University\, as well as a Senior Fellow with the F. A. Hayek Program 
 for Advanced Study in Philosophy\, Politics\, and Economics. He received a
  Ph.D. in economics from George Mason University. His research uses the in
 sights of the Austrian\, Virginia\, and Bloomington schools of political e
 conomy to explore environmental issues and economic development. He recent
 ly published the book An Economist’s Guide to Environmentalism with Bloo
 msbury Academic.More about this eventThe Hayek Programme in Economics and 
 Liberal Political Economy is a research initiative based at STICERD. All w
 ebinars are recorded and will automatically be uploaded to the STICERD You
 tube page here in several weeks.Any questions?You can contact us at b.chea
 ng@lse.ac.uk.From time to time there are changes to event details so we st
 rongly recommend that if you plan to attend this event you check back on t
 his listing on the day of the event.Whilst we are hosting this listing\, L
 SE Events does not take responsibility for the running and administration 
 of this event. While we take responsible measures to ensure that accurate 
 information is given here this event is ultimately the responsibility of t
 he organisation presenting the event.LSE holds a wide range of events\, co
 vering many of the most controversial issues of the day\, and speakers at 
 our events may express views that cause offence. The views expressed by sp
 eakers at LSE events do not reflect the position or views of the London Sc
 hool of Economics and Political Science.
URL;VALUE=URI:https://www.lse.ac.uk/hayek/events/climate-change-and-libera
 l-political-economy
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