Professor Cecilia Rouse, former Chair of the Council of Economic Advisers for President Biden, questioned the role of the public sector in the economy at the University of Glasgow’s Adam Smith Tercentenary Lecture. She argued that the US public sector’s retreat from economic activity has played a role in some of the country’s greatest economic challenges, such as the slowdown in productivity growth.

Professor Rouse stressed that investing in childcare is one of the most productive investments in human capital a society can make. She believes that Adam Smith would advise policymakers today that the US must accept that a well-functioning and adequately resourced public sector must partner with the private sector to maintain and improve quality of life.

Professor Sir Anton Muscatelli, Principal and Vice-Chancellor of the University of Glasgow, praised Professor Rouse for her outstanding contributions to economics and public policy. He said that her lecture was a fitting conclusion to the Adam Smith Tercentenary Lecture series, which has featured global speakers of exceptional calibre.

Read up on the full lecture on the University News webpage.

First published: 8 November 2023

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More Information:

Government's role in the economy: What would Adam Smith say?

The Hunter Foundation website