How to Invest in Turmoil?

In almost all advanced economies, one can observe a trend towards a slowdown in the growth of productive capital since the 90s, which has more recently led to a decline in the pace of technical progress and a decline in the rate of its diffusion into the economy. This evolution is not only attributable to the aging and downward trend in the price of capital combined with the growing weight of intangible capital. It is also the result of inefficient economic incentives, uncertainties linked to rising global protectionism and the seemingly increasing risk aversion of investors.

The session will focus on discussing the respective contribution of these different factors to this evolution. It will also seek to isolate economic and monetary strategies that can boost investment and thereby contribute to the sustainability of an open economic world, social control of technical progress and control of climate change.