Skip to main content

The criminal responsibilities of … economists?

In case you have missed it, a few months ago it was widely reported in the media that half a dozen Italian seismologists were convicted for manslaughter after being accused of not being able to predict (and giving false assurances prior to) the earthquake that struck L’Aquila and led to the death of 300 people. Reactions varied greatly: from the Royal Society and US National Academy issuing brief statements and simply condemning the decision of the Italian court, to individuals claiming we are moving back to “the medieval ages” and “the Spanish Inquisition model” to harshly worded articles claiming that scientists need to be held accountable : “those who claim the title “scientist”, be it natural or social, expect to combine the immunity of diplomats and the infallibility of popes.”

By now you are probably wondering what does any of this have to do with a finance-related blog and when will the economists mentioned in the title show up. Besides, unlike seismology or meteorology, finance and economics are hardly the scientific fields that can be connected to catastrophic events that may lead to the loss of human lives.

Or are they?

You can continue reading the article in full on the ICMA Centre's blog.

Published 4 February 2013

You might also like

Information on places available for 2013

15 August 2013
Call our Hotline team today on 0118 378 7878

The adoption of futures contracts on Bitcoin: A new era of cryptocurrency

27 November 2017
According to the Financial Times, 31st October 2017, the Chicago Mercantile Exchange (CME) is expected to offer cash-settled futures contracts on Bitcoin by the end of 2017. CME, the world’s largest exchange by market value, has offered futures contracts on agricultural products, metals, energy, equity indexes, foreign exchange rates, interest rates, real estate, and even weather. With the increasing popularity of cryptocurrencies, the CME has finally decided to enter into the unregulated digital asset market. Futures contracts on Bitcoin may help investors to either hedge or speculate on the future price of Bitcoin. Because almost all futures contracts are cash-settled in CME, traders do not need to actually deliver Bitcoin.

ICMA Centre Scores 87% in Postgraduate Taught Experience Survey 2015

20 October 2015
The Postgraduate Taught Experience Survey (PTES) is run by the Higher Education Academy (HEA) who are a national body dedicated to improving teaching and learning and enhancing the experience of postgraduate students. The in-depth survey results for 2015 allows us to listen to student feedback on what went well and what can be improved on.