Economic Policy: Shaping American Democracy
Carola Binder, Michael Lenox
With inflation as a main economic concern in the 2024 U.S. presidential election, Carola Binder, associate professor of civic leadership and economics at the University of Texas–Austin, and Michael Lenox, University Professor at UVA's Darden School of Business, consider some of the themes in Binder’s new book, Shock Values: Prices and Inflation in America Democracy.
Binder and Lenox explore how many of the foundational moments in U.S. economic history have occurred during financial panics related to inflation or deflation. Efforts to ensure price stability and government decisions in those moments—shaped by central bank actions, interest group politics, legal battles, and economic ideas—have had lasting economic, social, and political effects for every generation of Americans.
Starting at 11:30 AM lunch will be served—first come, first served. Binder’s book will be available for purchase. Parking is not available at Bond House. If you plan to drive, there is paid parking within walking distance at the Oakhurst Inn and Central Grounds Garage.
The Nau Lab's “Touchstones of Democracy” series explores key events, places, thinkers, and texts that inform the history and principles of democracy. The fall 2024 conversations are produced at the University of Virginia by the Karsh Institute of Democracy and the College and Graduate School of Arts & Sciences.
Speakers
Carola Binder
Associate Professor of Civic Leadership and Economics, University of Texas–Austin
Nonresident Fellow, Brookings Institution
Carola Binder
Associate Professor of Civic Leadership and Economics, University of Texas–Austin
Nonresident Fellow, Brookings Institution
Carola Binder is a macroeconomist and economic historian with a PhD from the University of California, Berkeley. She is the author of the book Shock Values: Prices and Inflation in American Democracy (University of Chicago Press, 2024) and numerous articles on monetary policy and inflation expectations. She is on the editorial board of the American Economic Review and an associate editor at the Review of Economics and Statistics and the Journal of Money, Credit, and Banking. She is a research associate in the monetary economics program at the National Bureau of Economics Research, a non-resident scholar at Brookings, and a senior affiliated scholar at the Mercatus Center. She also serves on the advisory panel of the Catholic Research Economists Discussion Organization. Before joining UT SCL, she taught at Haverford College from 2015 through 2024.
Michael Lenox
University Professor, University of Virginia
Tayloe Murphy Professor of Business Administration
Michael Lenox
University Professor, University of Virginia
Tayloe Murphy Professor of Business Administration
Michael Lenox is University Professor and Tayloe Murphy Professor of Business Administration at the University of Virginia. He also holds an appointment as a professor of public policy (by courtesy) at the Batten School of Leadership and Public Policy. At UVA's Darden School of Business, he teaches the core MBA strategy course and an MBA elective on Strategy in the Digital Age, among other offerings. He serves as a special advisor to the dean leading special projects. In 2023, he was asked by UVA’s President to serve as the inaugural Donna & Richard Tadler University Chair of Entrepreneurship and to lead a new pan-University entrepreneurship initiative as a special advisor to the provost. In addition, he is a faculty senior fellow for UVA's Miller Center where he is an academic director for the Project on Democracy and Capitalism. From 2016 to 2023, he served as the senior associate dean and chief strategy officer for the Darden School. From 2008 to 2016, he served as associate dean of innovation programs and academic director of Darden's Batten Institute for Entrepreneurship and Innovation. He helped found and served as the inaugural president of the multiple-university Alliance for Research on Corporate Sustainability.
Lenox received his Ph.D. in technology management and policy from the Massachusetts Institute of Technology in 1999 and B.S. and M.S. in systems engineering from UVA. Lenox has served as an assistant professor at New York University's Stern School of Business and as a visiting professor at Stanford University, Harvard University, Oxford University, and IMD.