The Adam Smith Annual Lecture by Deepak Lal

The Great Crash of 2008: Are governments or markets to blame?

Deepak Lal is the James S. Coleman Professor of International Development Studies at the University of California at Los Angeles, Professor Emeritus of political economy at University College London, President of the Mont Pelerin Society and a Senior Fellow of Adam Smith Institute.

He was a member of the Indian Foreign Service (1963-66) and has served as a consultant to the Indian Planning Commission, the World Bank, the Organization for Economic Cooperation and Development, various UN agencies, South Korea, and Sri Lanka. From 1984 to 1987 he was research administrator at the World Bank.

Lal is the author of a number of books, including The Poverty of Development Economics; The Hindu Equilibrium; Against Dirigisme; The Political Economy of Poverty, Equity and Growth; Unintended Consequences: The Impact of Factor Endowments, Culture, and Politics on Long-Run Economic Performance; and Reviving the Invisible Hand: The Case for Classical Liberalism in the 21st Century.