"The Cost of Racism"

Economist Lisa Cook, will draw on her research for a discussion of the economic costs of systemic racism and discrimination in the U.S., which she recently wrote "inflicts a staggering cost on the entire economy, reducing the wealth and income of millions of people, including many who do not customarily view themselves as victims." Dr. Cook, an alumna of the Berkeley Economics doctoral program (PhD 97), is a Professor at Michigan State University and recently served as a member of President Biden’s transition team. She was also a senior economist at the President’s Council of Economic Advisers during the Obama Administration, working on the eurozone crisis, financial instruments, innovation, and entrepreneurship. Her wide-ranging research interests include economic growth and development, international trade, financial institutions and markets, and economic history. Her research has shown how segregation and race-related violence reduced the long-term growth of the U.S. economy, and examined the implications of racial and gender disparities in income and wealth inequality at all stages of the innovation process. She has also helped with compiling a national lynching database to assist with future research. The conversation will be led by economist Laura Tyson, Distinguished Professor of the Graduate School and Former Dean of Berkeley Haas. Dr. Tyson was the first woman to chair the President’s Council of Economic Advisers, and also served as Director of the White House National Economic Council for President Clinton. She is also co-chair of Gov. Gavin Newsom’s Council of Economic Advisors. Her research interests include U.S. trade policy and the global economy, automation and AI, economic inequality, and women’s economic empowerment.

About the series:
The “New Thinking at Berkeley Haas” series is hosted by our faculty to highlight cutting-edge, high-level thinking and analysis on a range of topics around business, economics, and equity - during the coronavirus pandemic and beyond. The series is streamed live on YouTube, where viewers can ask questions via chat.

About Berkeley Haas:
As the second-oldest business school in the United States, the Haas School of Business at the University of California Berkeley is one of the world's leading producers of new ideas and knowledge in all areas of business: http://haas.berkeley.edu