prof. Dr. Ing. Jan Libich
Bearer Neuron Impuls 2012 – Social Sciences
He analyzes and models the impact of population aging on budget, currency and economic growth. It also compares different variants of pension systems. From these analyzes, it compiles optimal proposals for economic reforms.
The research of the economist Jan Libich was the subject of the first Neuron Stories meeting, which uses animation and infographics to present the achievements of Czech scientists.
Will we retire without a pension?
Watch the animated video and browse the inspirational infographics.
Interview with Jan Libich
„Within a generation or two, most developed countries, including the Czech Republic, will be on the verge of bankruptcy. There is a risk that the current ongoing financing of the health and pension system will not change, "says Dr. Jan Libich, who in 2012 received one million crowns from the Neuron Endowment Fund for his economic research. Bankruptcy warnings provide evidence of population developments. For example, 40 years ago in Czechoslovakia there were six to seven people of working age per senior. At present, there are only three to four people, and in the middle of the century there will be only less than two people per pensioner. "Governments in most European countries have so far only closed budget gaps by raising taxes and short-term spending cuts, but they do not address the core of the problem. As the percentage of working people in relation to pensioners falls unstoppably, the state treasury lacks money every year. "
What was the main topic of your research?
I dealt with the impact of the demographic trend of population aging on the economy, especially on public finances, inflation, and GDP. The research studies that were the main goal of the project are, of course, not very clear to the general public. That is why I tried to communicate the results of my research through articles in Hospodářské noviny. At the same time, I invited renowned economists to study and filmed interviews with them on current topics of economic policy. In November, my book entitled "Real-World Economic Policy" will be published in Australia, which draws on recordings and tries to inform politicians about the right political and economic measures.
As part of your project, you have given several lectures, written a number of professional studies and popular articles in the press, and recorded several video interviews. What attracted people the most?
Probably the greatest interest among the public was aroused by my performance at the Science Café in Prague, entitled Are we facing state bankruptcy, hyperinflation, the collapse of the euro or zero growth? In it, I discussed the four main macroeconomic threats and their context. I later covered this topic in the study The Economic Future of Europe published in January this year in the journal World Economics.
What topic was best and which was worst received by the public? How do you explain these differences?
Generally speaking, topics such as economic growth or financial literacy are better received by the public than sovereign debt unsustainability or global warming. The reason is obvious. While the first category of topics reports rather good news, the second implies that people need to change their behavior and the decisions of their politicians, otherwise there will be serious economic, social or environmental problems. And unfortunately, it's probably human nature to turn a blind eye to unpopular facts and avoid changes in established behavior.
How will you apply the knowledge from the Czech Republic in your further scientific research at the University of Australia?
The Czech Republic offers many lessons for other countries, unfortunately not always positive. Take, for example, the Nečas government's efforts to reform the pension system. This is essential to prevent the system from collapsing as a result of declining birth rates and increasing life expectancy. But unfortunately, the reform was poorly designed, and even worse explained to the public, which caused its unpopularity and subsequent abolition. The pension reform in the Czech Republic also failed because it was launched during the economic crisis. Such long-term changes need to be made when the economy is doing well ... I hope other countries will learn from it.
What was the response of our botched pension reform among economists outside the Czech Republic? For example, has it already been included in economics textbooks as a deterrent?
Not yet, because more countries, such as Poland, are retreating a bit from the pension reform.
Did the project meet your expectations or would you like to continue?
The project has certainly met my expectations, and I continue in a few started directions. Among other things, he also contributed to my return to the Czech Republic, where I now work at the Faculty of Economics at the University of Mining and Technology in Ostrava.
How administratively demanding was the drawing of funds from the Neuron Endowment Fund?
The administration of the project, including the grant application, was certainly less demanding than at other institutions. Everyone at the Neuron Endowment Fund was very helpful and reliable, thanks a lot to them. I strongly encourage researchers in various fields to consider applying for support for their project from the Neuron Endowment Fund.
- In Search of Goals: Increasing Ice Hockey’s Attractiveness by a Sides-Swap
- Insurance by Government or Against Government? Overview of public risk management policies
- Monetary exit and fiscal spillovers
- Economic Future of Europe: Change of Diet or Premature Death?
- Monetary and Fiscal Policy Interaction with Various Degrees of Commitment
- Macro Meets Micro: Stochastic (Calvo) Revisions in Games
- Strategic Monetary–Fiscal Interactions in a Downturn
Jan Libich in media
- Stát musí více spořit v dobrých časech (Přítomnost)
- Fokus Václava Moravce o učitelích a jejich povolání (ČT)
- Jan Libich: Kolik miliónů pro vás „vydělali“ vaši učitelé? (Colours of Ostrava 2019)
- Problémy českého školství (ČT2 & Souvislosti Jana Pokorného)
- Dobrý učitel na základní škole může zvýšit budoucí příjem svého žáka víc než případná vysoká škola (ČRo Leonardo Plus)
- Jak probudit české žáky? (iEkonomie.cz)
- Jan Libich o vzdělávání: Učitelé mají kouzelný prsten z Arabely, ale umí to s ním? (Science Café – video záznam)
- Jan Libich: Kvalitní učitel na prvním stupni dokáže zvýšit mzdu svého žáka jako vysoká škola (Zet.cz)
- Universum: Dobrý učitel zvýší váš budoucí příjem o statisíce, až miliony (ČRo Wave)
- Jan Libich: Nevýhoda ekonomie – na lidech se špatně experimentuje (Science Café)
- Ekonomie není exaktní věda (ČeskáPozice.cz)
- Jistý příjem pro všechny (MarieClaire)
- Česku hrozí o polovinu menší důchody, penzijní systém je jako pyramidová hra, tvrdí expert (DVTV)
- Summer reading guide from The Conversation’s economists (The Conversation)
- Can Economics Improve People’s Wellbeing? Review of Real-World Economic Policy: Insights from Leading Australian Economists (La Trobe Business School)
- „Příčinou ekonomických problémů jsou přehnaná očekávání,“ říká ekonom J. Libich (Zet.cz)
- Na budoucnost se lidem myslet nechce (Ekonom a iHNed)
- Zabíjí škola touhu po vzdělání? (Česká pozice)
- V českém školství "zadarmo" chudí dotují bohaté (Ekonom)
- V českém školství „zadarmo“ chudí dotují bohaté (Ekonom + záznam rozhlasového pořadu Alter Eko)
- Australská ekonomika láme světové rekordy. Nejen proto má smysl na protinožce vsadit (Investiční web)