Luis Garicano

Luis Garicano    (politician, economist)
Born	1967 Valladolid, Spain
Nationality	Spanish
Alma mater	Universidad de Valladolid, College of Europe, University of Chicago
Interests	McKinsey & Company
Party	Citizens (Spanish political party)
University of Chicago-trained Spanish Bilderberger economist who in March 2020, proposed a 500 billion euro "COVID-19 bazooka for jobs in Europe". Also active in the implementation of €750 billion of European Union debt bonds, the first big joint EU debt.  Member of the European Parliament for Spain In office 2 July 2019 - 1 September 2022 Bilderberger  Professor of economics and strategy In office 2008 - May 2017 Employer London School of Economics Bilderberger

Luis Garicano is an University of Chicago-trained Spanish economist and Bilderberger. Garicano has been actively promoting "structural reforms" of Spanish institutions and the economy for years, especially in the labor market, as well as in the health and pension system. He often writes opinions and analysis for the main news agencies, including the Financial Times, El País and El Mundo.

He proposed a 500 billion euro "COVID-19 bazooka for jobs in Europe" He was also active in the implementation of €750 billion of European Union debt bonds, the first big joint EU debt.

Education

Luis Garicano was born in Valladolid. He is the son of Ana Gabilondo and Luis Garicano. He studied at the San José School, a Jesuit school, in his hometown.

Garicano obtained bachelor's degrees in economics (1990) and Law (1991) from the University of Valladolid. Subsequently, he obtained a master's degree in European economic studies from the College of Europe in Bruges (Belgium) in 1992 and a second master's degree in economics from the University of Chicago in 1995. He received his doctorate (PhD) in economics from the same institution three years later, in 1998.

Career

After obtaining his doctorate he was hired as an assistant professor at the University of Chicago Booth School of Business, where he continued to study the economics of knowledge within labor markets.

Garicano has worked as an economist for the European Commission (between 1992 and 1993), for the consulting firm McKinsey & Company (1998) and for the Foundation for Applied Economics Studies (2010), where he held the McKinsey Chair.

He would go on to become an associate professor at Booth School of Business in 2002 and a full professor (tenured) in 2006. During his stay in Chicago, he was also a visiting professor at the Sloan School of Management, the Pompeu Fabra University and the London Business School.

In 2008 he transferred to the London School of Economics as a professor (chair) of economics and strategy and as the director of research as a part of the founding team of the new management department. In November 2008, at the inauguration of the new building of this department, after giving a presentation on the financial crisis Queen Elizabeth II asked Garicano what would become an infamous question: Why did nobody see the crisis coming?

At LSE he also founded and directed the master's program in economics and management and, in 2011, became the group head of the Managerial Economics and Strategy Group.

In May 2017 he joined the Business School of IE University as professor of economics and strategy. There he is also the director of the Center for the Digital Economy, which supports the development of the academic fields of economics, business, sociology and law. Additionally, he is a researcher at the Center for Economic Policy Research and is affiliated with the Center for Economic Performance.

Between January 2012 and April 2016, he was also an independent member of the board of directors of Liberbank.

In line with his influences at the University of Chicago, his research focuses on productivity, technological innovation and the organization of work; also focusing on inequality, economic growth and banking systems. His first academic article (2000) "Hierarchies and the organization of knowledge in production", argues that hierarchies within companies are tools to manage knowledge and promote specialization.

In 2012, he was part of an eleven-member expert commission on the reform of the Spanish higher education system.

In 2014, he published his first solo book, El dilema de España (Spain's Dilemma), in which he argues that Spain must decide to become the Denmark or the Venezuela of southern Europe. In particular, the book proposes educational and institutional reforms to promote "meaningful growth" and avoid the perverse incentives that caused the financial crisis of 2008.

Member of the European Parliament

As an Member of the European Parliament, Garicano wrote several proposals on how to complete the banking union and on how to design the EU's carbon border adjustment mechanism. At the same time, during the Covid "pandemic", Garicano's proposals had a great influence on the Union's response to the crisis. His proposal for a temporary employment protection mechanism, and for a recovery fund financed through the EU budget, were subsequently adopted by the EU (as SURE and NextGen EU); in this line, he was one of the negotiators of the Recovery and Resilience Mechanism, the program channeling most of the funds of the European Recovery plan (NextGen EU). During the 2022 Russia-Ukraine war, Garicano was one of the main voices calling for EU countries to stop buying Russian oil and gas.

He was also active in the implementation of €750 billion of European Union debt bonds, the first big joint EU debt. (NextGen EU); he was one of the negotiators of the Recovery and Resilience Mechanism, the program channeling most of the funds of the European recovery plan.

 

Event Participated in

Event	Start	End	Location(s)	Description
Bilderberg/2016	9 June 2016	12 June 2016	Germany Dresden	The 2016 Bilderberg meeting took place in Dresden, Germany.

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