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On June 5th, Waseda University co-organized Nobel Laureates Symposium with UBS, one of the world’s largest financial institutions. Over 900 students came to the Okuma auditorium and heard three Nobel Laureates in Economics discuss the pressing topics concerning technology and entrepreneurship in today’s world.

Nobel Laureates Symposium, also called “Nobel Perspectives Live!”, is a global event series for Nobel Laureates to share their prize-winning work and insights. The event has toured cities including New York, London, and Hong Kong. This time, Nobel Perspectives Live! came to Tokyo. Most importantly, here Waseda University is the only university that provides this precious opportunity for students to interact with Nobel Laureates.

Three panelists are Bengt Holmström, a 2016 Nobel Laureate who is famous for his contribution to contract theory, Michael Spence, who won the Nobel Prize in 2001 for his research on the dynamics of information flow and market development, and Christopher A. Pissarides, a 2010 Nobel Laureate who is well-known for his research in Labor Economics.

Before the symposium started, students had a chance to talk with panelists at the entrance of the Auditorium one on one and asked specific questions and fields of study they are interested in. I was also very honored to talk with Professor Pissarides about his understanding of international political integration in the era of automation. He was very amiable and was very pleased to answer questions from every student.

“Despite the rising political confrontation between China and US, I still believe a free and open international economic order will benefit people around the globe,” answered Professor Pissarides after I asked about the future of Sino-US political integration.

After Nobel Laureates talked with students, the symposium started at 16:00. Panelists discussed include contemporary economic issues, the latest trends in AI and automation, challenges facing the Japanese economy, and global challenges.

Professor Spence and Professor Pissarides offered different perspectives on how to address Japan’s long stagnation. Spence reckons that Japan’s very advanced sort of sectors in science and technology that you’ll probably start to see elevated growth here in the coming decade. On the other hand, Pissarides stated that Japan has already developed to a relatively high standard. Instead of worrying about economic growth, the public should pay more attention to sustainability and people’s well-being.

During the lecture, panelists used interactive tools to encourage students’ participation as well. Students were asked whether they are inspired to establish their own startup in the future and they can choose the answer on their phone. The result was shared on the projector and all the participants can learn from the real-time result. Based on the survey, panelists introduced the current situation of entrepreneurship in the US and Europe. They also emphasized the relatively big economy as an advantage for Japanese startup companies compared to European countries.

Interactive tools used during the lecture (The slide and the survey on the student’s phone)

As the discussion moved on, panelists also discussed the development of AI and its potential impact on the job market and productivity, the possibility of increased leisure time and more flexible work arrangements, and the importance of technology in increasing female participation in the labor force and achieving better work-life balance.

In the end, the speakers advise students to diversify their skills and be courageous to take risks. A supportive culture will produce successful entrepreneurs. All the participants also took a group photo with three Nobel Laureates. The event concluded with an enlightening experience for students in an atmosphere of vibrancy and vividity.

After the pandemic, Waseda University has tried to rebuild connections with professionals and students around the globe. As introduced at the end of the event, the speaker’s series at Waseda University has a long history to keep students inspired. For example, Keizo Obuchi was one of the students who heard the speech of Robert Kennedy at Okuma Auditorium in 1962 and get inspired to be a politician. The next year, he was elected to the House of Representatives. 35 years later, he became Prime Minister of Japan in 1998.

Nowadays, students at Waseda University are always open to the thoughts and insights of highly impactful leaders around the world. Students can get precious global and forward-looking perspectives that are essential to confronting the ever-changing society.

*This article was written and contributed by the following student.
Student Contributor
Shen Yijing
School of Political Science and Economics