"Why are we so rich and they so poor?" - This succinctly phrased citation of such poignant political, social and economic significance - attributed to David Landes in the 1990s - has been at the heart of controversial debate in both economics and the social sciences since the eighteenth century at least. Ultimately, any attempt to answer the question calls for a better understanding of long-term processes of economic development, and critical analysis of the factors impacting such processes. Existing theories mostly grasp economic development as a relatively stable process of growth.

The latest global financial and economic crisis, though, has once more irrefutably shown that in reality socio-economic development processes by no means follow long-term, relatively stable paths of equilibrium: Rather, they are subject to upheavals, asynchronies, and asymmetries that every now and then give rise to crises of varying severity and duration. This is the problem the forthcoming Herrenhausen Conference wishes to address by revisiting the "old" but ongoing inquiry into the character, dynamics, and determinants of long-term socio-economic processes in national economies.

Travel Grants for Young Researchers

The Volkswagen Foundation invites young researchers to aplly for a travel grant to take part in our Herrenhausen Conference "Long-Term Processes of Socio-Economic Development: Stagnation, Growth, Divergence and Crises". The Foundation offers up to 30 travel grants which will cover the conference attendance, accommodation and travel expenses (excl. cab fares, parking, food and beverages while travelling and poster printing costs). All recipients of the travel grants are required to present their project in a three minute "Lightning Talk" as well as on a poster, which will be exhibited in a poster session.

Applicants for "travel grant" or "poster only" have to apply until August 15, 2015, by using the application form at form.jotformeu.com/form/50192756981363. We are not able to consider applications submitted after this deadline.

For more information on the conference please visit: https://www.volkswagenstiftung.de/economics