News

Well planned is completely undone, says Professor Teemu Malmi

The theme of the Economics Defence Course event (Taloudenpuolustuskurssi) was the reconstruction of the Finnish economy and that of an individual.
Professor Matti Pohjola. Photo: Jukka Mäkelä / WOLTTI GROUP

According to Teemu Malmi, Professor of Accounting at the School of Business, economy is the basis for a welfare society and, ultimately, all decisions are economic decisions. The success of export companies is vital for the well-being of our economy.

'We must make decisions and also put them into practice. Decision-making must be made faster than it is at the moment, and implementation problems arising from ourselves, must be resolved. Well planned is still completely undone', said Professor Malmi when advising Members of Parliament to take care of the Finnish economy.

Professor of Economics Matti Pohjola presented the challenges and reconstruction measures of the Finnish welfare society to the audience. According to Pohjola, there are three challenges: market economy, the welfare society and the labour market.

'Economic growth has declined due to faded productivity growth. This results in decline in growth in prosperity unless new growth in productivity is achieved. The ageing population, which is typical for a welfare state, will cause the cost of pensions and care to rise, which means that tax rates will go up. Cuts on education, research and development will, in turn, result in lower economic growth as cuts are made to factors for growth. Low employment rate forms a challenge for the labour market. As a result, the tax revenue is not sufficient to finance the welfare state', said Pohjola.

According to Professor Pohjola, productivity can be increased by robotisation and digitalisation. However, Finland seems to be a bit behind in these areas if compared to Sweden and the United States.

'It should not be forgotten that higher education provides greater protection against job loss while contributing to the introduction of new technologies. In this time of changing technology and work, the importance of on-the-job learning is emphasised. As new technologies have not yet been established, appropriate training is not always available.'

The Economic Defence Course event is a summit between Members of Parliament, company executives and the academic world’s leading experts. This was the fourth time the course was held. And this time it also served as the kick-off for the parliamentary elections to be held next spring. Speakers at the event included, for instance, Emeritus Professor Sixten Korkman from Aalto University. In addition, Director Riitta Lumme-Tuomala at Aalto EE and Postdoctoral Researcher Hertta Vuorenmaa from the School of Business commented on the reform proposals of Members of Parliament and what major changes are needed in education.

The event was organised by Aalto University Executive Education (Aalto EE) in cooperation with the newspaper Helsingin Sanomat. Other partners were TEK (Academic Engineers and Architects in Finland), the Elo Mutual Pension Insurance Company, Finnish Business School Graduates and the Jenny and Antti Wihuri Foundation.

Twitter: #tpk2018

Anna Kontula's turn from Left Alliance to present how the education system should be developed. Founder and partner, Lifeline Ventures, Timo Ahopelto, Postdoctoral Researcher Hertta Vuorenmaa andDirector Riitta Lumme-Tuomala at Aalto EE discussed and commented the presentations. Reporter Jaakko Lyytinen from Helsingin Sanomat on the right.

More photos: https://taloudenpuolustuskurssi.fi/

  • Published:
  • Updated:
Share
URL copied!

Read more news

Paper packaging prototypes - miura ori technique. Photo: Valeria Azovskay
Cooperation Published:

Multidisciplinary research project based on origami seeks solutions for industrial needs

A joint project covering the fields of mathematics, engineering and arts is about to start at Aalto, where the aim is to study and develop folding technology for the needs of industry. In addition to Aalto, the project includes VTT as coordinator, and several companies from the forest industry to the machine design and cosmetics brands, such as Stora Enso, Metsä Group, Lumene, Mirka, Elomatic, Anpap, Orfer and Soften. Business Finland granted funding for the Co-Innovation project.
Staff and students from the seven Unite! partner universities met at the 4th Dialogue event in Barcelona in November 2021 to discuss the future of Unite!.
Cooperation Published:

2022 brings new opportunities for the future of Unite!

In 2022 Unite! alliance is preparing for the new Erasmus+ call for European Universities Initiative and will be strengthened by two new partners.
Yksityiskohta kryostaatista. Kuva: Mikko Raskinen.
Cooperation Published:

A major project brings together Finnish industry and research for quantum technology development

A new research project has been launched to accelerate the progress of Finnish quantum technology. The QuTI project, coordinated by VTT Technical Research Centre of Finland, will develop new components, manufacturing and testing solutions, and algorithms for the needs of quantum technology. The QuTI consortium, partly financed by Business Finland, consists of 12 partners and has a total budget of around EUR 10 million.
Graz University of Technology and Wroclaw University of Science and Technology join the Unite! alliance. In the image photos of the university buildings.
Cooperation Published:

Graz University of Technology and Wroclaw University of Science and Technology join the Unite! alliance

With the expansion from seven to nine members, Unite! University Network for Innovation, Technology and Engineering increases its impact on the European Higher Education Area.