Professor Novy helps instruct future leaders at the Royal College of Defence Studies

Professor Novy helps instruct future leaders at the Royal College of Defence Studies

Professor Dennis Novy has delivered a lecture on Economic Security and Geoeconomics to an audience of 100 senior military officers as a guest of the Royal College of Defence Studies (RCDS).

RCDS was created in 1927 to help deliver Winston Churchill’s vision of promoting understanding between senior military officers, diplomats and the civil service.

Members of the armed forces and the civil service from the UK and overseas with the potential to reach the highest ranks are invited to attend RCDS and study political, diplomatic, security, social and economic issues at the strategic level.

Professor Novy delivered his lecture on 26 September, introducing the concepts of economic security and economic resilience and placing them in the context of the emerging field of geoeconomics.

He discussed Western sanctions against Russia following the full-scale invasion of Ukraine in 2022 and their impact on the Russian economy. He also discussed various "China decoupling scenarios" whereby trade barriers might be erected between China and the West at some point in the future due to rising political and military tensions.

Professor Novy also discussed the importance of global supply chains and the UK macroeconomic backdrop, presenting some of his work on the economic impact of Brexit.

The lecture was followed by Q and A and a discussion over lunch. Allied nations represented in the audience included the USA, Ukraine, Estonia, Israel, Norway and Japan.

Lieutenant General Sir George Norton, Commandant of the RCDS, formally thanked Professor Novy for his lecture.

Professor Novy said “It was a great pleasure meeting military officers at the Royal College of Defence Studies. Although they have expertise in different areas, military officers and academic economists have in common that they search for facts and evidence, and both are used to interacting with politicians when it comes to formulating policy.”

26 September 2024