Jayati Ghosh: US, Global South, Chinese Subsidy Model, Debt, Inequality & India, Tiger economies.
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- เผยแพร่เมื่อ 24 ส.ค. 2024
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In this podcast, we hosted Prof Jayati Ghosh to discuss current trends in the global economy. We asked her about emerging economies in Asia, China, the US, Europe, female labor force participation, and the discipline of economics. An interesting point this conversation raised is whether China is somewhat distinct from the league of typical Global South countries economically (not politically) and whether this leads to a false impression of a global convergence between the West and the Global South.
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Kanyakumari (South India) is about 400 nautical miles north of the equator; why do China, ruzz & India constantly talk about the global south? Not even Brazil is 100% south of the equator.
But it's very kind that you care so much about Australia and New Zealand.
Thank you, Professor Ghosh has just given me an eye-opening lecture on economic basics that were missing in my MBA program taken at one of the reputable Universities in North America. My utmost respect to the Professor.
Third world perspectives matters equally
absolutely fantastic show. prof. jayathi ghosh are only a handful economist who are questioning publicly the current extreme capitalist system. we must not allow current system controlling our governments for the future of humankind.
Jayati Ghosh explained it so well. India supposedly democracy allow the elites n super rich to suppress the majority of Indians who remain poor until they able to leave the country.
Because bourgeois democracy is not real democracy. It is a plutocracy in disguise.
Denying mobility to the masses.
Not all of them are even educated and literate
This is the most important explanation of the inequalities occurring in the world, especially Western Capitalist countries and their allies. If this is widely known to the majority of ordinary people of the world, including those in the West, there would be a strong movement to restructure inequalities in societies everywhere. This is what the very rich Capitalists are very afraid of. It's no wonder they are in full fighting mode to continue to control the organs of world power, the Military Industrial, Media and Academic Complex.
3:58 It's true that China's economy is the mainstay of BRICS, like the US economy is the mainstay of G7.
Very deep thoughts from Professor Jayati Ghosh on economic development, respect for all these thoughts.
Agree with her on Raghuram Rajan. He's all in for transforming India back into a feudal system.
I have been saying that the Ruling class want Neo Feudalism. Meaning a return to Feudalism. But without calling it Feudalism.
Excellent rebuttal of Friedmanite Rajan by Professor Ghosh. An economy exists for the flourishing of the species. Whether that must entail the enrichment of the few at the expense of the few is a purely political question.
Great Dr. Jayanthi proud of you. Great economists
👍👍Very intelligent discussion.
Very intelligent lady, she should way more popular, I'm delighted to discover her, great interviewer to he asked good questions, thanks
I’ve just learned that the ‘Global South’ should rightfully be called the ‘Global Majority’, because it also includes countries like Russia.
Truth is deleted as everything should be in favour of US and UK _ Asians solving the 5 eyes market instead of focusing on our own individual countries. Globalisation may distract us and India may slip into being another captive of US
We still don't know the wealth held in most tax havens.
Excellent analysis and great insight. As a student of Economics one question bothers me most about the Global South Economic Outlook and also about Indian politics is associated with the encouragement in the innovation and development jobs. Why there appears to be a lukewarm interest in creation of jobs? Chinese have put more emphasis and enthusiasm towards innovation and product development than India. I appreciate if these questions are answered. Thanks.
Great question.
Everyone in a market competition wants to win and not necessarily through a tactic benefits the whole society. One key example of the Problem Even in successful cases is All kinds of Monopoly, formed by control of resource, government power, historical IPs, first move advantages (like Facebook, networking effect).
For example, in China when a Company like Alibaba becomes too big and tried to get into Internet Finance, the Government literally called the Stop right after its IPO.
Now in India, the few big companies are in control of the Government policy. And it is much easier for them to earn big profit by controlling the market: the Rent Professor Ghosh was talking about, than innovation which is hard and costly in short-term, but absolute necessary for long-term.
Another successful example is South Korea's Chaebols. But that was also developed successfully under the Military Government.
So in short, in China and South Korea cases the government directed the companies for country's benefits by preventing easy Monopoly Profits. So they have to innovate to grow.
Kudos to you for a well chosen speaker. She makes total sense. 🙏🙏🙏🐝
Could you provide an estimate of the number of public workers in China? I think that the CPC actually approaches social planning by starting with defining social objectives rather than with GDP growth.
I agree with the comment about GDP not being what we value, but tax revenues come from GDP growth. And we can’t fund public services without tax revenues. So I think we still need to pay attention to GDP., while also being clear that GDP is a means to something else, not the end goal.
Anyway, very interesting. Please bring the professor back for ongoing conversations!
Outstanding discussion and thank you.
Great video. Since early 2016. I was always wondertwhy countries like Argentina, Pakistan and Congo are swamped with billions in debt. Then i began to learn more about the neoliberal economic policies. Of course The IMF and WB are main players
Thank you for sharing your knowledge. It is a very interesting interview.
An emphatic rebuttal to the Neo-liberal economists of whom Mr. Raghuram Rajan was one.
Dear Ms. Ghose, have been following you since your days as a contributor to the Frontline... Decades ago. Learnt a lot from you and continue to do so. Thank you.
After seeing the vulgar display of wealth at the Ambani marriage, millions are veering to a more equitable distribution of Wealth. In addition to introducing a Wealth Tax for Super Rich above say $100 million, We should have a PSR (Personal Social Responsiblity), a spending of 2-5% of Personal Wealth on Philanthropy every year
The whole idea of the market is to limit freedom with security
Thank you for this informative video.
Excellent.
big debt = high debt servicing costs=balance of payments difficulties. the bigger the debt the more you are sensitive to interest rate hikes. big debt is a big problem especially if households owe a lot of money. inflation is the least painful way for the politicians to make people pay their debts indirectly.
Very good.
These noble thoughts are not implemented on the ground by the practitioners of the 'Left' even.
The one percent of India that pays income tax cannot provide more revenue to government to increase public sector employees to provide adequate healthcare, education, sanitation etc expected from govt. We have to take from each according to ability to pay. Capex is not the only way to grow our economy .
just an absolutely superb discussion. Thank you very very much. May I ask which other sources of perspective do you, Ayushman and Jyotishman you refer to when trying to understand the world around us?
We try to follow all major perspectives on an issue or a subject, and see what makes sense and what doesn't.
The RED and GREEN working together in all countries to establish GREEN RULE
Next time you have Jayati Ghosh or any other Feminist, Marxist economist; could you ask them the following question:
I completely agree with her that traditional forms of national accounting of economic activities, do not include activities which are carried out in non capitalist institutions. I think she is correct when fiscal spending is decreased these are the sectors which are cut, because we know this care work is essentially carried out by women in the confines of her home.
My question is so what? I cannot believe she is for actually rearranging this same work capitalisticqlly (ie wage labor) or by the state? At best the state could help by making resources available which subsidize care work taken in context of the home.
I would ask this question to Margaret Benson but she is dead.
Thanks
Thanks a lot. Really appreciate it.
This is an eye opening lecture. Thank you Professor Jayati Ghosh. Thank you.
India should have been advanced like China. It's up to India to make India great being that your GDP 8%.
You don't need a global approach to corporate taxes. All you have to do is move to taxing revenues instead of profits.
Great, love this show
I wonder because my comment is for INDIA, that here in Oz, TH-cam deleted my comment
You are not alone!!
UTube loves us all..,
I am wondering why the Professor has based herself out of a country that follows everything she despises?
excellent.....
Time to call it quits and pursue different paths for all states.
Also, can you use Prof. Nancy Fraser’s & Haymaket Books (US)
Vuews of greatly expanded definition of workers & wiring class?
Global South has been renamed global majority. Australia and NZ are in the south, but they're allied with the global north. So that makes global south is a misnomer. Even the term global north will soon be renamed global minority.
Russia now calls it 'The World Majority' after their last foreign policy summit.
She is amazing wisdom!👍❤️
For an anchor it is very important to appear neutral regardless of whether he or she agrees with the viewpoint of the guest speaker / interviewee. Thats something where Jyotishman can certianly improve upon. Sorry for being forthright with the suggestion.
Where is your audio only podcast, data is expensive here in Canada?
Put public accountants in charge of corporate accounts
Ind!a It's Supperrr P0pppooorrr C0untry!!!
Where is black people's reparations talking about human rights and democracy????? There can be no trade with Africa without our reparations I hope that's very clear
33:20 hence the PLANdem!c
Great libaranduuuu
her thumbnail vs her real self.
chalk n cheese.
When will u invite Palki?
Palki only talk / rush to Anglo Saxon !
She is my ex girlfriend ❣️
Shame ma palki firthy mouthed cia paid anti China crackpot
She wiped her mouth and nose with her bare hand making her appear crass and lacking in social etiquette. As for her replies they're nothing new. She's just recapping trends.
Leftie jokers
Yuck
?