Off The Cuff with Abhijit Banerjee
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- เผยแพร่เมื่อ 12 ก.ย. 2024
- #ThePrintOTC
Selling government stake in state-run public sector firms to check fiscal deficit may be a good idea in the short-run, but it is not a long-term solution, 2019 Nobel Prize for Economics winner Abhijit Banerjee said at ThePrint’s Off The Cuff Monday.
In conversation with ThePrint’s Editor-in-chief Shekhar Gupta and Business Standard chairman T.N. Ninan, Banerjee said PSU stake sale is not “how we solve” the problem of fiscal deficit.
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Abhijeet is a grounded economist, who is a true Indian patriot !!
Banerjee rightly said that Professionals should take Professionalism as their Ideology. Hats off Mr Banerjee. But in our Country, unfortunately Journalists in every media have forgotten their true Journalistic Professionalism which they learnt in their school & have become stooges of one Political Party or other or work for their personal growth agenda. True professionals in Journalism have become rarest of rare breed.
He didn't get Nobel for his ideology, but for his research and work. Here, we are more obsessed and lend to have discussions on the ideology he believes rather than the groundwork he does or has done.
So rightly said, why is India so obsessed with politics , as if seizing power is the central issue.
Shanu Brahma development economics is an outlier as a discipline. It is not scientific in the tre spirit scientific method in the same sense as physics or even macroeconomic is.It relies on and draws its conclusions from arbitrary in specific contexts and propose solutions that are sometime horribly illogical. This has resulted in a kind of perpetual friction between conventional macroeconomics that relies on exact methods based on mathematical models and development economics which many consider as too limited in scope to be of validity in any general situation.
The goals of Development Economists are very noble.. In fact in one of his interaction with the press , Dr Banerjee refers his efforts as a " movement" which by itself speaks volumes about the nature of his subject. A lot of mainstream economists in fact say that giving Economics Nobel to development economists is not right, as it only undermines the rigor and exactness of the methods of macroeconomics wherein prediction useful to the real world can be made. Now much of the criticism is centered on this just concern which is both genuine and scholarly.
Personally I feel that Development Economists are better off being awarded Nobel Peace prize or some other prize instead of a Nobel. This was in fact point that Alfred Nobel's family had raised when the economics prize was instituted. It is therefore not officially called a Nobel, although its given by the same academy.
So this criticism is npt personal in any sense of the word. Abhijit understands and respects those views quite gracefully..
Now there are cases when people throw abuses that are highly personal . That is not acceptable
@@premprasad3511 Errr...are you even familiar with their work? They're known for RCTs aka Ramdomized Controlled Trials. That's even more empirical aka 'scientific' than your much-vaunted "conventional macroeconomics that relies on exact methods based on mathematical models". And you're going to have to back up your claims that "A lot of mainstream economists in fact say that giving Economics Nobel to development economists is not right". You know, with references, like an actual scientist would.
You are absolutely right. SG's prying and prodding to pegion-hole Mr Banerjee into some idelogical category is childish at best, shady at the worst. Such is the disingenuous nature of our journalism. Thank god Mr Banerjee to his eternal credit dispelled any such leading suggestion to box him in, out of hand.
This here is what a TH-cam comments section should look like 😁
The day ThePrint stops having audio issues is the day it would have transcended to another level of journalism.
Brilliant. Full marks to Shekhar and Ninan, for bringing out the best from Abhijeet. God Bless. Cheers
Mr.Banerjee's point on professionalism is Awesome 👍👍👍
Mr Gupta...this session is not about you..its about Dr. Banerjee and his views/thoughts...it seems (and not only this program but other off the cuffs that I've seen) that you are more interested in self aggrandizing, are very condescending (oh I'm not an economist but the proceed to define economics science) and generally very irritating in your manner of questioning (this is not an inquisition!). Also please stop gesticulating to the audience when your guest in in the midst of answering a question - it shows disrespect.
Pls stop!
KG Muthukumar Glad you said it.
Not only Shekar Gupta, but also MOST of the Press People assume that they are World's Expert in Public Policy, Macro Economics, Political Theories & Practice etc. This is true of MOST pressmen in most of Third World....Yes, it is irritating. But, they say they ARE the BEST in India!!! Lol..
Absolutely. Mr. Gupta's gestures suggested that he had all the answers. Mr. Gupta looked dismissive of many questions, whereas his question pertaining to Macro Economist and Dev Economist was a real stupid one. It is definitely not the case that Mr. Banerjee became a Nobel Dev Economist without studying Macro Economics. He knows Macro Economics better than many self bragging MacroEconomists. And Mr. Gupta's closing remark on onion -libido connection was actually a wry joke
I disagree
@@YashKansalx on?
Global poverty is the biggest problem to be tackled by the economic scientists of the world. Abhijit along with his wife Esther and Michael through the experimental economics laboured to reduce and remove poverty from the globe. Who can like unfair, arbitrary and dishonest distribution of world wealth? The world is interconnected and interdependent. Poverty is unquestionably a planetary issue. I do appreciate Abhijit and his co-researchers for his excellent service to the suffering poor humanity.
Why is the production so bad!! And the sound is chronic case with Off The Cuff...Pls be professional
Very nice discussion, I really like the audience questions and the way Mr Gupta handled his role
47:00 level of left's trolling 😂😂
In the entire 1.30 hr conversation there was not a singal moment where the host (Shekhar Gupta) mentioned the name of the book they were discussing
(Some tips for the next Off the Cuff episode)
Well said
52:00- 53:00..was such kind of trolling 😂😂
You actually should bring in Jagdish bhagwati too. Hope you do that. Great discussion.
Excellent point. We generally uninitiated but curious folks do need to hear both sides of arguments. Otherwise there would remain a big void in our understanding of the affairs if state ergo be less than a responsible citizen in excercising our franchise at the ballot box. One lives in hope that someday would take you up on your suggestion.
Thanks for Uploading.
Regarding direct tax he is totally wrong. First there is corporate tax, then dividend is taxed thrice. In total, a company with 100% dividend payout gets taxed 50% of its profit. Just because he knows RCT doesn't mean he is in a position to answer questions on all branches of economics particularly financial economics, tax and public policy
How’s the economy going stupid bhakt uncle?
And who are you to say this?
@@NikhilMathew122333 Google the name.
Shekar G:- Are u a Left ,central Or Right?
A B:- im A Left ❤️❤️❤️
AB...we r proud of you...
As the saying goes the fatality about good decisions is that they are often made late because no one knows if a decision taken would prove to be right or wrong. This stems from the complexity of factors that shape and manoeuvre the results and while one can hazard a guess there is no magic wand that can make every decision successful. To that effect economics is a field where you become great when your decisions turn out right and not the other way round. Generally, a great economist should be able to clairvoyantly say if a policy will yield results or not which often it does not happen.
abhijit ji ne pseudosickulars ko uncover kar diya. He said after meeting PM, "PM knows how you people tries to use me to mislead people against him. Kindly stop doing such things"
Such an important discussion and such skilled presentation platform and yet it is so poor in technology application! Very much disappointing. Why not use professionals to make it a successful forum?
Setting this aside; I would like to know why attention deficit exists in the Indian economy management for improving the basic infrastructure; which reduces the cost of product reaching from the production place to the retailers? Why there are fewer innovations and research incubators?
All Indian events have sound problems.
You'd be surprised to know that it's not an India-specific problem
so t.y. shekhar gupta ji n i have realized dat deir izz very good journalism going on specly d way all youngsters female journalists doing xcellent work must add specly articles with d hard work on balances so i hav shared print wit my female friends and sister to get xcellent journalism which gives us left ryt centre views so we r now eventually part of the print
Many people are arguing Winning Noble doesn't mean he knows everything about economy by that logic winning election does not make one almighty.
That is true, that's why Modi has to backpedal on many of his decisions, tax increase for example
I am not sure winning an election can make him / her almighty, but TO WIN AN ELECTION you should turn DEVIL
@@premprasad3511 by that logic voter is mother of devil... It makes you devil ka baap if you are a voter
Quality of Education - biggest issue in India today.
Exactly
Eisenhower's time was immediately after world war two. The entire Europe wanted to rebuild. America provided material and money for that and that is why the USA grew the best and high marginal tax was not an issue
When Piyush rightly said Banerjee is left right,many liberal criticized. Now Banerjee himself said he is left.
What is left or right a good professional is good listen & take advice on his subject
Why pyush goel or Mr modi has not been given Nobel prize
Mr kamath be sensible politician can never appreciate
Mr Sunit Jain, You have not understood my point. I criticized liberal's attitude against Piyush's comment & I am happy an Indian origin US citizen Banerjee got Noble Prize. Banerjee & other two Associates got Noble Prize for their motivational "for their experimental approach to alleviating Global Poverty" He has done PhD in Economic subject. How ever it is not necessary that to become PM of Country or RBI or become CEO of Infosys or IBM or Microsoft or Yahoo or to become President of USA or Russia, one need not to have Noble Prize. Noble Prize winner has never become PM or President. One can not say Noble Prize winner has all knowledge of word or they are only genius in the world & remaining all in below IQ of Noble Prize winner.
@@spk12840 rip bro
He should check out Andrew Yang!
Regarding ai ?
I saw this conversation in the form of AUDIO instead of VIDEO. But I felt very bullying behaviour by Shekhar in order to make the Nobel laureate to speak less due to throat pain. However, let the audience to ask a question.
Interview was wasted by Mr. Gupta. Abhijit is an economist. Why forcefully drag him to answer political questions.
Which book is he talking about?
A guy asked - " is corruption good for economy" ? Put to a welfare economist ! Unthinkable height of stupidity.
That is a legitimate question
@@user-zl1nj8ye5g Nobody questions "legitimacy".
welfare economist might try out this great idea in their controlled randomized trials by randomly asking "poor people" to turn corrupt and monitor them under controlled conditions. If the experiment shows that turning corrupt helped them to uplift themselves, they may well publish this stunning result in the most prestigious of journals...claiming that they have done bold experiments that can consign conventional wisdom to dustbin paving the way for a radically new approach to dealing with poverty..
Moronic activity would follow with media frenzy will only adding to aura of the newly minted accomplisher ...all that remains is another Nobel + plus another turn for poor Alfred Nobel in his grave...
He can only mutter : ....but this ain't science...!!
But ghosts are not supposed to speakj out you see....!
@@user-zl1nj8ye5g Manmohan Singh said 10 years back - "corruption is the grease that moves the wheels of economy"....was dead against that man.
But after around 3 1/2 years post demo, tend to agree more!
Sadhguru knows all these, why to waste time interviewing Abhijit Banerjee!!
Shekar Gupta... A little disappointed with your hosting. Yes, this is your floor, but you have made it into a line of people you know.. your neighbor.. your friend who came to your wedding... a guy running a scanning center... come on......shameful...
You should focus on meritocracy....
If bjp follows Abhijit Bannerjee s suggestions...there will be a political crisis from economic crisis!!
Funny part is in 46:15 Widow's Cuisine
I don't agree with what he said on NRC. He is saying we should welcome talent. But one fact every miss is NRC is for illegal immigrants. Nobody is against legal immigrants. Talent comes through legal immigration. Not illegal immigration.
1:16:05 - 1:17:07
Only 25k watched this but you will find a million view in stupid things.
spoken like a true Bengali
Because most of the voter cannot understand English, together with our honourable prime minister..
i think he izz very2 honest
Every time in off the cuff MR. Shekhar you never used good quality microphone especially for guest invited. We are barely hear out Mr. banerjee , his voice is almost inaudible. Do you have ony one microphone for yourself.
We need Kaytilya`s economics. Unfortunately in our universities, we do not study Kautilya, but only the economics of Adam Smith, Ricardo, John Stuart Mill, Bentham, who are directly against the philosophy and Dharma of India.We need PSU, more of these. What have we gained over the last 25 years because of privatization. We lost $2600 billion for ever to various foreign banks because of privatizations and the creation of persons like Anil Agarwala, Jindal, Mehul Choksi, Ambani, Adani, Ruia etc etc, who have continuously robbed the banks in the name of enterprise.We lost $2600 Billion since privatization was started in 1992 upto 2016. That is the work of the Private Sector, they steal from the banks, they do not create wealth for the country, but only for themselves.
Proves how Ignorant you are about any kind of economics. Do you have any idea how many PSUs are Profitable? Truth is while Vijay Mallya ran away with 1200 Cr, Air India has bunt excess of 60000 Cr of taxpayer Money ie 50 times more.
I dont like Shekhar Guptas comments, jokes and questions and his way of asking them.........I many a time see him having a biased view..still he is better than many godi media..i have to admit
Proud of you Abhijeeth
Business Standard Editor forcefully highlight word "Saffron" to Banerjee something likesome bad omen. Banerjee is clever to understand hidden agenda & rightly say Saffron is good color. Mr Banerjee be careful in your Interview with Lutyens Journalists
Sekhar Gupta waving hands and making gestures all the time to the person passing Mike so disturbing and annoying ! Disrespectful as well !
Shekhar is disappointing,... Let's some ask two questions and offers 3rd too.. But to others acts different...
Shekar seems to be leaned towards right most of the time now a days , that is when he parted ways with NDTV. He is a soft right
You mean, he's becoming more non partisan.
If left is in power then amartya sen abhijeet banerjee were in cabinet finance ministry...
The biggest poverty reduction exercise in recent times has been by the Chinese, and that was not by giving freebies but cracking the whip on the workers ! Freebies are fine in rich and underpopulated countries like the Scandinavian nations. Others like UK and France, esp UK, are feeling the heat with their free housing and healthcare with immigrants choosing to live off the bounty of the natives. In India with such a diverse and large nation the Basic Income scheme suggested by Bannerjee will only lead to a Venezuela like end.
Although deftly handled by Mr Banerjee out of the irrelevant foggy zone, Sekhar Gupta's badgering with obscene interest to pin down his political affiliation is misconceived,naive or mischievous. This is an egregious dumbing down of a programme which could have been potentially an intellectually satisfying even an enlightening one. For pete's sake Mr Banerjee was not filing for his candidacy in the local election.
To be honest, that's how he has always been
Its not a vendetta towards banerjee, but the political animal inside SG that kinda finds its bearings to understand an individual from thier pol. Preferences.
He did that to even sadhguru. Lol
So it is kinda expected of him, cut him some slack buddy.
@@vj8593 I never thought the main purpose of journalism is to rub the people wrong way. Though some of his acolytes think he is the best thing since sliced bread.
@@monojdas-gupta5918
Lol he def isnt the best.
He is biased, but I guess not towards any ideology nowadays, but more towarda an egocentric view of how people operate.
He thinks because his tendencies and actions are politically motivated, everyone's is.
Noble eisa nehi milta..modi party ko e baat pata hona chihey..
Nobel milta hai angrezon ki chaatne see....
Amarthya sen ko bhi Mila tha Rothschild ki chatne ke baad.
Pseudo Prophet agar angrezon se itni problem hai to unki company mein kaam kyun karna chahte ho. Google, Microsoft,youtube sabke office nikal do india se. Bc dimag to sirf modi ke paas hai baki sab dunia mein makhi machar marne aee hain. Modi ke hisab se to 15-16 saal padhne oe baad chai bnana ek acha option hai. What a great pm. Cow ke naam pe log mar rahe hain or rape hota hai to vahi rss vale kuch nahi karte. Ladkiyon se jada cows safe hai india mein. Chandryan to modi ne bnaya isro vale to PUBG khel rahe the. Border pe bhi rss ki sena khadi hai. Indian army to bas marne ke liye hai. Kya hogya india ko. Bas saala bjp ke kaam. Upse ke exam paas karne ke liye log itna padhte hai or pm anpad bna dia jisme bolne ke alava koi talent nahi hai. Rafael ki puja karne se to vo unbeatable ban jaega
@@amaysingh8928 kaash ye sab Kiya hota, to ask India ke pass bhi Baidu, tencent, WeChat aur Alibaba jaisi companies hoti....
Par hamne nahinkiya, China be Kiya...ab different dekh le... Chinese angrezon ki nahi chaatte hai.
Par ye sab tereko samajh nahi aayega, Teri brainwashing absolute hai bro.
Prem Prasad Bihari is talking about wealth creation.
"For Forms of Government let fools contest; whatever is best administered is best." - Alexander Pope. Just as the organized private sector cannot provide enough jobs, the government too lacks the capacity to productively employ millions of people. Since neither the government nor the organized private sector has sufficient capacity, the informal sector fills greatest part of the space. International Labour Organization (ILO) report 2018 found that 88.2% employment in India was informal. World Bank 2016 report said that automation threatens 69% of jobs in India. According to World Economic Forum's 2018 Report, Machines & Robots will handle 52% of current work tasks by 2025. So the net gain in employment in the formal sector would be much smaller & that is worldwide trend.
In India the main problem is that most jobs in informal are outside the ambit of laws covering minimum wages & other benefits. They have job insecurity, earning volatility, no pension or healthcare cover. However informal workers may not be marginal or temporary like auto-rikshaw, Uber or Ola drivers. Govt’s job is to Improve quality of informal work & provide social security benefits as market forces are cruel & they run on profits. The Govt has rightly introduced for workers of informal sector : (1) Pradhan Mantri Shram Yogi Maandhan PMSYM for monthly pension after the age of 60, (2) Ayushman Bharat for healthcare, (3) PM Jeevan Jyothi Bima Yojna : free life insurance scheme & (4) PM Suraksha Yojna for accidental death or disability. These social security schemes provide compensation to low wage earners.
The report by Confederation of Indian Industry CII released on 8th March, 2019 showed that the net jobs created in the MSME (Micro,small & Medium Enterprises) sector in last four years has been 13.5 - 14.9 million per annum.” The Govt. has therefore given 2% interest rate subvention to all MSMEs while MUDRA loans will be very helpful for generating gainful employment in the micro sector specially in self-employment sector. Till date MUDRA Loans of 7.5 Lakh Crore have been given to 13 Crore people. Even if 13 Crore entrepreneurs employ average 2 additional people, 39 Crore people get some gainful employment. So the economy is much more than what economists flaunt but experienced politicians understand. Govt rightly avoided socialist pitfalls by not giving doles as Abhijit proposed in Rahul Gandhi's NYAY Scheme but incentives like interest subvention on loans for housing, for MSMEs & linking MSME loans to GST compliance.
actually i have left watching news channels now i get most news with just a little views
If you have to alleviate poverty or think about poor people, you should have a right ideology called left the so called left. There is nothing like centre you have to take a stand.
If you actually read between the lines, he would vote for Arvind Kejriwal led AAP if given any chance, but will not say for obvious reasons. ;)
Kuch Bhi!
@@johnlewis7476 Haan kuch bhi.
Shekhar Gupta is a annoying uncle in our family functions who tries to stalk the thunder all the time . This is the problem with Indians we as a nation have ADHD and memory problems .
Shekar Gupta's jokes seem lame.
word that I learnt from the talk - bully pulpit
Prem prasad who cannot a job of peon in MIT is talking about wealth creation
This shows how little you know about how entrance into MIT and other institutes of Eminence is done.
not impressed,cutting taxes is good,if that money is spent by the tax payer and help the economy grow.If that money is put under the mattress ,it will not help the economy.
Sekhar Gupta is bullying the audience.
Most irrelevant and irresponsible questions being asked by many...and S Gupta says marvelous audience
Class of Shekhar Gupta got exposed !
He was left because he is left.
It's so painful to hear this conversation.. Prof Banerjee was stretching way too much!
Unfortunately, rather than asking about the applicability of his research and work, his views on where developmental economics is going; the two interviewers esp Shekhar Gupta took him down the political path (I guess because that is the only thing they understand). Dr. Banerjee looked exhausted and was too tired to resist their direction
Shekar .. this was not about you . You are constantly talking over Abhijit. You are not the star here.
Shekhar Gupta is so annoying. His interferences are not helping; I like his views, and I watch his programmes....but he really needs to let other people do their thing on stage and perhaps sometimes stay away if he has nothing to do with the topic.
Can't believe he got the Nobel prize. His responses look very ordinary.
Ha ha ha, the brilliance lies in the ordinary, not modinomics and extraordinary talk
I know. I don't know why he is not speaking in the secret language of Nobel prize winners.
Even Barack Obama Nobel so not surprised . Even they will give Nobel to Trump too.
@@omduttdixit3433 they gave it malala as well, for getting shot in the head, like it's some kind of an achievement. 😂😂😂
Wow ordinary picks ordinary. Heard of that?
Prem Prasad Bihari who cannot get US Visa legally is taking about wealth creation.
Known Unknown municipality truck is taking stray dogs causing public nuisance away..Hide somewhere..
@@premprasad3511 : All Biahris are stray dog.
Lot of people asked irrelevant and stupid questions.
Intellectually Modiji is no match of Abhijit Banerjee. There is a great danger of Misunderstanding Abijit babau' Intelectual , education al Ideas
Jagdish Bhagwati iz a numskull compared to geniuses like Dr. Banerjee or Dr. Swamy
Dr swamy would have put down Banerjee even more
Datz their own difference of economic thoughts and views and schooling, my statement iz from a neutral 3rd person's aspect..one short example, dr banerjee and dr swamy both opposed demonitisation, where bhagvati wholeheartedly supported it, now see the tragic imact it created on indian economy
Yogendra yadav se jyada irritating koi sound nahi karta 🧟♂️
When Noble Prize was declared , I was not knowing whether Banerjee was Right or Left or in between nor thought in that angel . When Banerjee said that mantra for eradication of poverty is give more & more Money to Poor which surprised me. Than he said imposing higher Tax on Corporate houses,Rich & Middlle class is justified so that more & more money can be given Poor & said such increasing Tax on Rich,Middle Class & Corporate house won't affect growth of Economy. This is nothing but ROB PAUL TO PAY PAUL which is basic of Left ideology. That made me to think Banerjee must be a Left influenced. Today Banerjee himself confirmed he is left influenced. But Mr Gupta or his Associate may not like confession.
His DISLIKE for wealth creators is so clear and obvious as is his bias against BJP
You are a Bihari chutia
please respect at least nobel winner . he is only sharing his views
@@knownunknwon8230 you are a bumpkin "chutiya" with your brain located in a wrong part of the anatomy..
@@raghuveersingh4688 Where did I disrespect him ? Or is just passing a critique disrespectful ?
I respect the individual and the scholar in him but very strongly disagree with the theories of welfare economics.
In fact, while economics - the mainstream macroeconomics - is a logical and rational subject it's still not an exactly science in the same spirit as physics. Development economics is far cut off from.macroecomics. it is too subjective and opinionate by; ts very nature and is more of an ideology than an intellectual inquiry in itself.
The founder of Nobel Prize - Alfred Nobel - never willed a prize for economics. In fact the prize for economics was instituted much later..in think in late 1960s. It was even opposed by Alfred Nobel's family .
One more point: The economics prize in question is not a Nobel Prize ! It's given by the same committee and on the same day but not the same as a Nobel. Alfred Nobel dint will a prize for economics !!
you said that he is bais against bjp . i only try to share my views and said that someone who win noble for our country can not be bais against a ruleing govt. he just sharing his thought . otherwise i like your reply and this is the best way of communication with respect and logic .
Modinomics is worst
We must draw conclusion from chinese miracle and design policies accordingly to move people out of poverty, not this hippie couple who are bound to make India into Venezuela.