TED Global: Economic Growth Has Stalled, Let's Fix It (Geneva, December 2015)
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Economic growth is the defining challenge of our time; without it, political and social instability rises, human progress stagnates and societies grow dimmer. But, says economist Dambisa Moyo, dogmatic capitalism isn't creating the growth we need. As she shows, in both state-sponsored and market-driven models, capitalism is failing to solve social ills, fostering corruption and creating income inequality. Moyo surveys the current economic landscape and suggests that we have to start thinking about capitalism as a spectrum so we can blend the best of different models together to foster growth.
Comments
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I really liked this talk, She makes some very good points by saying that being dogmatic is the enemy of growth, and that we should really be dividing policies into "might work" and "probably wont work" rather than "left or right wing policy".
and the idea that China and America who have completely different economic systems could have the same wealth inequality is something i just never noticed before
Great talk overall -
I thought her Q&A at the end was much stronger than the actual talk. Worth a listen.
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Capitalism has outlived its usefulness. Like every thing else capitalism has evolved to the point of not working. The simplest way to look at capitalism is to look how a game of Monopoly. When all the property is bought up unless you restart the game no one wants or can play. That is what the 1% is all about today. They own too much , have bought the politicians to enact laws to game the system in their favor. They own the media and have brainwashed people into believing that if they have a good job with benefits they are part of the problem . They have convinced people if they work just a little bit longer and harder you can join their gang. You can't .
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The only way this talk makes sense, to me, is seeing it as a spokesperson delivering native advertising on behalf of the status quo. Hobbes was not wrong about the nature of man (as man's nature is at present), but Capitalism is beyond rehabilitation. It is simply a evolutionary dead end. That social evolution can outpace planetary degradation, given the relative time spans involved, is highly doubtful at best. Indeed, "We cannot solve our problems with the same thinking we used when we created them." - Albert Einstein.
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She knows things wish meet her,she is blowing my mind She is an economist for sure.
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good talk. important question nations must ask themselves: what is our endgame? do we want economic prosperity and improved average standards of living? or do we simply want 'happiness' yet to be defined or made reliably measurable? if you want the former, capitalism is the way to go, with caveats (the case of South Korea is instructive, which has little to no natural resources yet still flourishes). but we need to be upfront about what this demands of a nation. in order to get to prosperity in the long term, austere (not necessarily punishing) short term action must be taken. institutions must be built and improved, and this is facilitated by growth (hence virtuous cycle). Moyo suggests that if we want to solve intranational inequality, we need to find ways to increase access to capital and the quality of labor, as well as make poorer people more productive. i tend to agree.
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