China's leaders were trained as engineers who build vs. westerners are mostly lawyers and politicians.

@alanfriesen9837

5 жыл бұрын

I'm not sure it's a bad thing for law makers to have a background in law. I think it's better than for them to have a background in business. Businessmen have an adversarial relationship with regulators and consequently those that become politicians spend their energy trying to emasculate the government. The other thing China's leaders have is a realistic fear of being attacked and destroyed by a stronger power. That's a strong motivator for taking a big picture outlook. It's one we haven't had in the West since the end of the Cold War (not that I'm advocating for a return to Cold War levels of paranoia).

@trackmonger

5 жыл бұрын

Emasculating the government is not necessarily a bad thing. Bureaucracies tend to be self-serving. This why as governments get bigger they become less efficient because the multiple layers of bureaucracy required hinder the ability for economic growth.

@beatosu20

5 жыл бұрын

Stephen C Yang as an engineer, the last thing you want are engineers in government. Machines are not people. They have no natural rights and act fairly predictably. People have natural rights and are endlessly complex, especially when considering their interactions with one another and their surroundings. Allowing people to be free is both the most moral AND effective way to build a prosperous society. Studying Plato's Republic helped point this out to me.

@alanfriesen9837

5 жыл бұрын

Nick F, unfortunately history hasn't shown where freedom has led to prosperous societies. Freedom is beautiful in already prosperous societies with nice healthy safety nets, but freedom in a non-prosperous society fosters chaos and corruption and generally preserves the economically backward nature of a given society.

@alanfriesen9837

5 жыл бұрын

Mr. Decarrerras, the bigger any organization is whether it's in government, business, church or charity, the more instances there will be within of abuse and because of that there has to be more attention spent on policing within the organization in order to keep it from falling apart. But, left on their own, big businesses swallow up most little ones and destroy the others and large governments absorb or overpower smaller ones. This wouldn't be true if they were inherently less efficient. And as for layers of bureaucracy, unless you have individuals in positions that are not necessary (a result of poor internal policing) then the result is higher efficiency because you're not having multiple organizations performing the same tasks. In fact it's the hyperefficiency of government and other large institutions that's allowed civilization to establish and grow in the first place.

Nice to hear the views and ideas of such an intelligent woman. I learnt a lot. Thanks. I think some of those who comment negatively about her do so because they cannot fully comprehend what she's saying.

Six economic headwinds deserve serious consideration for those who think further than their nose. It's good to hear from an informed woman on real economic challenges rather than today's sad manufacturing of facts for personal power purposes through the everyday mining of fears -- Predictably leading only to fantasy-and--further-growth in American tragedies...America and the world needs more of such intelligent conversation and thought regarding today and tomorrow....

Just one correction: we China want to have a living standard of Japan not US.

@albertkam6785

5 жыл бұрын

Hailun Yang People in China are living as they see fit in their live style. Is Japan living standard better? I doubt it.

Dambisa sits on the board of several banks. I would take anything she says with a grain of salt. When it comes to understanding the political economy and macroeconomics, Prof Steve Keen is my man.

A good point of view always comes from outsiders rather than arrogant inside politicians

Another big factor is lack of training. Companies just do not train any more. So they double up on employees and this hurts growth.

@alanblanes2876

5 жыл бұрын

Excellent point, tubularbill!

@MooseBme

5 жыл бұрын

Companies, don't want to teach what employees didn't learn in school (reading, writing, problem solving... ) THE ONLY THING THAT MATTERS, I$ THE BOTTOM LINE 2 part-time, unskilled labors, cost less than one skilled labor. High turn over, is a way to keep labor cost down. best regards to all :)!

@alanfriesen9837

5 жыл бұрын

Business has transferred the cost of training to schools which is paid for not by the business but by the employee. It's a great way to shift the burden of risk. Companies are not invested in the success of their employees because they haven't paid for the bulk of their training. And as long as there is competition for skilled labor jobs they have no incentive to do so.

@alanblanes2876

5 жыл бұрын

Moose Bme: That's got to be the biggest fallacy of the year...high turn over is very disruptive and very costly, compared to a highly trained, competent staff that can run the operations on autopilot. Anyone who thinks that squeezing workers - producing unhappy people willing to leave at the drop of a hat, does not have a company that I would want to hold equity in.

@MooseBme

5 жыл бұрын

Mr. Alan Banes, Yesir! I agree and I have said (what you said) many times, to yelling, deaf, loyal company yes people, that ALL ended up leaving for ALL THESE "reasons." I pointed out specifics and watched those trying to say what you and I (previously) said, go away. Because... of what corpearats DO.AND EXPECT: MORE! MORE! MORE! With: LESS! LESS! LESS! I see it all the time. One of my "side gig's," is working for one of the worlds biggest international food corporations and this has been brought up and played out many times! To the point that it's not even mentioned anymore. Just a constant flow new employees, sacrificed quality and HYPE! Who ever is left, "just deals with it," as best and as long as they can. In a better, smarter world; YES! YES! YES! !(: I AGREE WITH YOU :)! Where I live; no. Look at what happened to the Snapple employees, for being part of a profitable company... they HAD to take cuts, or be replaced. Why?: Because. BEST REGARDS to: YOU and YOURS!

This was an interesting interview, and I have a few observations: The discussion intimated at 29:10 that the Glass Steagall Act protects the interests of commercial banking clients from investment [speculation driven] banking interests. It was not made clear that Glass Steagall was repealed, and there is a proposal sponsored by the late Sen John McCain and Sen Elizabeth Warren to create a "Glass Steagall for the 21st Century" proposed bill. It is not clear how the comparison is useful in the context of the discussion of separating false memes from factual on the internet. I am glad that you raised it in the conversation - but this will require considerable exploration. Regarding the internet, I feel that the best thing that can be done from a global perspective is to abolish all false pitches to anyone that are intended to separate valuable consideration from people using any trace of deception. We can no longer pretend that because these pitches arise cross-borders, that we should just ignore them. Global institutions should be affirming common law of contract standards and criminal code sections that prohibit any trace of deception in commerce - these need to be reified at every level - and honest dealing has to be protected. At 40:00 Dambisa suggests that discussion of the best marginal use of dollars for health care is in order. I wholeheartedly agree. Nothing would make better use of comparative economic advantage than if a number of countries that have signed on to the 17 Sustainable Development Goals for 2030 were to join forces in making public interest goals in health care products such as making the lowest prices the standard in all participating countries - and to encourage social economy co-operative production in such things as pharmaceuticals. The cost savings would be astronomical and these savings could be used to improve medical services generally, to include Australia-level advanced care in reconstructive bone and dentistry technology. The porous ceramic lattice can enable new bone to replace damaged or missing bone - and think of what it would do for international solidarity, if casualties of war and violence became aware that their injuries matter to the world community - and that efforts are under way to make well being of everyone a top goal for 2030. I want to see much more public discussion of the 17 Sustainable Development Goals for 2030 - and regional groups that are involved with organizing for practical implementation, such as the Kelowna BC group in this link - made known, and that a discourse on strategy began among all grassroots activists who want real results by 2030. bccic.ca/gecco

Shes a mouth piece for corporations fighting for less freedom, democracy in favor for corporate control and authoritarian rule

To all the people who are cursing in this thread instead of thinking, economist Moyo is raising the flag to something that can be summed up with a Balkan expression about short-sighted politics: Cleverness takes precedence over wisdom. Now, I make that statement regarding the US, I do not believe all Western Democracies are on the same path.

In a very courteous and agreeable fashion Furman pretty well exposes all the weaknesses of this author.

Socialism with Chinese Characteristics is simply more efficient than liberal capitalism. Liberal capitalism does not allow for long-term planning and macroeconomic manipulation; while the system Socialism with Chinese characteristics put in place - the coordination between the massive public capital invested and public contro of finance and land joint with private initiative and investment in manufacture; all controlled by the Party through 5 year plans - allows for long-term macroeconomic investment and planning; thus increasing efficiency of both the political and economic spheres. Reactionaries will deny this and stupidly say that "China is capitalist"; all while not understanding the inner workings of Chinese economy. These people are the same that are saying since decades that China is doomed and that its economy is a wreck. They have been unmasked by historical facts: their theory is obsolete.

Anyone notice the constant fluctuations in the resolution...but only on her not the background?

@IsisAdgerWasHere21stC.

5 жыл бұрын

Savage Reality green screen

@SavageReality

5 жыл бұрын

@@IsisAdgerWasHere21stC. A "Green screen" doesn't effect the person in front of it. She is de-resoluting...nor is this the first time myself and others have seen this before.

Dambiso hit the mark; long term solutions need to be introduced into a democratic model. I may disagree with her view on China, I believe they have huge advantages because of their low cost not only in labour but in capital costs as well.

@cloakintersection7756

5 жыл бұрын

What are some recommendations or possible solutions? Mail in ballots? End gerrymandering? End voting?

@chachi1843

5 жыл бұрын

South Hill Farm She's infact on point. The Obama government had good policies which could have bolstered rapid economic growth but were blocked by partisan Republican politics. Republicans had made it clear that their number one goal was to make Obama a one term President, so Democracy actually aided republicans in dragging the American economy back. If say a leader in China had good ideas that were growing the economy, the government will encourage and make his presidency flexible to further his goals, which ultimately benefits the nation.

No one nowadays can define capitalism. Therefore we have no direction. FDR defined it.

That she say is anti-capitalism ! Pure ideologies !

She didn't give enough specifics to be useful. Just a list of generalities.

"Climate change issues" LOL. I would love to see some actual numbers on that. Like how longer growing seasons will cost money...

The reasons we are not growing have to do with many factors (cited by Ms Moyo) but from my view it’s the growth of the welfare state. Why work when you can get support from the Government? Conversely this welfare applies to Corporations. Crony capitalism drains capital to businesses that are not productive. Shrink Government and the market will grow.

@coolmodelguy6304

5 жыл бұрын

tubularbill - "Why work when you can get support from the Government?" Seriously? Are you talking about the USA? Since 1986 in the USA, productivity output has doubled yet the number of workers required for this output has shrunk by one-third. This translates as 33% job loss and the loss of spending ability when those workers cannot find jobs in the same pay gradient. This job loss has a much larger downward effect on the overall economy than all the welfare programs for poor folk combined. You allude to this in your second comment about the lack of training programs in companies and how they are doubling the workload on employees rather than making new hires.

@davidlazarus67

5 жыл бұрын

tubularbill Look at how that has worked in Greece.

The poorest of the poor in America have it better than the poorest of almost any other country, standard of living wise. Compared to 100 years ago, the least of us in the US live like kings. What an absurd statement. I am pained for reason and language itself.

It’s not democracy that is to blame, it’s different versions of capitalism, some more odious than others. Read Shermer and Pinker on the progressive living standards all over the world

People lost trust in existing politicians, this is why Trump was elected... it appears we need to look at more alternatives such as topics mentioned in this new book.

A little while back, I made a 27 cent purchase, gave the cashier 30 cents, she gave me back a penny. Oh, she could tell me all the ways women are unequal, all the times the white patriarchy oppressed minorities, speak on our civilization's invalidation of gays and trans, and shame us for our apparent islamaphobia, but she just can't count change. So the problem is all but obvious. We are spending too much time teaching our children how to be victims, and not enough time teaching them how to think critically. Which is sad, because if their is any form of oppression going on as they feel there is, a person capable of thinking critically can solve these social issues without having to resort to hubris.

Big words No experience None ----------I cant stand these people that jump on the political wagon to sell books-Worse than a Politician

What a nonsense! The nine Central and Eastern European countries (the Czech Republic, Croatia, Estonia, Hungary, Latvia, Lithuania, Poland, Slovakia, and Slovenia) that joined the EU have experienced a gigantic economic improvement since 1991 despite not enjoying the demographic dividend. The population has been stagnant or falling but the economies have grown strongly. In the same time they have become more democratic than Western Europe.

She has not a small talk sounds pretty reasonable but no contents she has not given any suggestion how can let a African country to catch up the rest of the world if Africa where is Chinese money and the infrastructure they have to wait another Hundred years to catch up the rest of the world

There is no substitute for deliberate and purposeful hard work. Too many 3rd world shithole voters dont udnerstand that. Democracy doesnt equal abrakadabra. Lol

17:30 Dambisa, your neoliberalism is showing. Productivity has never been higher and continues to climb in western economies. What has changed is productivity growth is no longer rising with wages. Gutting welfare (or freebies as she put it) is not the answer. #Bernie2020

Good news, America has never been a Democracy, so what is her excuse now?

@Rpzinna

5 жыл бұрын

G Peribitis Look we can have a governmental system that benefits everyone or do we have to fight each other to get it?

@ronraygun4098

5 жыл бұрын

I'm not sure, are you attempting to make an argument Ryan? America is not and never has been a Democracy, only in very limited aspects, but instead a Republic. Government obviously will never benefit everyone as the people in government do not benefit from poor people, but only the rich. This is not my personal preference, just current reality.

@Rpzinna

5 жыл бұрын

G Peribitis Well, then if you want a start reading books on people who did fight for a democracy and organize, organize, and organize. What makes a social democracy? Multiple parties, parties that will represent workers, labor unions, modern medicine and education, rigorous voting laws, social insurance, Social Security, environmental conservatism, That's a democracy!

This anchor makes a huge amount of assumptions......incorrect assumptions.

western thinking wont agree with her ever

@ Dambisa Moyo if you are concerned about Federal Debt why are you a Republican? National Debt rises under Republican admins, e.g. the Trump tax cuts, and falls under Dem admins. Are you a bad economist and ignorant of obvious facts?

i... i ...me..me l..Harvard...I..me me MIT...I..I Me Oxford.my book!