Nobody is Safe if Someone is Unsafe

A dialogue between Jayati Ghosh, Rohinton Medhora, Joseph E. Stiglitz, coordinated by Robert Johnson at the 2021 Trento Economics Festival

The world won’t emerge from the pandemic until the pandemic is controlled everywhere, and this is a special concern because of the new mutations that are likely to arise where the disease is running its course. So too, the world won’t have a robust economic recovery until at least most of the world is on the course to prosperity. Global growth is far more muted now than then, and inward-looking policies in some of the nations where growth has been restored have resulted in an increase in their trade surplus, attenuating the global impact of their recovery.

[debralegorreta]

Capitalism died October 2008. Since then the capitalists have been going through the five stages of grief: denial, anger, , bargaining, depression, and acceptance. What we see here is George Sros going though the bargaining stage -- "a reasonable profit" b.s.
The capitalists in the bargaining stage of grief, as those we see here working on behalf of George Soros and others like the Davos dinosaurs, like to believe they will remain on top and in control. They blame the pandemic and are a long way from accepting the fact that capitalism is dead and does not work.

[itzenormous]

There is no way to re-imagine or restructure a system based on the expropriation of surplus value and the weaponization of debt.

[rickbraun]

We have to accept that no one is safe.

[scottmcloughlin]

You are calculating with the WRONG UNITS. I attended Harvard. At Harvard I joined SASC (South African Solidarity Committee) in order to help FORCIBLY DESTROY the (colonizing white racist apartheid) South African government. That's a matter of historical record. I acted in league with anti-racist Christians and worked directly for the Unitarians myself. YOU WRONGLY PRESUME GOOD WILLS here in North America. You should presume your bodies are SURROUNDED by hostile combatants LIKE ME and other Christians who OVERTLY CONDEMN racists (and their "elites") to hell fires here on earth. I'm saying obvious things FOR YOUR BENEFIT. I and others like me (Christians and Harvard students of my type) ONLY wish upon any leftover North American colonists the same horrid suffering we inflicted on racist colonizing South Africans. Obvious? Now it is. That includes ALL the students and faculty you have ever met. Now your fates should be obvious. You should STOP BABBLING FOR MONEY and prepare yourselves for the afterlife. This is true for all the babbling colonial filthy remaining in the Western Hemisphere. Got that? Great!

[Achrononmaster]

@13:34 governments who have public interest at heart (too few) do not ned to merely "nudge" the corporates. They can shut down any corporation deemed a harm to society, and put them under statutory management or worker management. It's a political choice not to do so (because most politicians are in the pockets of big business, rather than the average common voter). Corporations only exist by government law, and people seem to fail to remember this! There is no need for a democracy to put up with nefarious private interest co-opting public purpose. Also, if you've understood MMT (Stephanie Kelton's work) you know a government is a currency-issuer, they do not need money from corporations. Corporate taxes could be zero and that would do nothing to impact a government's capacity to spend and invest in public goods.

[alejandrobolanos]

Thumbnail looks like someone using a filter

[bobby-ptxi]

Spend your money among different assert categories like Bitcoin and stock, then further allocate those funds within each category.

[tom]

I just wanted to drop by and let everyone know I won't be watching this video because the title is just too moronic to get past.

[PCgameCheck]

No one is safe- from heavy breathers with sensitive microphones.

[Achrononmaster]

@37:00 Jayati needs to read _The Deficit Myth_ by Professor Kelton. Capital flight and "tax-payer funding" are related myths. Government issues the currency, it does not need tax return for funding a single thing. Tax return creates continued demand for the currency (countering inflation pressure) it does not "fund" the government. If capital production "flies away" it's probably a GOOD THING, someone is producing things, if we get them back via cheaper imports all the better. It is dumb politicians who make capital flight a bad thing, but failing to invest in new jobs. You then have more fiscal space to spend to invest in even better jobs domestically. A Job Guarantee is always an option too, to support labour during industry transitions. Most capital flight is thus a good thing, if the politicians only understood it does not need to cost a single job, it just moves labour from one industry to perhaps even better public good work.

[uncletimo]

"Nobody is Safe if Someone is Unsafe"

LOL
If one of us dies, all of us die

[Achrononmaster]

@37:00 Jayati needs to read _The Deficit Myth_ by Professor Kelton. Capital flight and "tax-payer funding" are related myths. Government issues the currency, it does not need tax return for funding a single thing. Tax return creates continued demand for the currency (countering inflation pressure) it does not :fund" the government. If capital production "flies away" it's probably a GOOD THING, someone is producing things, if we get them back via cheaper imports all the better. It is dumb politicians who make capital flight a bad thing, but failing to invest in new jobs. You then have more fiscal space to spend to invest in even better jobs domestically. A Job Guarantee is always an option too, to support labour during industry transitions. Most capital flight is thus a good thing, if the politicians only understood it does not need to cost a single job, it just moves labour from one industry to perhaps even better public good work.

[philgwellington]

" Nobody is safe etc etc..." You can't keep me, or yourself safe. What a silly title. Life isn't 'safe' never has been, and counter to what authorities want, never can be. Everyone wants to go to heaven ? Not me .. the freedom to determine safely is an individuals right to be respected, not determined by central powers.