Rana Foroohar for Age of Economics - Full interview

Age of Economics: in the first part of this project a diverse group of global thinkers answers 8 fundamental questions about economics and capitalist civilization. (Interview number 2)

0:00 - Prologue
01:21 - Intro
01:39 - 1. Why does economics matter?
04:20 - 2. What are the differences between economic science and economic engineering?
09:29 - 3. What role does economics play in society? Does it serve the common good?
15:10 - 4. Economics provides answers to problems related to markets, efficiency, profits, consumption and economic growth. Does economics do a good job in addressing the other issues people care about: climate change and the wider environment, the role of technology in society, issues of race and class, pandemics, etc.?
20:13 - 5. As we live in an age of economics and economists – in which economic developments feature prominently in our lives and economists have major influence over a wide range of policy and people – should economists be held accountable for their advice?
24:05 - 6. Does economics explain Capitalism? How would you define Capitalism?
28:11 - 7. No human system to date has so far been able to endure indefinitely - not ancient Egypt or Rome, not Feudal China or Europe, not the USSR. What about global Capitalism: can it survive in its current form?
31:40 - 8. Is Capitalism, or whatever we should call the current system, the best one to serve the needs of humanity, or can we imagine another one?

About Rana Foroohar
American. Business columnist, associate editor at the Financial Times, and also CNN’s global economic analyst

Foroohar spent thirteen years at Newsweek, as an economics and foreign affairs editor and as a London-based correspondent covering Europe and the Middle East. During that time, she was awarded the German Marshall Fund’s Peter Weitz Prize for transatlantic reporting. She has also received awards and fellowships from institutions such as the Paul H. Nitze School of Advanced International Studies at Johns Hopkins University and the East–West Center. Foroohar then spent six years at Time magazine, as an assistant editor and economic columnist. In 2016 she published her first book, Makers and Takers: The Rise of Finance and the Fall of American Business. She joined the Financial Times as a columnist and associate editor in March 2017.

Interview by Fabio Dondero

Music: J.S. Bach, from The Well-Tempered Clavier. Kimiko Ishizaka, piano. Video by Fabio Dondero

[ponypony]

I just love how YouTube sometimes gives you free education. Very interesting video❤

[jaiku]

A mature and holistic take on economics. W need more women economist for this reason

[nancylawless]

I run a not for profit charity
I’m sending this to our Board
We are at the forefront of post neoliberalism in the NFP world
And the future is now
Thank you for this wisdom and good sense

[psikeyhackr]

What has planned obsolescence done for the depreciation of durable consumer goods since Sputnik? Economists do not talk about Net Domestic Product much. The NDP equation has the depreciation of capital goods not consumer goods.