#59. Seismic Shifts; How The COVID PANDEMIC Changed The Global Economy

In this episode we host Sourodip Paul, a former employee of the World Bank to discuss the complexities of the global economy, focusing on the contrasting impacts of the 2008 financial crisis and the COVID-19 pandemic on economies worldwide.

Key Topics Discussed:
- The differences between the 2008 financial crisis and the COVID-19 economic crisis.
- How supply chain disruptions and global lockdowns affected the economy during COVID-19.
- The importance of trust in financial institutions and why bailing out banks was crucial in 2008.
- The unique challenges of inflation post-COVID and why traditional solutions like raising interest rates may not always work.
- Various tools and strategies governments can use to combat inflation.

Join us as we explore these critical issues and more, shedding light on the importance of understanding and addressing the lingering effects of colonization. Don't forget to like, comment, and subscribe for more insightful discussions!

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Appreciations for this Episode:
Host: Terku Andrews
Guests: Sourodip Paul
Video Production: Andrews Terkpertey
Video Editing: Samuel Okuadjo
Social Media Management: Pearl Kwadade
Signature Tune Production: Ofosu Ababio (Super Nana)

Timestamps:

00:00 - Introduction
00:54 - Welcome to The Shaft Podcast
01:26 - Overview of the Episode
02:07 - Introducing Shorodip Paul
03:08 - Common Fallacies in Economics
04:30 - Government Spending and Debt: Context Matters
05:45 - Comparing the 2008 Financial Crisis and the COVID-19 Economic Crisis
08:56 - The Impact of COVID-19 on Global Supply Chains
12:31 - The Role of Banks in Economic Stability
15:01 - Why Bailing Out Banks Was Necessary in 2008
19:09 - Different Solutions for Different Crises
21:05 - Seismic Shifts in the Economy Post-COVID
24:31 - The Double-Edged Sword of Inflation
29:06 - How Governments Combat Inflation
35:31 - Is Inflation Always Bad?
39:12 - Tools to Deal with Inflation