Andrés Velasco on Oil Shocks and Financial Crises
Listen to the original audio · Transcribed with NVIDIA Parakeet · Why times can differ in your player
Economic growth is important. You know, you only hear degrowth ideas from citizens of rich countries. You know, you don't hear that in India or in Africa or in Brazil. People want to grow. And now the good fight with Yasha Monk.
Well, for the last few days I've been finding myself thinking about the world economy. I'm thinking about its state at the moment. Is the war in the Middle East leading to a permanent increase in energy prices that might lead to a new kind of oil shock? Is this the beginning of a new recession?
How dire is the state of the world economy? And are we going to remember this as the beginning of a different world order? Are we seeing the death roes of an economic world order marked by free trade, by globalization, and by American dominance in these days? I've also been thinking about what the right policy approach is to making sure that we have global prosperity in the coming years and decades.
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