The Impact of COVID-19 on the Global Economy. Raghuram Rajan Virtual Harper Lecture
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- čas přidán 28. 08. 2024
- There is no question: COVID-19 is already taking a toll on markets, governments, and populations worldwide. Join Chicago Booth’s Raghuram Rajan for an online discussion, moderated by Hal Weitzman, about what we can expect from the economy in the era of the coronavirus.
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Such thoughtful and thorough commentary. Thank you.
04:19 After giving tons of compliments to Dr Rajan, the SHOW STARTS HERE.
Most promising and will renowned economist who predicted 2008 crisis. Substandard politicians doesn't know the value of this personality. I hope he will get the Nobel prize on economic in coming years.
What will he win Nobel for? What is his big research thesis?
Worst RBI Governor.
@@kshitijx who lets the bhakts out here
@@pratikkhadtale : Pappu Gandhi made me a bhakt. I used to work in Congress IT Cell. They used to pay me 15 Rs per comment. But it became difficult for me to defend Pappu several times becasue of his awkward antics. Few days later they laid me off. BJP IIT refused to hire me, as they don't hire ex-Congress IT cell worker. Because of Pappu, I am jobless. So now I have become a bhakt to expose Pappu and imiginary left ecosystem. Aaaya samajh mein?
@@kshitijx Do internship at RSS then BJP will definitely hire you
thanks so much, Raghuram Rajan sir for understanding the impact of COVID 19 on the economy world economy.
we always remember not only RBI governor but also good human beings and your works for India.
salute to you sir and miss you also.
Feeling lucky to get a chance to hear something from u Sir.
U r really a true genius 👍👍
We need this gem of a person back in India. Bad policy making after his departure has plagued our country.
He is Sonia's bootlicker
@@azhagiriramasedhu4786 Do you have proof to support your argument ?
@@mikeross8621 u go and read the judgement given by UK court
@@azhagiriramasedhu4786 Where it is mentioned such thing about him or it is your remark ? I think he is far more capable and intelligent person so it shows another person low level who comment absurdly on him.
@@mikeross8621 u fuckin asshole study properly the judgement
It's so good to listen to his insights..
Fantastic! Thank you so much for letting him speak and fully complete his thoughts. Just great
Some of the questions raised were tough and difficult to answer for any economist unless he or she has a holistic view of the world's economy, as a whole, at present and analyzed it, in the same way, what happened in the past during almost similar world economic crisis. Frequently admitting the uncertainties involved while answering, Dr. Rajan's explanations were to the point and quite satisfactory.
How we needed you in India! Thanks for sharing your insights with Rahul Gandhi and other Indian media channels. I hope the Indian government is listening.
if Indian government wanted to listen to him, he wouldn't have left Job at RBI.
So happy I "stumbled" upon this! What an intelligent gentleman! A few weeks later but I believe his insight is still relevant.
im so proud to have such a great economist from India
Translate Raghu's line 'we have to be an open world' to 'China has to open up, and not just economically'.
what u mean when u say chjna has ro open up? it has joined trade deals
Delighted to see u and hear ur speech sir , mr.economist of world, mr.raguram rajan sir
My take on the industry which will recover fast in India
1 FMCG
2 Agriculture and related activities
3 Automobiles, 2 wheelers
4 Pharma and Health care
5.Telecom, Telecommunications
6. IT and related services
The industries which may not recover are;
1. Travel & Tourism
2. Hotel and Air Travel, Road Travel, etc
3.White goods,
4.Entertainment, film, television, media
5.Construction, ie real estate
We will see in India, that many people will go.back.to villages and revert to tried and tested practice of
agriculture, cities may not see growth, it is good for the Indian economy, that we will be able to feed.to the last person who is hungry,
This person should talk.about how big powers have failed, Americans and Europeans are living hyped up and fake livelihood, which is exposed and it is infront of the world, it is true in India lacs of labourers were stuck in big cities and unable to.move to their destinations, few were walked down for many kms, but be sure they are taken care now and nobody has lost his life, on the other hand imagine, if nearly lacs of them to be moved around, the trains and the buses would be running evenn now,
I am.sure India will emerge victorious in this fight against the pandemic, because the people are tenacious and strong.
Finally if the big powers can stop their defence spending for two years ,spend that money on health care, building houses for poor, social security etc, then the poverty can be wiped out, you don't require stealth aircrafts, big carriers, Nuclear weapons for destruction, it is only takes an invisible virus to shutdown the entire World
You make more sense that Dr Raghuram Rajan!
I believe Telecom and IT been doing better than FMCG and certainly far better than Automobile. FMCG growth is only in essentials and that too few organisations which could market during lockdown. Supply chain still a threat for FMCG and Agri. Thanks for your analysis.
Prof Raghuram G. Rajan
What the world needs is more such dispassionate scholarly minds looking at the future of humanity , outside the limited scope of nationalistic compulsions and figuring out how structural changes can help the world economy look after the interests of all lives that deserve to exist with dignity.
even to consider v-shaped recovery of the economy by some economists shows the basic calibre international economist we are talking about
very informative video sir, as always, thanks to Raghuram Sir and CBR Team
Sir we need you in India. The concept of payment bank was introduced by you . Previously there was a huge beaurocacy onnopeing the bank account.
You know that all payment banks have failed, right?
@@trojan1506
Do not you use Paytm or any wallet?
Now you will say these two are different. But not .This is Raghuram jee, who cut the beaurocacy of banks and get the job done.
Kindly corrent me if I am wrong.
@@jigyanshushrivastava6153 while I will be the first to say Raghuram Rajan has, like all great economists, extraordinary ability to make complex subjects comprehensible to all, he was not a good central banker, in fact his policies of MPC, inflation targetting and payment banks with no regulatory framework were recipes for economic fall that became visible later, though they pale into significance because of even bigger disasters like Notebandi and GST.
IMO, Top class central bankers were YV Reddy, Bimal Jalan, M Rangarajan. They are still around. Listen to them for India specific inputs on YT. You will find the same clarity and better ideas for India.
@@panditpant3780
You know things without knowing them.
@@jigyanshushrivastava6153 isnt that your most intelligent reply to what I wrote? Wow.
Hi sir Namaste how are you, great to hear from you to out This pandemic situation
Listening from new Zealand
The number is likely 12 - 18 months for a vaccine. I haven't seen much about a "cure". Raghuram is hopeful :)
Sir very true person.great proud of you.
Excellent broadcast !
respect for Prof. Raghuram, but, most of the time it sounded more like speculating on the future rather than a "lecture" on the impact. kinda proves economics is not equivalent to any science as these ppl would want us to believe!
masthan001 😂😂 u caught him.
While we want to start our life similar to what it was prior to COVID, but do we want a similar world as it was?? What's wrong with self reliance? Why capitalism has to survive? Why most nations depend on few nations for essential supplies? Why survival of excessive industrialization of few countries should alone become the basis for our future policies?
Very nuanced analyses
Thank you for this informative video!
The hero that India needs but does not deserve under the current political scenario!
Sangeeth Simon 😂😂 he was thrown out because he destroyed India's economy
@@kushaq1173 I disagree. He was the main guy behind starting the whole NPA thing in all banks- something which exposed the level of non performing assets that banks held on their balance sheets. He's someone who wanted a clean financial system unlike the politicians on the other end.
God have mercy on us
Thank you RR sir
How does this virus parallel with the 1958 Hong Kong flu. It morphed into the 1968 pandemic and apparently is now present in our yearly flu . Can this be the trajectory of this pandemic?
2020 05 13 @ 12:24 hrs. Truly enjoyed Dr. Raghuram Rajan. Added Mr. Rajan to my tick list of wise and informed people to follow worldwide. Thank you for the introduction.
Robert N. Johnson 好人
ACommon1 Connectivity Llc
hao ren
Keep it up 👍🏻🤜🏻
What will be the order of the economics.Esentials in meeting the urgent temporary demand like masks ,ventilators. Rotation of demand and supply ,besides groceries.
Which sectors will shift .Tourism ,restaurants .Will workers comeback .Global demand and supply will change .Air travels and local transportation.Because people will work from home.
I urge you to listen to 'The Ethics of COVID-19 Vaccine Distribution, with Laurie Zoloth', released today. It's very... insightful.
What a cool headed and intelligent guy this scholar is. It begs the question why the Trump administration can’t attract these kind of talents to work for it. It would do lot goodness for the American people. Opps, just forgot, Trump only cares about himself, not the people.
Sir, If Indian govt. Would plan to print new money to stabilize the deficits & though we are also in stage of minimal int. Rates, so will it be helpful for economy or it will create a new financial bubble!!?
Suggestions to employment advice's to corporates
Asvini sir..i m trying to get book George reddy tho na gnapakaalu..but unable to get it..so pls help me to get that book..
Some terrifying moments - migrant labour, job losses, dismal Healthcare, covid stops all other medical treatments in India hospitals closed, government busy helping rich latest is helping private mutual funds which instead of getting punished but find bail out
Extending support to the mutual fund industry improves consumer sentiment and trust in the reserve. Very soon most sectors will need support, centre's support for industries should be seen as a proactive measure not a detractive one. I can understand your frustration but, the lower middle class, middle class and upper middle class all invest in mutual funds and make up for most of the spendings in the economy.
Next NOBEL comes to Raghu...
🤣
For what research?
I listened to great speech of renowned economist .
What extraordinary work ?
Difficult to know what to take away from this perhaps overly calm and optimistic (bordering on naive) presentation. It sounds like he was fine with
the general functioning of the world economy before the pandemic. Really? He has little to nothing to say about growing economic/social inequality. He also says that the pandemic was completely unpredictable. Not really, many scientifically minded people and institutions foresaw
the possibility. His inclusion of political issues in his analysis is zero. Rajan seems like a very nice person to have as a friend or conversation partner but not much here to understand the real world.
Make the Great Depression Great Again!
Hahahaha ROFL
India lost a Gem in RR . What a shame.
The economists think people can be repurposed so easily?? What about reducing expenditure on Defense
When a virus like COVID19 can create such an havoc, why we need to spend on Defence.
@@sureshnair1 You will realise the importance of defence spending if you were inside taj hotel as a hostage by terrorists😂......... Everything has its place in the economy and you cant cut one for the other both are equally important
@@rahultherash You have misunderstood me. What I meant is, if we are equipped with cheap biological warfare like COVID19, though yet to be proved, why we should spend heavily on defense? This is more lethal and affordable.
Mr. Rajan would be PM of India some day.....
How's the neoliberal model dealing with coronavirus? Cuts to medical spending was a great move huh? For profit healthcare doing great huh?
Absolutely. This guy has nothing to say because he’s just hoping everything will go back to how it was on January 1st. The best hope is that Neoliberalism will collapse .
we do not have alternative of it . in india, we have elementary public education system . they are in pathetic condition varying state wise .
His speech sounds like music to me ....and this modi government is telling him an anti national indian...This is just tragic for we Indians.
MBA in Finance degree holder speaks on Global Economy. He knows only Microeconomics and not Macroeconomics.
Who is corrupt?
How do we move towards a better world? Limited capitalism. There should be a limit to making money.. This limit should be put by citizens vote.. The whole world keeps printing money. It is nonsense. If you have some brain cells that are functioning correctly, you will notice that eventually all the money printed will flow in the hands of the top 1 %. Even if I was in the top 1 % myself. I would rather have a limit and enjoy the life. The limit would also make the top 1 % happier human beings.. We are all human trying to enjoy our limited time on this planet.
I am not surprised if crises like these wean away the world, and in particular 'the west' from all their silly 'isms' like capitalism and communism and teach us all to adopt a lifestyle more in harmony with nature. May be nature's raps like these were also one of the reasons, if not the reason, why we see the Indian civilization, for example, start in the BC's in towns and cities and then over time convert to largely agrarian and village based. Or may be the world still needs more such raps to understand that money and power is not the only currency.
Boring talk, I was expecting him to talk about the Economy, Business, and recovery period with some justification & scientific data. One more point No Indian said its a Muslim plot, Don't try to include your personal agenda on a global stage.
no indian ? i think all godi media is indian and they said it in as many words
As the governor of the Reserve Bank of India, he nearly destroyed the economy of India for keeping the rate of interest too high for a very long time, yet at the same time hiding the names of the loan defaulters.
✌☺
Is this guy a render?
India is not saying muslim started it. They are saying the spread inside india accelreated by muslim events of large numbers. Thats fact. Another fact is Raghu remains clueless about India even after getting kicked out from position of RBI governor. Good riddance for india but a lot of respect about his knowledge of US economy.
If you want to test India for COVIS 19,you may require 50 years with current rate
tum log thoda kam carona failao
@@hyugosendai1249 tu tension mat ley muuu ko gaaand ko mask se dhanp ley Bach jayegaaaa 😂😂😂
can't tell if he said anything new.
This lady is a demand and supply finance minister with no knowledge on finance , give Dr Subramanam a chance , he will change India's economic growth.
@22:40 "Capitalism is an important factor for contributing to wealth in the industrial countries".....wealth to whom?.... Still, people like him want the system to function the way it is....After all that people still call him intellectual sounds strange. He was a former RBI governor but I urge people to listen to a former Greece finance minister who is worthy of a name intellectual.
END THE HOUSE-ARREST
The Wuhan car factories have re-opened. What's India and the US doing LOL
If I heard it right, You watch movies nowadays in a packed hall and wonder where the social distancing is !!! Are you out of your f'ing mind !
Please give him a little more credit. You did not hear it correctly. Rajan said he was watching movies ( in his room) which showed people packed in the discos and he was wondering about social distancing. He told this as an example how our expectations of social behavior is subconsciously changing. You do need to listen more attentively
Narrow minded observation from a person already out of his 4 letter obsessed mind. Pl comment rationally on his observations if you can
Sad rumbling of an ignorant educated !
@@rallabhandiprabhakar4750 sound like 'DallaRandi, and talks like one.
@@surajitmukherjee946 Didn't I say 'If I heard it right' ? The way he talked is not really clear....typical Indian habit.
Who is Raghuram Rajan....why that much of importance giving to him. He speaks with Rahul Gandhi about Indian Economy does Rahul Gandhi knows about ABCD of Economy, he only knows "Aaloo se sona kaise nikalta hai" , then we can understand the mind set of Rajan. I don't think he is the only intelligent person in India about Economy.
'Who is Raghuram Rajan.'...kid you need to learn a lot
What a fall in standards!!! RRR is a stand up comedian
Now Rajan Like mafia fraudster lecture on Global Economy.
Rajan is very pessimistic, his thoughts are always negative . There is nothing constructive. He killed India’s economy. Foolish guy
He is froud man.
Educated economist who is good for teaching. Practically, no use.
THIS GUY IS USELESS PROVEN WHEN HE WAS BASED IN INDIA; WAS KICKED OUT AND NOW GIVING LECTURES
Now india has a RBI governor who is in MA in history do you that's appropiate person for the job.
How Hindu will united, they hv caste system
@@rajkumargaikwad8392 rajkumar casteism will never go from our society untill there are Parasite like Amit exsisting in india,he is not the only one you will find majority of North indian villagers and urban population embeded in caste system,they use caste system to create unequal and unjustified hierarchy in system..
rajkumar gaikwad
Caste system is the best way to protect your own breed.
Yes, The wrong side of caste system is, the hierarchy between casts, which only needs to be corrected.
The beautiful diversity in people, casts and creeds, their culture, their language and lifestyle.
Don’t fight for wrong cause bro!!
Fight for genuine one.
Mr susban you need only the people who says hindu muslim. And hate the constructive person.