Some economists say that the ancient remedy for their plight is still the best we've got: If we want a strong recovery after the coronavirus is contained, we will need mass debt forgiveness. LBJ's James Galbraith is a leading proponent of such a jubilee. The economist argues that when the pandemic has passed, "there will be a vast tangle of unpaid debts that cannot be cleared," and thus "the whole financial system will have to be reset."
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Stay-at-home orders in response to COVID-19 have caused widespread hardship. Their relaxation raises concerns about renewed infection. How can we ensure that people and the economy remain healthy? LBJ's James Galbraith joins a panel of other experts to discuss balancing global health and economic recovery.
LBJ's James Galbraith talks with Yanis Varoufakis, an economist and member of the Hellenic Parliament, as well as the former Greek finance minister and LBJ faculty member, to talk about global economic recovery from the COVID-19 pandemic.
Decades of tax cuts and government "rollbacks" have meant that most states' public sectors, including state colleges and universities, have been systematically underfunded. The COVID-19 crisis has brought this underfunding into sharper focus, as hospitals and public health systems strain under the pressure of budget shortfalls. State sector higher education systems, both those with affiliated medical schools and hospitals and those without, are now grappling to survive on state budgets allocations that are critically dependent on state and local sales and income taxes.
Albena Azmanova and LBJ's James K. Galbraith set out the stark choice we face in the world ahead: submit to disaster capitalism, or reclaim the world with a Green New Deal.
Economists, investors and CEOs on how the coronavirus has forever changed the world. LBJ's James Galbraith weighs in: "The right model is that of the treatment of inter-allied war debts after World War II: They were canceled, because dealing with the common enemy was a common effort. So the whole financial system will have to be reset. This is not an ideological point but a practical necessity for reestablishing a functioning economic system."
Inequalities have exploded in all countries of the world in the past 30 years. The coronavirus health crisis has exacerbated the inequalities already present in society (be it housing, gender, etc.). The central question will be whether the end of the crisis will also increase inequalities or reduce them. LBJ's James Galbraith was the lead panelist in an event sponsored by the NGO Centre National de Coopération au Développement, based in Brussels, Belgium.
LBJ Professor James Galbraith talks with Davide Casaleggio about issues including how the state should intervene to support the economy and the population, and also how to revive the economy.
LBJ Professor James Galbraith follows up the DOC's global pandemic webinar on the threat of recession with summary thoughts on economic restructuring, public debt, stimulus packages, and the possibility of a new age of austerity.
Focusing on economics and the threat of global recession in light of the Covid-19 crisis, this webinar featured three expert speakers including LBJ's James Galbraith.
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