Link for donation: paypal.me/sankymudiar Guys, we want to work full-time on this, but our financial woes keep us pushing away. If your wallet allows please drop us some support. We prefer the PayPal method since we don't lose half of the money, but you can also give us a super chat. If you are a large donor, we would obviously get in touch with you to give something back if we can. But if you can't no worries. Please subscribe, share, and like. That means a lot already
India hold the key to the success of BRICS in the long term because they are the weakest link in the economic coalition. India is still living in a western colonialism era.
BRICS is sub-imperialism driven by the same neoliberal policies as the West. Russia and China unleashed private for-profit mercenary armies in Africa. These mercenary groups also have mining divisions. These are not liberation forces. They are there to set the stage for mining contracts (not) anti-imperialism.
That point at 12:59 is an excellent one. Get developing nations trapped in debt, but do not ever allow them to fully default. If they default the music stops playing and the game stops.
BRICS nations are leading the way toward CBDCs. These digital currency systems are easily traceable, freezable and subject to micro-control by governments, but I guess it's OK because we are told BRICS is the alternative to the West.
There are 2 subjects, Economics & Statistics that are not natural (or normal) ways that humans think. Economics has a branch called Econometrics = Statistics (data analysis) of economic data. In order to understand Statistics and Econometrics and economic models, you MUST be able to do Mathematics to a reasonably high level. People who are "numberphobic" have no chance of understanding the economic talk they are constantly exposed to. Free education is the key to start solving this problem. Example: I met a recently qualified structural engineer one early Friday morning. He said he went to work every day, paid his rent, bought food and had 1 night out a week but could not save any money. He said he never understood economics but inherently felt our system was "unstainable". I told him to think in marginal terms .... He had a light bulb moment and thanked me profusely. I then explained to him why our system was INHERENTLY UNSTAINABLE.
Without being skilled in sound economic theory, number crunching abilities are of very little usefulness. Mainstream economics is chockful of mathematical models based on widely-acknowledged, flawed assumptions. So are the results coming from them any good? If so, good for whom?
Communism is the dictatorship of the Proletariat, and Fascism is the dictatorship of the Bourgeoisie. Under Communism, wealth is redistributed from the top wealth-holders to the rest of society, and under Fascism, wealth is redistributed from the rest of society to the top wealth-holders. Today we are seeing wealth being redistributed from the rest of society to the top wealth-holders, so what does that tell you?
Did I understand correctly what you said? The IMF austerity imposes nations to release resources or lower the cost of foreign private investments, thus their penetration to your own sovereign market, by restricting imports needed for development (implicit sanctions) which need borrowing against the ability to solve your national debt.
Bingo! Economics is just an ideological veil to disguise the real face of actually existing political economy. There's no such thing as economics devoid of its political roots.
This is a valuable interview for those not familiar with exceptional Indian economists and scientists who are also working around the world in well-known Western universities and research institutions to say nothing of various large corporate entities. Slightly heterodox in stance, this interviewee has much to offer bothe uninitiated and the close follower of geopolitical events worldwide. His discussion of the debt issue is particularly valid and satisfying, although I encourage everyone to seek out evidence for his position on your own.
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Link for donation: paypal.me/sankymudiar
Guys, we want to work full-time on this, but our financial woes keep us pushing away. If your wallet allows please drop us some support. We prefer the PayPal method since we don't lose half of the money, but you can also give us a super chat. If you are a large donor, we would obviously get in touch with you to give something back if we can. But if you can't no worries. Please subscribe, share, and like. That means a lot already
Only IGL does these high quality real shows. Thanks.
It's glorious to hear the Global South speaking its mind!
I really appreciate the straightforward way this economist explains a normally brain scrambling topic.
India hold the key to the success of BRICS in the long term because they are the weakest link in the economic coalition. India is still living in a western colonialism era.
It is nothing western. It is just ancient hindu warrior way. There is no right and wrong, just strength matters.
The animal kingdom rules.
YES! India needs to be more of a team player to get the job DONE.
Fastest Growing Nation is the weakest Link ?
Superb professor & lecture!
Thank you
Is not an alternative to capitalism, but alternative to western imperialism nonetheless
Exactly
BRICS is sub-imperialism driven by the same neoliberal policies as the West. Russia and China unleashed private for-profit mercenary armies in Africa. These mercenary groups also have mining divisions. These are not liberation forces. They are there to set the stage for mining contracts (not) anti-imperialism.
That point at 12:59 is an excellent one. Get developing nations trapped in debt, but do not ever allow them to fully default. If they default the music stops playing and the game stops.
Intro music was a little too loud. Thank you for the amazing video
👏🏻👏🏻👏🏻🙏🙏🙏🐝
Excellent interview. It was very instructive and enlightening and true.
Economists speak gobbledygook, amirite?
Yes, you are if you're referring to most mainstream economists. So, it's time to educate yourself about real world economics.
We Indians like like Thai king. 🎉🎉🎉
BRICS-splaining
BRICS nations are leading the way toward CBDCs. These digital currency systems are easily traceable, freezable and subject to micro-control by governments, but I guess it's OK because we are told BRICS is the alternative to the West.
There are 2 subjects, Economics & Statistics that are not natural (or normal) ways that humans think.
Economics has a branch called Econometrics = Statistics (data analysis) of economic data.
In order to understand Statistics and Econometrics and economic models, you MUST be able to do Mathematics to a reasonably high level.
People who are "numberphobic" have no chance of understanding the economic talk they are constantly exposed to.
Free education is the key to start solving this problem.
Example: I met a recently qualified structural engineer one early Friday morning. He said he went to work every day, paid his rent, bought food and had 1 night out a week but could not save any money. He said he never understood economics but inherently felt our system was "unstainable". I told him to think in marginal terms ....
He had a light bulb moment and thanked me profusely.
I then explained to him why our system was INHERENTLY UNSTAINABLE.
Marginal terms like?
Unsustainable....
Without being skilled in sound economic theory, number crunching abilities are of very little usefulness. Mainstream economics is chockful of mathematical models based on widely-acknowledged, flawed assumptions. So are the results coming from them any good? If so, good for whom?
Well its India talking in their mother tongue so conclude what yo will
There are many spoken languages in India, if you're still not aware of it.
@josdesouza yes but English is considered as your main language and India is proud of it.
@@henrymac506wtf are you saying. Most Indians don’t speak English
Communism is the dictatorship of the Proletariat, and Fascism is the dictatorship of the Bourgeoisie. Under Communism, wealth is redistributed from the top wealth-holders to the rest of society, and under Fascism, wealth is redistributed from the rest of society to the top wealth-holders. Today we are seeing wealth being redistributed from the rest of society to the top wealth-holders, so what does that tell you?
China's approach was to let certain people get rich first, develop the country, then redistribute. That's being practical and a smart move.
Wonderful explanation and easy to understand concept.
Did I understand correctly what you said? The IMF austerity imposes nations to release resources or lower the cost of foreign private investments, thus their penetration to your own sovereign market, by restricting imports needed for development (implicit sanctions) which need borrowing against the ability to solve your national debt.
Yes it's, extortion!!
Confessions of an Economic Hit Man by John Perkins. Read and you will understand what this is all about.
Bingo! Economics is just an ideological veil to disguise the real face of actually existing political economy. There's no such thing as economics devoid of its political roots.
Thank you gentlemen for another informative and thought-provoking discussion! Well done!
This is a valuable interview for those not familiar with exceptional Indian economists and scientists who are also working around the world in well-known Western universities and research institutions to say nothing of various large corporate entities. Slightly heterodox in stance, this interviewee has much to offer bothe uninitiated and the close follower of geopolitical events worldwide. His discussion of the debt issue is particularly valid and satisfying, although I encourage everyone to seek out evidence for his position on your own.
Glad it struck a chord. Stay in touch. Solidarity!
@@IndiaGlobalLeft Bet on it. You gentlemen are doing a fine job.
Jai Hind. Neoliberalism is the nothing more than a new name for Global Brahmin financialisation.
😂
Save the tears for 4th June
Excellent analysis!
Saudações do Brasil 🇧🇷 🎉
Full lecturer
Right-Left/Capital-Social is ideological rhetoric;
There is good social policy and elite self interest
No way! Good social policy is on the working class side whereas elite self-interest only benefits the bourgeoisie.
Greetings from Brazil!
🪴🥀🙏🏻🙏🏻🙏🏻💐