Dr. Subramanian Swamy on difference between Micro and Macroeconomics
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- Опубліковано 22 вер 2017
- Dr. Subramanian Swamy on difference between Micro and Macroeconomics. And why Raghuram Rajan (R3) was a misfit as a Governor of RBI. Did R3 act in a manner that could be construed as being corrupt?
......and a self taught lawyer.I have heard from a lawyer friend that even they are baffled by his legal strategies.Clearly a mathematician's mind at work.
Solar Flare his wife is a lawyer she does everything thing ...and she stays out of publicity
He took weekend classes of Law in harvard when he was teaching mathematics, though he didn't complete his degree in law . (He said in an interview.)
He is a high IQ genius. Law is just framework ... you just need to know algorithms to frame a case. Like connecting the dots.
I request Sree Iyer to make more such videos with Subramanian Swamy on subjects like economics and law. We all would be grateful if Swamy discusses his experiences with academicians/professors/economists/other great people. Please make a video series like on prime ministers so that students like me get to know the real genius, Swamy. Thank you Sree Iyer for doing this.
Why Dr Swami is not being considered for Finance Ministry? There are atleast 3 reasons that I can think of.
1. Atleast two politicians viz. Sushma Swaraj and Arun Jetly does not want him in. Dr Swami was the first to propose Mr Modi as PM candidate as back as 2006. If not Modi then Shshma Swaraj or Jetly would be PM candidate, atleast thats how they would perseive it. So SS and AJ would never like him in.
2. Modi and Atal Bihari Vajpayee have a deep friendship for long. And ABV never liked Dr Swami. So if Modi favours Dr Swami that would be displeasing to ABV. So modi would not prefer Dr Swami.
3. Dr Swami is very straight forward and vocal. Hipocarsy cannot stand there.
Some argue that Dr Swami is strongly hindutva, but thats not the reason. If that is the reason, the Yogi Adityanath would not have been CM of UP.
3 rd reason. A cabinet minister has to kow-tow the line of Cabinet, which he won't.
But now both are no more, should he get a cabinet ministry?
See, Dr Swami is not a strongly hindutva. He married a Christian and his daughter married a Muslim. So you see he doesn't discriminate, but but here's the point that most people don't understand.
In politics you have to be on one side :-
I mean you can't say bilateral things which contradict one another.
Since he hates Sonia Gandhi and is in BJP then he is just spreading the idea of hindutva because that's what his party wants him to do.
Because you can argue on this matter.
But you can't argue that if congress says I want high GDP then you'll oppose that no I want low GDP. So on economic front he is just destroying everyone who is wrong be it BJP or INC. But he has to choose on political front and there also only BJP because he is in BJP.
Ayush Shekhar would like to correct you on the point of marriage- Dr. Swamy married a Parsi. Her name (currently) is Roxna Swamy
Swamy ji is best asset to our country.....I don't understand why bjp can't use him.......
anul kothari Due to hidden facts of swami.
Sudipta Maity Search for his historic relationship with rss and bjp.
Swamy is an opportunist of the highest order.
swamy doesn't want to join dirty politics like he doesn't want to teach in foreign universities
most people who say this as a criticism, are those who have missed most opportunities in the own life. apart from jealousy, is there any reasoning behind your statement? any information that you may know that you can share here?
Respected sir,
I really thank you from the bottom of my heart as this platform is a very informative and interesting for the youth to understand how the roots of our culture go way back in time. I feel that it will be enlightening for us if you could please make a video with Dr. Subramanian Swamy sir on how Shree Parmacharya changed his life.
Well I think he met Chandrasekharendra Swamigal at some point but he has always been instrumental in several of the key decisions Indian politicians have taken be it economic liberalization or atom bomb or sacking Rajan or whatever.
When Sri Iyer speaks, its very loud and when Swamy speaks, its a bit low.
Thousand pranams for this brilliant interview. We need honest, intellectual, human centric, nationalists like Dr. Swamy as our FM. Not sure if Modiji will induct him. My prayers to Sri Sri Sri Paramacharya to bless him and us all with the ministry that he richly deserves in 2019.
Super Human. I studied economy from so many sources but this man has simply blown me and opened so many doors at once. Thanks sir.
A true patriot always keeping his mother land above everything. My pranams
Dr.Swamy is undoubtedly an erudite scholar...
Intelligent, knowledgeable, brave and totally honest..
What a man! Great work by interviewer... It was such engaging conversation!!
Sir, The reason why BJP is keeping Mr.Swamy is that he has taken up the uphill task of going after the corrupt ones in the country. As i understand his first such list is 12 persons. Until he finishes this task which no one in this country will be able to do, he will not take any offical post in the govt. Mr.Gurumurthy in one of his speeches has applauded Mr.Swamys contribution to the country, there can be no doubt in anyones mind about his greatness. Jai Hind.
Very insightful interview. I loved this one. Please keep up the good work....
One of the finest interviews in UA-cam.. I salute you Dr. Swamy for your shrewdness and intellect. And I thank Mr. Iyer for bringing it to public domain where common people can get a slice of knowledge. Dr. Swamy you are magnanimous for sharing your knowledge.
Really Amazing interview, which clearly explains us the difference between Micro & Macro economics .. & the Crook R3 who had vilified intent to destroy Indian Economics !
how beautifully Swamy shifted topic of discussion to his own life story
KARTIK LADEKAR it’s not someone’s life story .. it’s bigger than life ..
Dr Swamy your autobiography will make a great reading and an inspiration for others
Just blown by shear brilliance of Mr.Swamy. So insightful and inspiring. Pitty these videos are not viral!
Very good enlightenment show. Swamiji is one of the genius in Indian.
Thank You Sri Iyer for this gem of interview. Greatest.
Many in this Country like me r surprising,why Modiji is not making Swamy as FM,
Modiji pl don't make historic blunder .Take him to ur Ministry.
Hahaha.swamy won't let him engaging in corruption
Modi is not corrupt but jaitly is obviously
@@125bbna8 prime minister is the head of council of ministers
PGurus is doing a great job. thanks a lot for educating people on a wide array of topics, in fact very essential info., every Indian to know
What a knowledge this man has
very nice intro to Sub Swamy's illustrious past
Thank you very for educating us. You both are wonderful combination. I can visualize you both as Krishna and and Arjuna.
its wonderful sir i am big fan of Dr. Subramanian Swamy his knowledge is wonderful , my request you sir we need to learn more about economics and laws from him. please discuss with him about ancient economics and modern(kautilya arthasastra and manusmrithi arthasastra) and please discuss about how warren buffet and investment banks making money on non-trasparent market ........Thanks sir
Good crash course in economics. Thank You PGurus❤
sir you are doing a great job
Dr Swami - brutal and to the point as always ... he would have made a brilliant professor if he was allowed to continue in academics.
Sir , kindly recommend books which should be read to understand global and india economics.
Please provide him suitable position in decision making or policy making and make use of his knowledge and it is good for the country
The interview would have been much better if interviewer remained silent.
mm mm mm mmm
What a great man Swamy is...just brilliant...
Yes more videos
Respect!!
The interviewer should stop interjecting with a "hmm" after every sentence.
It is a bad habit. Should lose it.
dr swamy should write as much books as possible so that his treasure of knowledge can be kept for generations to come. and he must write his autobiography.
Sir, what is your suggestion to control high inflation. The costs of essentials also going up very fast.
I detest this interviewer for his loud distracting grunts: Uh ... Unh ... unhh ... ha ha ha ... uh ... unh ... !!! Shut up!!! Let us listen to Swami ji, who was Professor of Economics in Harvard and IIT,Delhi talking about Economics - his field. This is a rare treat to listen to a world-class eonomist. Interviewer, keep your mouth shut when Swami ji talks.
Nicest
👍 i wish swamy was my professor
Can't thank you enough for the invaluable insight. Dil maange more.
Can you suggest some basic texts for economics. I am a student of science.
Introductory Macro economics. Class 12. Simple text. Explains all the main points.
I am proud of telling that among politicians Dr.Subramaniam has to a certain extent insight, vision etc. In the case of Dr.Subramaniam Swami he is also becoming an opportunist by way of jumping from one side to another side like other politicians who do not know how to serve the people in an excellent manner. These politicians are a cheat to public who have elected. Why I am telling is how these politicians have become so hefty rich whereas common people are suffering economically how to run the days. Of course there are some exemption in this group.
They are late Narasimha Rao, Kamaraj, Nambbodiripad, Y.B.Chavan, Gulsarilal Nanda and from the exisisting people it can be said that Mr.Modi Mrs.Nirmala Seetharaman,
Mr.Yogi, our present infrastructure minister.
As regards I am concerned, India is not the fit country to have political democracy but of course India should have Presidential Democracy to uplift the common people.
After getting freedom, happiest people are politicians, entrepeneus, cinema industry, doctors, lawyers. As regards religion is concerned, I am sorry I cannot fully agree with Dr.Swami. There is no religion as such Hindu, Mohamedian, Cristian etc.
I do not agree with caste sistem. Only two castes are there and they are economically progressive caste and no progress of people who are very weak economically. There are two Gods. One is masculine and the other is feminine. They are for all over the world. I mean to say oxigen, water, sun, earth. These Gods can be called whatever way a person likes. Politicians have no ethic and they are making people to fight on religion to achieve their great motto of becoming hefty rich. See how parliament is run. Is it the way of running Parliament session? Lok Sabha Speaker and Raj Sabha speaker should punish problem creators by sending them to Jail. Once it is done, repetition will not be their.
I am not clear with the irish point he makes: The price of potato shot up and consumption of potato shot up?! When the consumption (demand) goes up, obviously the price goes up too right? Why was it difficult to represent this graphically?
I wonder why this gentleman is not made FM of the country despite of so much of knowledge
A classic case of a talent not capitalized for a national benefit!
Thank you for your kind words, *Srinivasan Kannan* - do *share/ subscribe/ like* and click on the *bell icon* for notifications.
ayer, swamy, rajan and chidambaram all are tamils lol
nehrus and gandhis get Bharat ratna but bose bagath singh and swamy are above that
wiz turner bhagat Singh was not an intellectual ...Bose was awarded bahrat Ratna but his family denied .....Gandhi jee never got Bharat Ratna or any award congress just uses his name
@@wizturner3563 nehru was given bharatratna by nehru himself
Economic is a very good subject . In the human civilization economic has a great role.This is only one subject where you can't explain any effect of economics just like a scientific formula. where science can say 2 molecule of hydrogen react with 1 molecule of oxygen peoduce 2 molecule of water .this is a universal truth you cannot change it, can't deny it. But in economics every formula is correct and for supporting of that formula enough exemple are present in world human society. So as per rule of economic no body can able to claim that this formula is the ultimate and there will be no other formula can be derived. This is the majic in economics.
And this relates to the above conversation how?
In most of the interviews, the voice loudness of the interviewer is far higher than the interviewee .. Please equalize ... it is annoying ..
Haresh Patel i agree......mr. iyer's 'hhhhmmmm' was damn annoying
Was about to comment the same. It's almost twice as loud and most of it are just laughs & agreements!
Swampy was supposed to be finance minister instead of jaitley
HE clearly saying that his following in India due too religious reasons..& that's so true lol 😂 he is Truth speaking genius..rare breed.
Swamy Sir: India is missing because you’re not finance minister.
I don't know, what respected modiji is up to when matters of economics are concerned. Pyase ko kue ki zarurat hoti hae aur Dr. Swami is a ocean of sweet water.
Krishna keval Marg dikha sakte hae. Arjun ko nishchay Karna hae us Marg par chale ya nahi.
Sir, Could not follow completely. You mentioned Rajan came with an agenda. What was Rajan's agenda according to you? Can you throw more light? Will help understand reasons behind some of his decisions.
You have to read between the lines...
PGurus thanks for the input but may be I am missing something. Is he talking about Congress influence on Rajan? Or is he talking about US interests being served through Rajan being non Indian citizen?
Sri Iyer sir, sorry to say this but your voice is really very loud and continuous "hmm" is a little irritating.
+1
Unfortunately, Dr.Swamy's voice is not clearly audible. Subtitles would have helped.
As for RBI, R3 , R5 or Rx won't matter. The finance ministry only wants a dummy. It is the finance ministry babus who run the show. RBI is just their running dog or errand boy or whipping boy. Sir Benegal Rama Rau was the last truly independent Governor. That was sixty years ago! Even then, he fought T.T.Krishnamachari and Nehru and quit, rather than agree to their unsound proposals. History has proved Rama Rau right.
RBI's role is mainly reaction: they have to react against the adverse effects of global forces or our own domestic fiscal and other policies to keep the system steady.. They have very little choice in what they can do, as it is dictated by global factors or reigning economic wisdom, both subject to political compulsions. In such circumstances, RBI can become the butt of criticism, wholly undeserved. But few do understand this.
Curiously, Modi does not take Dr.Swamy in the ministry, for the same reason that they do not want a strong person as RBI Governor. They cannot stand independence . They just want page boys. It is really sickening. The Modi-Jaitley team is floundering. If the BJP does not win in 2019, it will be mainly due to their economic policies which neither Modi nor Jaitley can even explain properly.
Mr.Swamy is one of the great intellectuals of our country. It is a shame that he is not being respected by that joker Modi. Today, I will say that the reason I completely supported Hindutva and BJP for 2014 is Mr.Swamy and not Modi or Jaitley or any of the other jokers who don't even have a brain.
Macroeconomics has 3 different money balances. Most economists are agreed on the equations presented below. But not the explanation of what it means. They lie for plutocracy. Also politicians because it is politics. Lincoln said it is not possible to fool all people all the time. He was wrong.
“Cut the deficit “ has become the new religion and everybody believes in it.
Classical economics is either the gold standard or the economics of states with the equation
1. federal grant+ Tax income + borrowed money + bonds sold +net exports
= state expenses + debt service + bond dividends paid,
whereas the federal equation in fiat money is
2. fiscal deficit - trade deficit = private savings - private investments = net private savings.
The sources of money are different. In case 1., it is tax and in the other case of fiat money, 2. , the fiscal deficit. This is what causes so much confusion. Most people are not told the difference. In the case of the gold standard, there is only the first type for both, the gold representing the bank from which govt borrows and govt collects taxes to pay the bank. And the same terminology is still used.
In fiat money, the meanings are reversed. In fiat money, money is created at zero cost by the govt. (Even during the gold standard, the federal equation is valid, the equation being an identity of created money.) Fiscal deficit is zero cost created money.
The first type is also the balance for personal, business and money- using states with some terms removed. It is the householder type
3.,income + borrowed money= taxes paid to govt. +debt service + savings
All these balances are exact and DIFFERENT.
Eqn 2, works best with no profit motive. Created money is zero cost and the purpose is best served on commons, an antidote to plutocracy. This includes infrastructure, free education with student stipends, free playgrounds and parks, govt funded municipalities etc to improve the commonwealth and improve life at the low end and lesson inequality. It can also eliminate FICA, an unnecessary pretend- deposit to something that looks like insurance, an entirely unneeded deposit for a money-creating government as in the 70s, go back to a GINI coefficient of 30%. This together with high income taxes at the top end (~top 5%) will prevent plutocracy to do mischief by bribery.
Businesses need not be taxed. Only personal high income beyond reason.
States and Businesses follow1 or 3. Income is profit for businesses and for States it includes State tax, if any. In the interest of simplification, all taxes can be eliminated if the federal govt increases grants to states and adds other subsidies as needed. Tax deductions at the high end are also removed. Most people and all businesses will pay zero tax. If the govt sets up federal and State Banks, interest rates will be reduced States get more income which they spend for State functions. Right now, there are no State Banks except North Dakota in USA. Luckily there are many in India.
The only source of growth is = fiscal deficit = printed zero-cost money which can be increased till there is no unemployment which is the case in India, full employment being very far away! Inflation arises only after full employment which sets the limit for fiscal deficit.
It would be good to clearly state that the source of prosperity is the FISCAL DEFICIT and rename it BHAGYALAKSHMI and print on currency notes an image of LAKSHMI!
Why Sri Iyer is sounding Unn.Unn.Unn in the middle of conversation? isn't it annoying?
Swamy is a first rate economist. Some of his eccentricities & politically incorrect approach makes BJP not use him to fullest.
Is this the right way to judge economic activities:
Someone buys mobile. Mobile seller buys car. Car seller buys Home. Home seller buys farm and becomes farmer. Farmer creates food. Food increases population that again buys more mobiles...
Money is moving in circles here (probably since 1990s or since the end of World War 2).
Earlier (before WW2) the money through such activities in the end was used in manufacturing weapons to capture land of other people, (colonialism) which eventually led to WW2. This WW2 was nothing but economic activity of manufacturing weapons and destroying them in wars in the end. Germany and Japan also paid for all the bombs US dropped on them via debt for 50 years or more.
Now wars have become extinct, so we just move money in circles - is this the right way to judge economic activities?
Dr.Swamy were you the India's first Econometrician?
Dr. Swamy, if the interest rate reduces the value of Indian rupee will also reduce.
How? Rupee's value is tied to the Export-Import ratio - the more you export (compared to your imports) the higher the value of the rupee.
My bad. I heard Mr. Gurumurthy in his interview with Bhupen Chaubey saying that the rise or fall in interest rates affects the value of Indian currency. I didn't care to find out why.
He is talking about the interest parity concept
Half empty vessels make more noise.
why does Sonia hate swamy?
Bcoz he revealed her personal life details...
REQUEST : Please stop doing the ummm
Yhhhh
I hate BJP, and their brand of hindutva. But I absolutely adore Dr Swamy and his brand of Hindutva (which is also my brand of it), I wish that con-man fraud Arun Jaitley was replaced by Dr Swamy or even Modi himself by Dr Swamy.
Mmmmm mmmmmm
Hindus bad luck they don't get benefits from a knowledgeable master economist !! Why host voice louder & more audible than guest Swamy ji?
Just Imagine Petrol at 8- what would swamy say now sure fire defeat for BJP This country needs incentives and modi i doing opposite what nonsense ... I am a Bhakt and want him to win .. but he wants to loose and Jaitly is doing it for him
Iyer sir, why are you laughing so much? He isn't telling you grandpa jokes.
Maybe you want to watch the video again and read between the lines...
why do indians bring politics into everything ? Stopping watching in 45 sec!!!!
Mr Swami is not humble