I do agree with Dr Dambisa Moyo I mean we must to put every situation in its context. Very good example on how the American democracy was build. We all know the game playing by the western countries when it comes to economic growth in African countries. People need jobs and food on their table to feed their family.
Singapore has a higher GDP per capita than most countries in the world. Professor Easterly says that eventually non-democratic countries slow down - when you're as rich as Singapore does it matter if you slow down? And their performance proves that growth can be a long-term sustainable story.
You have to look at the debt in relation to GDP. Japan's gross public debt is over 200% of GDP, China's is about 25%. If you consider the net public debt the difference is probably higher.
Would you want to be an average person in a poor but democratic state or an average person in a rich but autocratic state (with China level of authority), all other things being equal? If you tick option 2, doesn't this imply you value economic living standard above democracy? Now imagine if that democratic country was as rich as the other country. If you now prefer the 1st country, doesn't this imply that improving living standards come 1st before democracy? Which is what Moyo was saying.
Dambisa Moyo "Economic growth is prerequisite for democracy."...The Marshall plan (1947_51)"the key to restoration of political stability lay in the revisitation of european economies"..this is the fact that the western countries escape....they push developing nations in the wrong direction to justify "neo colonialism"
I think an important point on the Singapore exception is, that most of its growth came from financial services. As a tax dumping state it could attract much capital from the west (many of it tax fraud money), from the tiger states and also from corrupt officials from the global south. This stream of money has begun to die down, because of the rise of good governance in developing nations and the crackdown on tax evasion in the west.
China doesn't need [more] democracy; it needs more economic freedom, like Singapore. For all intents and purposes 'political freedom' means being free to reduce the economic freedom of others, to demand that wealth be confiscated from people and put towards certain causes. It is a contradiction in terms. Even in its _ideal form_ democracy amounts to the tyranny of the majority; in practice it is the tyranny of _concentrated interest groups_. It certainly isn't a mechanism for increasing prosperity... And Dambisa makes an excellent point at 28:00
Why do they categorise Singapore as "Totalitarian"? It's a democracy where everyone has the right to vote. They only have some quite tough laws to prevent crime but that's not totalitarian.
Easterly is downbeat about China because its authoritarian regime doesn't allow market and news feedback to redirect the economy. Moyo brings up Singapore as an authoritarian state that grew and Easterly answers as if he hadn't thought about it much. Earlier though, he explains China's recent boom as coming from the expansion of freedom after Mao's death. Possibly the explanation for Singapore is that freedom expanded as the economy grew. Another example is Pinochet in Chile who did the country a favor by putting himself up for election and losing, never the less the boom was on and with the conversion to democracy at the appropriate time, the prosperity continued!
Easterly idea about China is over-simplified. Indeed Chinese society get a breath of freedom after demise of cult of Mao in 1978, but the momentum of political freedom has drastically deaccelerated and even reversed after 1989. However, the most eye-catching Economy boom didn't overlap with period when Chinese people have the most extensive freedom. It would be a remarkable work if any scholar to reveal the secret of sustained economy development; Many of them try to compare between many economies; but it is possible that some of them he/she may not be savvy of. Therefore, the real incentives behind economy growth would be omitted. China for example, tax sharing reform in 1994 played more profound role in boosting investment than any other factors such as freedom. And investment, particularly from the government was the key drive of Chinese GDP growth.
You must be Crazy, You don't know who is really Meles or Ethiopia. This the biggest problem with most of you, social science scholars, you talk every thing that comes to your mouth simply. you don't even try to be reasonable or counter check the reality on the ground rather than simply talking like what you did. Think twice before speak once!
great achievement to receive some one like Dambisa Moyo as we are an African.
i proud of you
Too short of a debate. Sister Dambisa was BRILLIANT as always.
I do agree with Dr Dambisa Moyo I mean we must to put every situation in its context. Very good example on how the American democracy was build. We all know the game playing by the western countries when it comes to economic growth in African countries. People need jobs and food on their table to feed their family.
Her pragmatic approach says it all. Start after start!!
"90 % of the earths 7 billion population live in the emerging markets" Dambisa Moyo
Singapore has a higher GDP per capita than most countries in the world. Professor Easterly says that eventually non-democratic countries slow down - when you're as rich as Singapore does it matter if you slow down? And their performance proves that growth can be a long-term sustainable story.
This Gentleman is still living in the Cold War Era...
Great Debate. Just way too short. Should have been at least 90 minutes.
that black women is Dambisa Moyo one of the brilliant economists of all time.
She is my Hero.
I didnt know bricks are such hearty subject to economists!
You have to look at the debt in relation to GDP. Japan's gross public debt is over 200% of GDP, China's is about 25%. If you consider the net public debt the difference is probably higher.
The beast and the smart beauty, I love this woman, the guy is a fool
Prof Easterly is very prejudiced and a White Supremacist.
Are you crazy? Have you read his book White Man's Burden. Do you even know what a white supremacist is?
The guy is an old stock
Would you want to be an average person in a poor but democratic state or an average person in a rich but autocratic state (with China level of authority), all other things being equal? If you tick option 2, doesn't this imply you value economic living standard above democracy? Now imagine if that democratic country was as rich as the other country. If you now prefer the 1st country, doesn't this imply that improving living standards come 1st before democracy? Which is what Moyo was saying.
Dambisa Moyo "Economic growth is prerequisite for democracy."...The Marshall plan (1947_51)"the key to restoration of political stability lay in the revisitation of european economies"..this is the fact that the western countries escape....they push developing nations in the wrong direction to justify "neo colonialism"
I think an important point on the Singapore exception is, that most of its growth came from financial services. As a tax dumping state it could attract much capital from the west (many of it tax fraud money), from the tiger states and also from corrupt officials from the global south. This stream of money has begun to die down, because of the rise of good governance in developing nations and the crackdown on tax evasion in the west.
The truth will always be bitter to the ears of dummies.
China doesn't need [more] democracy; it needs more economic freedom, like Singapore. For all intents and purposes 'political freedom' means being free to reduce the economic freedom of others, to demand that wealth be confiscated from people and put towards certain causes. It is a contradiction in terms. Even in its _ideal form_ democracy amounts to the tyranny of the majority; in practice it is the tyranny of _concentrated interest groups_. It certainly isn't a mechanism for increasing prosperity... And Dambisa makes an excellent point at 28:00
she annihilated him with facts
Why do they categorise Singapore as "Totalitarian"? It's a democracy where everyone has the right to vote. They only have some quite tough laws to prevent crime but that's not totalitarian.
Easterly is downbeat about China because its authoritarian regime doesn't allow market and news feedback to redirect the economy. Moyo brings up Singapore as an authoritarian state that grew and Easterly answers as if he hadn't thought about it much. Earlier though, he explains China's recent boom as coming from the expansion of freedom after Mao's death. Possibly the explanation for Singapore is that freedom expanded as the economy grew. Another example is Pinochet in Chile who did the country a favor by putting himself up for election and losing, never the less the boom was on and with the conversion to democracy at the appropriate time, the prosperity continued!
I wish more people wll listen to this. But oh well.95% of the world is paralysed by ignorance. The other 5% is paralysed by fear.Help!!!
Easterly idea about China is over-simplified. Indeed Chinese society get a breath of freedom after demise of cult of Mao in 1978, but the momentum of political freedom has drastically deaccelerated and even reversed after 1989. However, the most eye-catching Economy boom didn't overlap with period when Chinese people have the most extensive freedom.
It would be a remarkable work if any scholar to reveal the secret of sustained economy development; Many of them try to compare between many economies; but it is possible that some of them he/she may not be savvy of. Therefore, the real incentives behind economy growth would be omitted. China for example, tax sharing reform in 1994 played more profound role in boosting investment than any other factors such as freedom. And investment, particularly from the government was the key drive of Chinese GDP growth.
the black woman? You must be blind! most educated people would say she is an African woman. She has a black dress.
This 'beard Easterly' has to eat his words now.
When are people going to get a young population is not positive? Young people are just as non-productive and dependent as old people.
The guy is a fraud, he is no expert. He is a fool
that guy was wrong. China still rocks )))
You must be Crazy, You don't know who is really Meles or Ethiopia. This the biggest problem with most of you, social science scholars, you talk every thing that comes to your mouth simply. you don't even try to be reasonable or counter check the reality on the ground rather than simply talking like what you did. Think twice before speak once!