The Debt Crisis: Is Democracy The Problem?

Complete video at: http://fora.tv/2011/02/17/Dambisa_Moyo_How_the_West_Was_Lost

As voters continue to demand short-term solutions to the long-term problem of government debt (and as politicians continue to oblige them), international economist Dambisa Moyo ponders the question: is democracy itself part of the problem?

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Dambisa Moyo daringly claims that the West can no longer afford to simply regard global up-and-comers as menacing gatecrashers. In a world where Western economies hover on the brink of recession while emerging economies post double-digit growth rates, Moyo calls out the economic myopia of the West and the radical solutions that it needs to adopt to salvage its global economic power.

A former consultant for the World Bank and former emerging markets investment banker at Goldman Sachs, Moyo was named by Time Magazine as one of the "100 Most Influential People in the World," and was nominated to the World Economic Forum's Young Global Leaders Forum. - The Commonwealth Club of California

Dambisa Moyo is an international economist who comments on the macroeconomy and global affairs.

She is the author of the New York Times Bestseller Dead Aid: Why Aid is Not Working and How there is a Better Way for Africa. Her latest book is entitled How the West Was Lost: Fifty Years of Economic Folly and the Stark Choices Ahead.

She completed a PhD in Economics at Oxford University and holds a Masters degree from Harvard University. She completed an undergraduate degree in Chemistry and an MBA in Finance at the American University in Washington D.C.

Category:

News & Politics

Tags:

• representative
• democracy
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• economics
• economy
• debt
• deficit
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• taxes
• taxation
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• moyo

[coltec111]

Democracy is just a tribal system, nomatter how dress it up,with what kind of politic rouge,sing it with what politic opera

[euheide]

the longer the terms the most corruption there is.

[cesar333]

Government has to be the middle man between the consumer and big business. It cant be too big to hinder growth and it cant be too small so that the criminals in business come out and hurt the consumer. From 2000 to 2010 there were deregulations in government then out came the banks with student loans, credit default swaps, the housing market, Enron. Its sad but this is the reality that we live in.

[niriop]

As soon as the common population is pissed off with the way things are, the capitalist shall save face and run away screaming that the people are too stupid to know their own affairs, and flip-flop on democracy, declaring that only bureaucrats and businessmen have the solution. If you believe this obvious Orwellian propaganda, then you're part of the problem.

[JAROSLAVAGINA]

@kennegun "If you were to study history (the real history, not the watered down, distorted, contorted version that is taught in the state run educational system to make you into a good soildier as you seem to be)"

Thanks for proving my point for me. good day.

[xOutlaw6x]

@Visfen

I have no idea what your calling stupid or what your viewpoint is.

My position is it doesn't matter who can "best" use the or what a majority of people think it should be used for, it "should" be used for whatever purpose the person who owns it wants.

[kennegun]

@JAROSLAVAGINA Your getting close. Except those individuals don't necessarily have to be empowered by the state. If you were to study history (the real history, not the watered down, distorted, contorted version that is taught in the state run educational system to make you into a good soildier as you seem to be), you'd have a clue as to what I'm talking about. Knowing bits and pieces about political and economic ideology is leaving you myopic. TC

[endauthority]

@JAROSLAVAGINA not really, its quite fitting given the history of capitalism

[JAROSLAVAGINA]

@endauthority cute, but its wrong.

[JAROSLAVAGINA]

@endauthority free choice is not tyranny. owning property is not tyranny. it's easy to call someone else an idiot. its even easier to be the idiot.