Comments by "bj0rn" (@TheLivirus) on "How to rebuild the global economy | Kristalina Georgieva" video.

  1. It gives me hope that Kristalina mentions that inequality tends to increase with every economic crisis and that this is a problem. The reason this happens is essentially that assets tend to become very cheap during crisis, so the wealthy can go on shopping spree. Consequently, after every crisis, more of the economy ends up being owned by a smaller number of people. This effect is aggravated severely by bailouts of financial institutions. It would be nice to see Kristalina find as much "strength in action" when it comes to this problem as she finds in regard to Covid-19. Edit: I'd like to add that simple redistribution in terms of social services or financial support to the poor is not enough to solve this problem, because the economy will still belong to an ever shrinking group of people.
    16
  2. I have to say I'm very skeptical of IMF after how Greece was treated during its government debt crisis. IMF ignored warnings that austerity measures were too harsh and were likely to result in Greece being more indebted in the future rather than less, instead trusting their flawed macroeconomic models. Over the years, their policy has slowly shifted from austerity to stimulus, but IMF never formally admitted its error and the suffering it caused Greece. Rather, they seem to believe the failure of their policy mostly relates to Geek government's failure to do as they're told. https://www.imf.org/en/News/Articles/2019/10/01/sp093019-The-IMF-and-the-Greek-Crisis-Myths-and-Realities
    2
  3. Chris Anderson
    2
  4. 29:38 "Stop questioning IMF policy and do as you're told!"
    2
  5. IMF has no real stake in the world economy but rather thrives in moments of crisis. This seems like rather perverse incentives.
    1