
Raghuram Rajan: Climate Action and Continued Globalization Joined at the Hip (2022 Per Jacobsson Lecture)
IMF Podcasts
Climate Refugees - What's Next?
Climate refugees will move to the richest welcoming country until that rich welcoming country becomes overwhelmed by people coming there. You can't erect border walls to keep out climate refugees. The kind of horrible future they will have itself will create a moral compulsion to lower those walls. And so we should start preparing for it. When I talk about a global labor market, it is our future. It's not only that work is very differentiated for your children because your children grow up in these small towns which don't have adequate services. So globalization has also increased inequality by killing the small town manufacturing and enhancing the quality of big town services. But again, I want to say migration is the last result. Let's