The Prof G Pod with Scott Galloway Deglobalization, Public Policy, and Government Intervention — with Dambisa Moyo
Aug 19, 2021
Dambisa Moyo, a global economist and bestselling author, dives deep into deglobalization and its implications for public policy. She explores the rising role of government in the post-pandemic economy while balancing it against private sector growth. Moyo critiques short-term economic policies and discusses the challenges of corporate governance in navigating ethics and innovation. With insights on the evolving powers of China and the U.S., she emphasizes resilience in institutions and the importance of inclusive policymaking.
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Five Defining Features of the Post-Pandemic Economy
- Post-pandemic economies will feature bigger governments, larger debts and deficits, and increased government intervention in capital and labor.
- The private sector will likely shrink, with more taxation, regulation, and a trend toward deglobalization.
The Role of Government in Economic Growth
- Increased government involvement can be positive if focused on driving innovation and progress.
- Examples include the Manhattan Project, DARPA, and investments in high schools and infrastructure.
Socialism and Economic Growth
- Socialism, with government involvement in capital and labor, isn't inherently bad if it grows the economic pie.
- Redistribution without growth is undesirable; aid programs can create harmful dependencies.
