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BONUS EPISODE: 'Permacrisis' with El-Erian, Brown and Spence
Sep 25, 2023
Global economist Mohamad El-Erian, former UK Prime Minister Gordon Brown, and renowned scholar Michael Spence discuss their new book 'Permacrisis'. They explore the decline of global cooperation, the importance of hope in politics and building trust, lessons from the Federal Reserve's mistakes, the challenges of the climate transition, and the significance of long-term goals for democracies.
26:59
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Quick takeaways
- Effective global cooperation is essential to tackle interconnected crises like pandemics, climate change, recession, and political unrest.
- A reinvention of globalization is needed, considering strategic competition, national security, and inclusive growth to address the Perma Crisis.
Deep dives
The Perma Crisis: A Cascade of Crises
The podcast episode explores the concept of the Perma Crisis, which refers to a series of interconnected crises including pandemics, climate change, recession, and political unrest. The authors emphasize the need for global cooperation to address these global problems effectively, as no single country or group of countries can solve them individually. They advocate for a new theory of growth that considers environmental needs, equity, and good jobs, as well as a new theory of economic management that balances fiscal and monetary considerations. Additionally, they highlight the importance of a new theory of international cooperation to address challenges like climate change and infectious diseases.
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