Crash Course Economics
Debt, Dependence and Development in Historical Perspective with Andew Fischer
October 19, 2020
Sara Murawski en Rodrigo Fernandez speak with Andew Fischer about Debt, Dependence and Development in Historical Perspective.
This lecture presents several past and present cases to demonstrate this dynamic and its continuing importance for facing the challenges of contemporary economic development, including the imperative of global redistribution.
About Crash Course Economics
Crash Course is a platform designed to open up debate on how we can move out of the current crisis and make the necessary steps towards achieving social, economic, ecological and regenerative justice.
Crash Course is inviting global experts to break down complex issues in lay terms and make them accessible to all so that we can understand how to shape our economic system for a just recovery and future.
Rodrigo introduces the new “Debt crisis in the global south, and radical solutions”
Sara introduces Andrew Fischer
Andrew Fischer starts his presentation: Understanding the past
External constraints of Late Development
Generate trade deficits because of import intensity and dependence
Structural: Technological and input characteristics of production and consumption
Foreign exchange (forex) becomes a specific constraint
Symbiosis with aid (or forex) absorption
Two strategies countries can apply to escape the external constraint
Republic Of Korea, Brazil, China
Neoliberal Era: Liberalization and Fictionalization
Q&A: Good debt vs bad debt?
Q&A: Distorting economies as aim
Q&A: How to prevent FDI taking the lead again?
Q&A: World Bank and IMF, & Structural Adjustment programs
Q&A: External factors or domestic decisions?
Q&A: Industrialization and the Philippines
Q&A: Industrialization by specialization in primary commodities?
Q&A: QE Seventies on Steroid