Dambisa Moyo: Economic growth has stalled. Let's fix it
Dambisa Moyo - Global economist
Dambisa Moyo is an international economist who analyzes the macroeconomy and global affairs. Full bio
and sustain economic growth
solve the economic growth challenge,
that I've just elucidated.
long-term economic growth,
that continue to pervade the globe today,
education or economic development.
like the United States and across Europe
after the financial crisis?
key drivers of economic growth:
continue to see debts and deficits,
of both the quality and quantity of labor
economic growth in the emerging markets,
of the world's population lives
is under the age of 25?
at a minimum of seven percent a year
in one generation.
50 million people --
that seven percent magic mark.
South Africa, Brazil and even China
that seven percent number
enter into a virtuous cycle
and improved living standards.
countries contract and atrophy,
of economic statistics
and how lives are lived.
powerfully for the individual.
and social instability rises,
coarser and smaller.
rates as developed countries.
find this to be a risky proposition.
and be quite disillusioned
to economic growth.
overpopulation of the planet.
recent statistics and projections
11 billion people on the planet
to natural resources --
energy and minerals.
the degradation of the environment.
that economic growth
of changes in living standards
that has been driven by capitalism.
very simply put,
capital and labor,
of the private sector and not the state.
that we understand
is not for economic growth per se
economic growth over the long term,
with a better form of economic stance.
has been defined by private actors.
is a very simplistic dichotomy.
more state capitalism,
like the Unites States
the capitalist system, however,
on countries like China
not blatantly market capitalism.
a real reason and real concern
on purer forms of capitalism,
by the United States.
been afforded the critique
at the expense of the many.
that we need to address
can help to address social ills.
we have to ask ourselves,
of an individual utility maximizer --
who goes after what he or she wants.
maximized their utility
to other social contracts.
governments do tax,
to fund social programs,
is not just regulation
improve the capitalist model.
two sides to this challenge.
we can improve capitalism.
like conditional transfers,
for doing the things
can help enhance economic growth.
inoculated or immunized,
we should be paying people
is that pay for performance
on left-leaning policies.
expand its role and responsibility
much more of an arbiter
with the success of China.
from just being a profit motive
in the delivery of social programs.
social responsibility programs,
have also tended to blur the lines
NGOs and private sector.
are the 19th-century United States,
has also proven to the world
for the betterment of society.
the world economic growth challenges
and being unnecessarily ideological.
long-term economic growth
that continue to plague the world today,
that ideology is the enemy of growth.
a couple of questions, Dambisa,
to your last sentence
ideology of our times.
to those who react that way?
having that discussion.
going on around happiness
for measuring people's success
in people's living standards
poverty around the world.
for rehabilitating growth,
the capacity of the earth,
from the underlying use of resources.
about human ability and ingenuity.
and depleting resources
about the way the world is.
running out of resources,
that those things are not valid.
we could see desalination,
get better outcomes.
about what humans can do.
for rehabilitating growth
to fix capitalism with more capitalism --
on good behavior as incentive
for business in social issues.
we have to be open-minded.
we would like them to.
economy in the world, the United States,
as it's core political stance
as its economic stance.
which is a completely different model.
completely different political models
income inequality number
we should have,
much more discourse
about what we know and what we don't know.
The COP21 is going on in Paris.
and heads of delegations there,
about being open-minded.
the environmental concerns
'72 in Stockholm --
a fundamental agreement,
countries believe and want
to continue to create economic growth
uncertainty in the those countries.
their CO2 emissions
that they're contributing to the world,
to the table as well.
to the emerging markets
at what they're doing
in developed markets.
DM: Thank you very much.
About the speaker:Dambisa Moyo - Global economist
Dambisa Moyo is an international economist who analyzes the macroeconomy and global affairs.
Why you should listen
Dambisa Moyo's work examines the interplay between rapidly developing countries, international business, and the global economy -- while highlighting opportunities for investment. She has travelled to more than 60 countries over the past decade, studying the political, economic and financial workings of emerging economies, in particular the BRICs and the frontier economies in Asia, South America, Africa and the Middle East. Her latest book, Winner Take All: China’s Race for Resources and What It Means for the World, looks at how commodities markets influence much more than the global economy -- and examines the possible consequences of China's unprecedented rush for commodities such as oil, minerals, water, and food, including the looming specter of commodity-driven conflict.
She is the author of the brilliantly argued Dead Aid: Why Aid Is Not Working and How There Is a Better Way for Africa and How the West Was Lost: Fifty Years of Economic Folly and the Stark Choices Ahead. Previously, she was an economist at Goldman Sachs, where she worked for nearly a decade, and was a consultant to the World Bank in Washington.
Dambisa Moyo | Speaker | TED.com