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US military budget: The world gained from a peace dividend after USSR s decline— that calm is shrinking now : Kenneth Rogoff

Kenneth Rogoff, former chief economist of the IMF and Maurits C. Boas Chair of International Economics at Harvard University, discusses the record rise in military expenditure worldwide. He argues that military spending is not good for growth or consumption because it is destructive. The US and Europe are facing pressures today due to Ukraine, the Middle East, and potentially Taiwan, but the defense budgets of the West are tuned to a different era. The US has not prepared its people for greater military expenditure, and voters are talking about universal income, increased transfers, more social spending, etc., but realistically, defense spending will need to increase.

Federal Reserve Chairman Powell to speak at IMF conference today

Federal Reserve Chairman Powell to speak at IMF conference today
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Davos 2023: Get the CNBC-TV18 edge with its LIVE Coverage

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