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 financialexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialexpress.com Daily Mail and Mail on Sunday newspapers.
The five-day convention to be held from January 16-20 will see Shereen Bhan, managing editor, CNBC-TV18 in conversation with the top Indian and global business leaders.
The global economy is under pressure — but how bad is it? Two experts share insights hellenicshippingnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hellenicshippingnews.com Daily Mail and Mail on Sunday newspapers.