Democracy is an illusion! It’s become a political system fostered by the élite, for the élite, in order to fool the people that they have a stake in the system. In actual fact, they have virtually none. The whole political system in the modern era, despite having noble beginnings, is now used to benefit the few at the expense of the many. – Mark Alexander, June 29, 2018
Sunday 31 May 2020
Raghuram Rajan, Economist – BBC HARDtalk
The Covid-19 pandemic has plunged the world economy into a deep recession. How long will it last and what kind of recovery can we expect? That in part depends on what governments do now. Should they be piling up future debt to cope with today’s crisis? HARDtalk’s Stephen Sackur speaks to the former Governor of India’s Reserve Bank and IMF Chief Economist Raghuram Rajan. Do the old rules of fiscal discipline no longer apply?
