In this Smart Talk video series, Andrew Mazzone and Dr. Jayati Ghosh discuss topics on socialist movements, Greece debt and transformations around the world.
Socialism is an economic concept that supports the public ownership of all resources. Goods are produced and distributed based on need rather than on market which includes factors like profitability, price and consumer demand and purchasing powers. In a socialist economy, workers contribute to the society based on their abilities rather than being paid wages and using that money to purchase what they want or need.
Andrew Mazzone and Dr. Batra also talk about the current situation that is happening in Greece right now. Andrew Mazzone suggest that Greece should default on their debt to IMF and loans. Instead, borrow currency from the Chinese and use that as their internal currency for trading as well as exchanging Euros to Yuan since the Chinese will be happy to finance this.
Dr. Jayati Ghosh is a Professor of Economics and Chairperson at the Centre for Economic Studies and Planning School of Social Sciences, at Jawaharlal Nehru University in New Delhi, India. She received her Ph.M in Economics from the University of Cambridge in 1979, and her Ph.D from the University of Cambridge in 1983.
Dr. Jayati Ghosh has worked with leaders from all over the world. She worked for the government of India as a consultant of Commision Planning from 1985 to 1986. She was the Chairperson of the Commission of Farmers’ Welfare for the South Indian government of Andhra Pradesh in 2004. She was also a member of the National Knowledge Commission, a high-level advisory body to the prime minister of India, from 2005 to 2009. She was an Adrian Research Fellow at Darwin College Cambridge in England from 1984 to 1995. She also taught at Tufts University, USA, in 1995 and at the University of Tallinn, Estonia in 2010.