The Deeper Causes of the Global Crisis - Ian Goldin

The transcript discusses the economic crisis, highlighting the failure of economists and institutions like the IMF and World Bank to foresee it. It critiques the complacency in economic theories and the impact of globalization and technology on financial systems. The speaker emphasizes the need to understand these failures to prevent future crises.

What was the main reason for the failure of economists and institutions to predict the economic crisis?

• Political interference

• Collective oversight

• Insufficient data

• Lack of education

Which institutions were mentioned as being dominated by the professions that failed to foresee the crisis?

• NATO

• United Nations

• World Health Organization

• IMF and World Bank

What belief contributed to the complacency regarding economic issues?

• Economic issues could be ignored

• Economic issues were too complex to understand

• Economic issues could be managed gradually

• Economic issues were not important

How has globalization changed the world in the last 20 years according to the speaker?

• It has reduced technological advancements

• It has simplified financial systems

• It has increased complexity and integration

• It has decreased integration

What was a major factor that led to a lack of understanding in financial institutions?

• Political changes

• Overstaffing

• Technological changes and integration

• Lack of regulations