Economics Explained

Could space travel ever be economically viable?

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Nouriel Roubini is an economist and professor at NYU's Stern School of Business, known for his expertise in macroeconomics and international finance. He predicted the 2008 financial crisis and has served as an economic adviser to the IMF, World Bank, and various governments. He is a frequent commentator in the media, has written several books and articles, and is the co-founder and chairman of Roubini Global Economics.

In his book "MegaThreats" he identifies ten major global risks, including pandemics, climate change, and economic inequality, that require global cooperation to address. Roubini offers solutions such as investing in healthcare, education, and sustainable energy, and creating new systems for global governance. The book serves as a warning and a call to action to build a more resilient and equitable world.

Dr. Roubini's full book

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Is there such a thing as "good debt"? And how could something good cause so many issues? On top of this is there any way that we could just run an economy without debt and would we be better off for doing so. Well, it turns out we probably can, and in fact, there are many economies around the world today that are developing rapidly while going without this system that we just assume is a given. If we can critically explore these questions it will offer insight into how our modern financial system works, and why it means that despite our best efforts we are almost destined to go into a recession once every 10 years or so.

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The internet is widely hailed as one of the most economically impact inventions of the modern era. But there is one much more mundane invention that at least one economist believes was even more important - the washing machine.

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Economic growth is something that is important to every global citizen today. But it's not something to necessarily take for granted – we are certainly not "owed" long-term growth. We must earn it. And above all, we must continue innovating to become more efficient. Simultaneously, society must collectively address the major issues that we're inevitably set to face within this century if we wish to ensure that future generations live better than their predecessors.

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What will the potential economic outcomes of leadership change be why is it that a dictatorship inherently makes for a poor economy? What the potential outcomes will be for North Korea will be in the future. How countries have dealt with this type of situation in the past. And perhaps initially what is it that would stand in the way of a country like North Korea embracing a modern economic system, what keeps them poor.

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Hong Kong has done very well for itself as a global middleman. And the meteoric rise of its neighboring economy, China, has only strengthened the city’s already-prosperous position.  But, of course, if you follow the news, you probably already know that Hong Kong has seen better days. Global trade tensions, prolonged protests, and good old-fashioned competition have dramatically impacted its economy in recent years.

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France is a global trendsetter for other economies. This goes from the rollout of the metric system to more tangible short term indicators. If you want to predict the future, look to France. This is not to say that the country is any further ahead than any other developed nation. In fact, in many ways, it is quite the opposite, but the industries they choose to engage in making them a great indicator for global economic performance.

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Taxes are an unfortunate reality for most people living and working in the modern world, we pay them every year, we complain about them, and then we forget them until next year.  Taxes are one of the most important elements of any economy around the world. Entire societies can grow from effective taxation and crumble without it.

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In 2017, at Christie’s Auction House in New York, a mysterious #Art buyer bid a record-breaking $450 million dollars for the #SalvatorMundi; a painting by the legendary Leonardo da Vinci. News of the staggering purchase price sent shockwaves throughout the entire art market (which, interestingly, has been a reliable indicator of impending market bubbles for decades).  What drives the high-end #ArtMarket? How can art be used to move money in creative ways and get around taxes? And perhaps above all, why would anyone park so much money in a picture when there are other asset classes that actually generate cash, like real estate rentals or dividend-paying stocks? … all this and more in today’s episode!

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