Facing Up to War, Military Industrial Complex, Food Security and Central Banks Jomo Kwame Sandaram
Professor KS Jomo is one of Asia's most prominent economists of our time, having spent much of his career examining the challenges besetting the growth and development of emerging market economies in Asia and Africa. This, in the context of the policies practised and fomented by some of the world's richest nations in Europe and North America. Hailing from Penang, Malaysia, his journey took him from Penang Free School in northern Malaysia to Yale and Harvard Universities, amongst many august institutions including the United Nations, where he also lectured, wrote and spoke on subjects as diverse as the political economy,…
Inflation Phobia, Myths and Dogma exacerbate Policy Responses Anis Chowdhury and Jomo Kwame Sundaram
Introduction The world is once again in the grip of inflation, with Kenneth Rogoff (2022) terming this ‘The Age of Inflation.’ Pundits, such as Rogoff, and leading central banks – for example, the US Federal Reserve (Fed), the Bank of England (BoE) and the European Central Bank (ECB) – and international financial institutions – for example, the International Monetary Fund (IMF), the World Bank and the Bank for International Settlements (BIS) – are all loudly warning about the dire consequences of inflation. Inflation hawks, like Frederic Mishkin (2022), believe central bank independence must be jealously protected to slay it. Larry Summers has urged…
Entrevista a Jomo Kwame Sundaram
May 2021 Derechos en Acción 6 (18), Verano 2020-2021: 898-904. DOI: 10.24215/25251678e506 License CC BY-NC-ND 4.0 Jomo Kwame Sundaram es asesor principal del Instituto de Investigación Khazanah, miembro de la Academia de Ciencias de Malasia, profesor emérito de la Universidad de Malaya y miembro visitante de la Iniciativa para el Diálogo Político de la Universidad de Columbia. Fue fundador y presidente de International Development Economics Associates (IDEAs), Subsecretario General de Desarrollo Económico de la ONU (2005-2012) y Subdirector General de la Organización de las Naciones Unidas para la Agricultura y la Alimentación (FAO) (2012-2015). Recibió el Premio Wassily Leontief 2007 por el…
Contextualizing Rents – An Interview with Jomo Kwame Sundaram by Julien Vercueil and Adrien Faudot
1. Personal Intellectual and Professional Trajectory RR. Let’s start with your training as an economist. You have studied in prestigious US universities (Yale, Harvard), before returning to Malaysia. What lessons did you learn from this unique experience as a foreign student in economics in the US? JKS. In 1967, when I was 14, sterling was devalued. Suddenly, the little money I had was worth even less. Considered good in mathematics at school, and hearing of economics’ turn towards mathematics, I decided to study economics. I did well, but got into trouble for taking exams without official permission as I was not in…
Lecture on “Role of US Policies in Driving the World towards War and Depression” Jomo Kwame Sundaram | February 25 , 2023.
In this thought-provoking lecture, Jomo KS argues that the policies pursued by the United States are driving the world towards war and depression. Neoliberal economic policies have dismantled social welfare programs, privatized public services, and deregulated financial markets, leading to inequality and economic instability around the world. The US is increasingly using military force to maintain its dominance, leading to increased tensions and global conflict. Jomo KS draws on a wide range of historical and contemporary examples such as Chile, South Africa and Greece to illustrate the devastating effects of US policies on a global scale. He examines the role…
Will there be another Debt Crisis? Current economic challenges facing the Global South An interview with Jomo Kwame Sundaram
What are the economic challenges facing the Global South post-pandemic? What role have global financial institutions like the World Bank and the IMF played in worsening the economic situation for poorer countries? And what economic alternatives might exist? In this interview, Jomo Kwame Sundaram shines a light on the effects that decades of liberalisation policy have had on countries in the global South, including deindustrialisation, food insecurity, and another looming debt crisis. He argues that the recent refusal to waive international property rights related to vaccines as well as sanctions on China have worsened the situation, with the odds increasingly…
Rising U.S. interest rates push countries in Global South toward Economic Collapse Jomo Kwame Sundaram
Soaring inflation and devalued currencies have created a catastrophic debt crisis for much of the world, including in countries like Lebanon, Iraq, Egypt, Sri Lanka and Pakistan. Malaysian economist Jomo Kwame Sundaram says the instability is largely driven by interest rate hikes by the U.S. Federal Reserve, which have the effect of increasing borrowing costs for poorer countries and devaluing their currencies compared to the U.S. dollar. The intensifying U.S. economic war on China is also hurting many countries of the Global South that are linked to Chinese industry, he says.
Lecture on Food Systems Worsening Malnutrition Crises Jomo Kwame Sundaram | February 15, 2023.
In this lecture, Jomo KS discusses how the current food systems are contributing to worsening malnutrition crises. He argues that the neoliberal policies of the past few decades have prioritized corporate interests and profit over public health and food security. This has led to a concentration of power in the hands of a few large corporations and a reduction in the diversity of crops and foods available to consumers. Jomo KS also explores the various factors contributing to malnutrition, including poverty, conflict, and climate change, and emphasizes the need for a holistic approach that addresses the root causes of…
US Policies slowing World Economy Jomo Kwame Sundaram
Few policymakers ever claim credit for causing stagnation and recessions. Yet, they do so all the time, justifying their actions by some supposedly higher purpose. Now, that higher purpose is checking inflation as if it is the worst option for people today. Many supposed economists make up tall tales that inflation causes economic contraction which ordinary mortals do not know or understand. Inflating inflation’s significance Since early 2022, like many others in the world, Americans have been preoccupied with inflation. But official US data show inflation has been slowing since mid-2022. Recent trends since mid-2022 are clear. Inflation is no…
Las Venas Abiertas De África Sangran De Mas Ndongo Samba Sylla and Jomo Kwame Sandaram
El continuo saqueo de los recursos naturales de África, drenado por la fuga de capitales, está frenando su crecimiento. Cada vez más países africanos se enfrentan a recesiones prolongadas que se unen a un creciente endeudamiento, echando sal en las profundas heridas del pasado. Con muchas menos divisas, ingresos fiscales y espacio político para hacer frente a los choques externos, muchos gobiernos africanos creen que no tienen más remedio que gastar menos o pedir más créditos internacionales en divisas. La mayoría de los africanos se esfuerzan por hacer frente a las crisis alimentarias y energéticas, la inflación, el aumento de los tipos de interés, los…