The Economics of Democracy

“Is China the new idol for emerging economies?” Is the insightful question Dambisa Moyo asks in her interesting speech.

A blockbuster bestselling new book “Capital in the Twenty-First Century” by Thomas Piketty has been making shockwaves across the economic world. In the popular book the author argues that inequality in the western world is on the rise. A thought provoking side step from this popular book comes in the TED Talk by Moyo.

Moyo explores the western worlds obsession with political rights over that of economic rights. She provides an insightful look at how people in developing countries hold different opinions about how the world should work. Those thinking the “western” models of economics are the best should listen and take note of  this talk as it is laced with ideas to think about.

A split is occurring in the thinking pattern between the West and the rest of the world about how economic empowerment of people can be made. China has become a poster child for emerging economies, a country which has seen the fastest improvements in living standards in the shortest time period we have ever witnessed.

This influential economist and published author presents 4 major reasons why she believes China’s economic model is beginning to influence other countries in the world. The economic performance of China has allowed people to move out of poverty, improved inequality, provided major infrastructural improvements and enhanced healthcare capabilities.

Midway through her TED Talk Dambisa stops and delivers these thought provoking lines.

“Ladies and gentlemen, it’s no surprise that around the world, people are pointing at what China is doing and saying, “I like that. I want that. I want to be able to do what China’s doing. That is the system that seems to work.”

Follow the talk and its many more interesting points by clicking play below.

Image credits: royalty free

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