Time for new vanguard of economic policymakers overdue |
‘The current economic order neglects the interests of people and the planet, and the world needs a system that will serve both. Achieving that change will require more than tinkering at the margins—it demands a deep restructuring of how economies work and whom they benefit.’ – An excerpt from a February 25, ‘Foreign Affairs’ magazine article ‘The broken economic order’ by internationally-renowned economist, Mariana Mazzucato
Most talk shows in media and policy thought process broadly for a number of years now point towards the preponderance of neoliberal-minded economists.
Even after years of misgivings of Neoliberalism and the related over-board austerity and pro-cyclical policy, the continuation to place time and again the economists with an overall mindset that reflects this policy bent – from a number of finance ministers, governors of central bank to deputy chairmen of planning commission, to ministers of other economy related ministries – has to be more than just naivety, but strongly appears to be indicative of screening people by overall successive governments to serve the Neoliberalism-based extractive politico-economic institutional design.
This is also made more evident in the shape of serious lack of comparable air-time or space in policy discussions of economists that internalize in their arguments the misgivings of neoliberal policies.
Neoliberalism, over-board austerity framework, and pro-cyclical policy inclination have come under serious scrutiny over the last four decades or so, but particularly since the Global Financial Crisis 2007-08 in........