Muhamad Chatib Basri for Age of Economics - Full interview

Age of Economics: in the first part of this project a diverse group of global thinkers answers 8 fundamental questions about economics and capitalist civilization. (Interview number 30)

0:00 - Prologue
01:41 - Intro
02:00 - 1. Why does economics matter?
04:47 - 2. What are the differences between economic science and economic engineering?
07:39 - 3. What role does economics play in society? Does it serve the common good?
12:21 - 4. Economics provides answers to problems related to markets, efficiency, profits, consumption and economic growth. Does economics do a good job in addressing the other issues people care about: climate change and the wider environment, the role of technology in society, issues of race and class, pandemics, etc.?
15:37 - 5. As we live in an age of economics and economists – in which economic developments feature prominently in our lives and economists have major influence over a wide range of policy and people – should economists be held accountable for their advice?
18:01 - 6. Does economics explain Capitalism? How would you define Capitalism?
20:54 - 7. No human system to date has so far been able to endure indefinitely - not ancient Egypt or Rome, not Feudal China or Europe, not the USSR. What about global Capitalism: can it survive in its current form?
28:11 - 8. Is Capitalism, or whatever we should call the current system, the best one to serve the needs of humanity, or can we imagine another one?

About Muhamad Chatib Basri
Indonesian. Economist, Former Minister of Finance of Indonesia, scholar

Muhamad Chatib Basri is Indonesia’s former Minister of Finance and former Chairman of the Indonesia Investment Coordinating Board. Currently he is teaching at the the Department of Economics University of Indonesia. He is also the Chairman of Bank Mandiri, one of Indonesia’s largest bank. He was Ash Centre Senior Fellow at the Harvard Kennedy School, Harvard University (2015-2016); Pacific Leadership Fellow at the Centre on Global Transformation, University of California at San Diego (2016); NTUC Professor of International Economic Relation, RSIS, NTU, Singapore (2016); He was also a Thee Kian Wie Distinguished Visiting Professor at the Australian National University (2016-2017). Dr. Basri is a member of the World Bank Advisory Council on Gender and Development, member of the board of commissioner of the Low Carbon Development Initiative for Indonesia and member of the Advisory Board, Centre for Applied Macroeconomic Analysis, the Australian National University. He was a member of the Asia Pacific Regional Advisory Group of the International Monetary Fund (IMF) and was a member of the High Level Trade Experts Group co-chaired by Jagdish Bhagwati and Peter Sutherland. He holds a PhD in Economics from Australian National University and BA from University of Indonesia. His expertise is International Trade, Macroeconomics and Political Economy.

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Interview by Fabio Dondero and Julian Karaguesian

Music: J.S. Bach, from The Well-Tempered Clavier. Kimiko Ishizaka, piano. Video by Fabio Dondero