GDP Center Round-Up: Spring 2024 Global Economic Governance Book Talk Series

By Daniella Luna and Samantha Igo

The Spring 2024 Global Economic Governance Book Talk Series brought together four distinguished scholars with recent books, spanning India’s economic history to social protection and austerity in International Monetary Fund (IMF) programs.

Ashoka Mody opened the series with a discussion on the economic history of India through the lens of public goods and social accountability, and following him, Manuela Moschella explored the transformation of central banks from the 1970s. Finally, in May, Alexandros Kentikelenis and Thomas Stubbs joined the series to present findings from their analysis of decades of IMF programs.

Below, see a summary and recording for each webinar in the Spring 2024 Global Economic Governance Book Talk Series:

India is Broken: A People Betrayed, Independence to Today

Ashoka Mody, Boston University alum and Charles and Marie Robertson Visiting Professor in International Economic Policy at Princeton University, opened the series in February on his 2023 book, “India is Broken: A People Betrayed, Independence to Today.”

In discussion with Neva Goodwin, GDP Center Alumni Advisory Board Member, Mody discussed how his book explores the economic history of India through the lens of public goods and social accountability, shedding light on what he sees as a breakdown of norms as well as highlighting shifts that will be necessary for India to change course towards a more sustainable and equitable governance system. Mody emphasized that while there isn’t a single economic framework to capture these complexities, there’s a need for a broader social commitment to achieve inclusive development outcomes. Read the webinar summary.

Unexpected Revolutionaries: How Central Banks Made and Unmade Economic Orthodoxy

In March, Manuela Moshella, Professor of Political Science at the University of Bologna, presented on her new book, “Unexpected Revolutionaries: How Central Banks Made and Unmade Economic Orthodoxy.” In discussion with Perry Mehrling, Professor of International Political Economy at the Boston University Pardee School of Global Studies, Moschella explained the institutional transformation of central banks from the 1970s to the present.

Moschella’s book explores how central banks’ roles shifted after the 2008 global financial crisis and the COVID-19 pandemic, arguing that central banks worldwide have adopted unconventional policy levers to address issues beyond the limited mandate of price stability. The book ultimately challenges the notion that central banks solely respond to financial markets; they instead operate within a complex web of political influences, needing to consider the demands of various stakeholders to ensure their continued effectiveness. Read the webinar summary.

A Thousand Cuts: Social Protection in the Age of Austerity

The final event of the series in May featured Alexandros Kentikelenis and Thomas Stubbs, co-authors of the new book, “A Thousand Cuts: Social Protection in the Age of Austerity.” The authors’ discussion centered around the IMF’s policy on austerity, both historically and today, and how the institution might better support social policies in borrower countries. Rebecca Ray, Senior Academic Researcher with the GDP Center’s Global China Initiative, moderated the event.

In their book, the authors find that IMF programs with more conditions are linked to increases in income inequality for borrower countries and decreases in government health expenditures. They also showed that austerity is not a thing of the past, and they sought to bring the debates on the consequences of structural adjustment back to the forefront of the public conversation. Read the webinar summary.

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