Subscribe to Elucidations: Note: this episode was recorded in April of 2023.
Full transcript here. In this episode, Matt sits down with Shruti Rajagopalan (Mercatus Center) to talk about what the future holds for India. Click here to download episode 150 of Elucidations.
We often have a tendency to think of the current economic and geopolitical situation as simply the way things are. Especially for people who grew up in the United States over the past 50 years, the fact that it is an economic and military superpower sorta feels set in stone. But in this episode, Shruti Rajagopalan encourages us to take the long view, regarding the current state of the US as just one phase in a decades or possibly centuries-long economic development life cycle. First, the country logs a certain number of decades as a manufacturing hub, under conditions of minimal top-down interference from regulatory bodies. This enables it to build wealth, which eventually pushes it away from being a manufacturing economy, but it’s a race against the clock. With economic growth comes a rise in average life expectancy, plus a lower birth rate, which together can lead to large aging population. Once the aging population increases, the country’s economy needs to be strong in order to accommodate all the caregiving that an aging population makes necessary.
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