The Early 2020s: Former World Bank President David Malpass on COVID, Inflation, China, and Climate

Jon Hartley and David Malpass discuss David’s career, and his service in government, including his time as president of the World Bank Group. They also discuss the changing role of China in international finance as well as the IMF and World Bank responses to the COVID-19 pandemic, the global distribution of COVID-19 vaccines, COVID-19 sovereign debt relief (Debt Service Suspension Initiative or DSSI)),and  how the early 2020s inflation has impacted developing countries, economic growth, and climate policy. Recorded on September 20, 2024. ABOUT THE SPEAKERS: David Malpass served as the 13th president of the World Bank Group. Prior to his appointment at the World Bank, David served as Undersecretary of the US Treasury for international affairs during the Trump administration. Before joining the US Treasury, David founded and led a macroeconomics research firm based in New York City.  He has also served as chief economist of Bear Stearns, where conducted financial analyses of countries around the world. Earlier in his career, David served in various roles at the Treasury during the Reagan and George H.W. Bush administrations as well as in the US Senate working on the Budget Committee and Joint Economic Committee. Jon Hartley is a Research Assistant at the Hoover Institution and an economics PhD Candidate at Stanford University, where he specializes in finance, labor economics, and macroeconomics. He is also currently a Research Fellow at the Foundation for Research on Equal Opportunity (FREOPP) and a Senior Fellow at the Macdonald-Laurier Institute. Jon is also a member of the Canadian Group of Economists, and serves as chair of the Economic Club of Miami. Jon has previously worked at Goldman Sachs Asset Management as well as in various policy roles at the World Bank, IMF, Committee on Capital Markets Regulation, US Congress Joint Economic Committee, the Federal Reserve Bank of New York, the Federal Reserve Bank of Chicago, and the Bank of Canada.  Jon has also been a regular economics contributor for National Review Online, Forbes, and The Huffington Post and has contributed to The Wall Street Journal, The New York Times, USA Today, Globe and Mail, National Post, and Toronto Star among other outlets. Jon has also appeared on CNBC, Fox Business, Fox News, Bloomberg, and NBC, and was named to the 2017 Forbes 30 Under 30 Law & Policy list, the 2017 Wharton 40 Under 40 list, and was previously a World Economic Forum Global Shaper. ABOUT THE SERIES: Each episode of Capitalism and Freedom in the 21st Century, a video podcast series and the official podcast of the Hoover Economic Policy Working Group, focuses on getting into the weeds of economics, finance, and public policy on important current topics through one-on-one interviews. Host Jon Hartley asks guests about their main ideas and contributions to academic research and policy. The podcast is titled after Milton Friedman‘s famous 1962 bestselling book Capitalism and Freedom, which after 60 years, remains prescient from its focus on various topics which are now at the forefront of economic debates, such as monetary policy and inflation, fiscal policy, occupational licensing, education vouchers, income share agreements, the distribution of income, and negative income taxes, among many other topics. For more information, visit: capitalismandfreedom.substack.com/