Centre for IAS and Other Competitive Examinations organises spl lecture by Priyanka Mehtani

Chandigarh, May 21, 2016: Centre for IAS and Other Competitive Examinations today organised a special lecture by Ms Priyanka Mehtani, an Indian Foreign Service officer, 2015 batch and a product of St Stephen’s College. She delivered a lecture on “How the Economic Machine Functions and Why Debt Crises Occur”.

She argued that the economy might seem complex but it works in a simple, mechanical way. It is made up of a few simple parts and a lot of simple transactions that are repeated over and over again. These transactions are above all driven by human nature and they create three main forces that drive the economy: productivity growth, the short term debt cycle and the long term debt cycle.

While explaining the important concepts like inflation, recession, deleveraging and the differences between them she referred to the three takeaways: don’t have to allow the debt rise faster than income; also don’t have income rise faster than productivity and finally the need to do everything to raise productivity.

The lecture was followed by an interactive session where the students asked questions ranging from consolidation in the banking sector to how to prepare for the civil services examinations.