Economics
Economics and the Disregard of Reality
Two articles on economics from leading development economists, one from the last century and another from our times, show the state of economics and the direction it should take if it is to help solve our problems, rather than simply becoming an ideological battleground.
The Doha Round is Dead, Long Live Free Trade
The failure of the WTO trade talks is unfortunate and may accelerate the move to bilateral agreements. All countries, regardless of the justification of their stance, must ask if safeguard mechanisms are really the issue on which they should be playing endgame. Is that not yesterday’s battle?
High Food Prices: An Opportunity for the WFP
Current high food prices illustrate deep-rooted problems all along the agricultural supply chain, rather than simply demand-supply imbalances. Given its inefficiencies, it is best to bypass that system – and the WFP is in the enviable position of being able to do so.
A Dynamic Welfare State?
Is it possible to have both a welfare state and a dynamic economy? Sweden offers hope that it is. Ironically, however, the countries best placed to establish sustainable welfare systems might be the ones most skeptical of them.
India and the Politics of Climate Change
India would benefit from a collective response to global warming, but in the short term a unilateral strategy of high emissions growth is better. How can India ensure the optimal outcome?
Subprime Loans and Race Inequality
The NYTimes finds a clear link between subprime lending and race inequality in America, suggesting even in developing countries the availability of credit, by itself, is no solution to poverty.
Inequality, Globalization, and Economic Growth
YaleGlobal’s Bardhan suggests China and India’s poverty reduction miracle may have less to do with economic growth and globalization than previously thought.
The Economist on Private Sector Quotas
For over a year controversy has raged in India over government plans to extend quotas – India’s version of affirmative action for the lower castes – to the private sector. The plans raised the hackles of many, and for the first time led to questioning the real effectiveness of quotas. Now, the Economist has weighed [...]
