Economics
Microfinance is Growing Up
The failure in microfinance has been that it has for too long believed in its own rhetoric of poverty alleviation. Now that research proves otherwise, the debate is no longer about what impact microfinance has on society, but how society can use microfinance as a business.
The World Bank: Inventor of Last Resort?
Financing for global public goods remains dangerously low. Yet the Gates Foundation shows there is a case for an international institution to invest in the needs of developing countries. Subramanian suggests the World Bank should do this – will the developed world agree?
Time for Caution in Financing Microfinance?
The WSJ report of too much microfinance raises a dangerous parallel with the subprime crises. It is time that social investors scaled back their optimism on the impact of microfinance and its investment potential. As this crises has shown, endless growth cannot be without consequence.
Rebuttal: Education and the State
My last two posts (here, here) on the role of the state in providing education and conversely questioning that of the private sector, resulted in some very illuminating responses from both sides of the spectrum. As a result, I will soon followup with an additional post highlighting previously unaddressed issues in this debate (and welcome other [...]
Proving the Worth of Public Education
Liberal economists suggest our public schools are terrible, and private schools are the answer. Yet, sufficient evidence exists that public schools are, in many cases, even better than private ones.
Education and the State: Seeking Balance
The failure of India’s primary education system deserves a solution. Yet, privatization is neither necessary, nor sufficient, and cannot be embarked upon without debating the desired balance between quality and equity.
Inequality in the US: India’s Choice
I have written a lot recently on inequality – in India and in Asia. The basic point has been the same – that inequality is bad from a social and moral point, but (as the ADB argues in its report on Asia) also from an economic point of view. In the same vien I pulled [...]
