Worker productivity really does matter everywhere

The Economist recently reported some interesting observations about why Latin America has fallen so far behind the economic growth in East Asia. One word — Worker Productivity The chart on the right shows that in the past 30 years relative to the USA, workers in East Asia have increased their productivity faster and workers in… Continue reading Worker productivity really does matter everywhere


A better way of tracking economic growth?

Kaushik Basu of Cornell University and author of Prelude to Political Economy: A Study of the Social and Political Foundations of Economics, researched and found that governments rarely listen to economic advisors unless they are telling them what they want to hear. Basu recently became the chief economic advisor to India’s finance ministry and so… Continue reading A better way of tracking economic growth?


Microcredit helps the entrepreneurial poor

The Economist published an article called, A partial marvel, last month which summarizes the results of various research which evaluates the value of microcredit in helping the poor.  The Net:  Not everything (as expected) is rosy. Here are a few highlights: Funds still subsidized. 53% of the $11.7B committed to microfinance industry came at rates… Continue reading Microcredit helps the entrepreneurial poor