Income Inequality: A Global Look

Please for a moment, think of yourself as a citizen of the world who is looking at income inequality. According to World Bank scholars, you should first identify your approach. 1. You could just create 3 baskets for countries, the poor,…

Phone Power

Only 3 years ago in sub-Saharan Africa, more than two-thirds of all roads were unpaved, three-quarters of the population was without electricity, and there were 3 landline phones per 100 people. Enter the cell phone. As of 2010, in low…

Chinese Economic Growth

Our story ends with the recent 2030 Word Bank Report on Chinese economic growth. But we have to start with sunflower seeds. There once was a poor Chinese farmer who believed he could excel at nothing but sunflower seeds. Traditionally…

A “New” World Bank

What if you made a huge amount of money available for projects in Northern Africa and the Middle East? Let’s say you successfully expanded airport capacity in Cairo or raised incomes in rural Tunisian communities? The World Bank can claim…

China’s Market

Sort of like jumbo shrimp and a working vacation, we could say that an authoritarian market is an oxymoron.The chief economist of the World Bank, Justin Yifu Lin, would disagree. As described in a recent New Yorker Magazine profile, Dr.…

Roads to Prosperity

In Part 1 of the Teaching Company course, “America and the New Global Economy,” Professor Timothy Taylor discusses the origination of the euro. Four goals he says were sought: free movement of people, goods, services, and capital.  Central especially to…

Statistical Fun

Reading that China might be concerned with an annual 3.5 percent inflation rate, I wondered how that compared to other countries and the world.  At a Google site with World Bank data, not only did I get some answers, but I had some fun.  Graphically,…