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LTD Editors's blog

Friday Roundup: Globalization, schooling gaps, the five hour energy guy, inequality, Phailin's wake and China in world trade

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Simon J Evenett and Douglas Irwin debate on the future and prospects of globalization in the latest edition of the Economist Debates.

In 'The Gap Between Schooling and Education' on the NYT Economix blog, Annie Lowrey interviews CGD's Lant Pritchett about his new book, "The Gap Between Schooling and Education."

The WSJ's 'At Work' blog carries an interview by Rachel Feintzeig with Manoj Bhargava, a CEO who dropped out of Princeton and lived like a monk in India for 12 years before making it big.

Joe Stiglitz has a piece titled 'Inequality is a Choice' on the NYT's opinionator blog.

Stiglitz on Milanovic and inequality

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In today's NYT opinionator blog, Joe Stiglitz writes about inequality and the research of Branko Milanovic, World Bank lead economist and inequality expert. In his post, Stiglitz draws from Milanovic's research on long range inequality trends to ponder who the winners and losers of globalization have been and how the most recent worldwide financial crisis affected both the level of global inequality and the relative importance of differences in mean country income vs. nationally based inequalities. His post explores whether we envisage a situation where income inequality continues, by and large, to increase within nations, but, spurred by the high growth of China and India, decreases globally. Stiglitz also ponders the hollowing-out of traditional middle classes in rich countries.

Friday Roundup: From Poverty to Prosperity, Risk & Opportunity, MDGs Beyond 2015 & World Bank-IMF 2013 Annual Meetings

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As the World Bank Group-IMF Annual Meetings unfold, the two organizations have been buzzing with activity - a lot of which has revolved around themes discussed on Let's Talk Development in the past few months.

Most visibly, President Jim Yong Kim has laid out his vision for the future of the World Bank Group.  Kim has given over this week numerous speeches and views on the two goals of ending extreme poverty and promoting shared prosperity, including a stated target of reducing extreme poverty to 9% by 2020.  See Kim, UNDP Administrator Helen Clark, South Africa Finance Minister Pravin Gordhan, Chief Economist Kaushik Basu and the IDB's Santiago Levy discuss their thoughts in a panel titled 'From Poverty to Shared Prosperity.'

Friday round up: Fighting extremism, Peru and health care, latest climate report, the Palma inequality measure, and Laos in space

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Malaysia's Prime Minister is interviewed in New York earlier this week by Fareed Zakaria, explaining the Global Movement of Moderates that he set up to counter extremist ideology.

In "The BRICs Paradox: A Healthy Economy and Bad health Care," Eduardo Gomez writes in The Atlantic on how Peru is growing robustly yet still faltering in terms of health system reforms.

In the NYT's Dot Earth blog, Andrew Revkin describes how the IPCC's fifth report clarifies humanity's choices.

Testing information constraints on India's largest antipoverty program

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Public knowledge about India's ambitious Employment Guarantee Scheme is low in one of India's poorest states, Bihar, where participation is also unusually low. Is the solution simply to tell people their rights? Or does their lack of knowledge reflect deeper problems of poor people's agency and an unresponsive supply side?

Weekly round up: Fresh water, India's economy, the Global Fund and the next wireless revolution

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How clean water is reaching India's slums via solar-powered ATMs.

And newly discovered aquifers as a potential source of fresh water in Kenya.

Ashutosh Varsney in the Indian Express on Democracy v. Capitalism in India and Raghuram Rajan on making, 'The Case for India.'

Friday round up: Basu on India, Krugman on age of bubbles, Egypt, Syria and Cash transfers

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Kaushik Basu on the world economy and India's rough patch, during a visit there.

Paul Krugman on how India and some of the other BRICs hitting a rough patch in his piece titled 'This age of bubbles.'

Egypt needs truth and reconciliation, says Hafez Ghannem, via Brookings.

Friday round-up: Egypt, emerging markets, the great rotation, China's economic data, Bono on capitalism, and the science of delivery

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An Egypt blog in The Economist on 'the battle of fictitious facts' talks about the wildly disparate narratives coming out of Cairo as the streets seeth and the death toll mounts.

Natsuko Waki writes in Reuters about a recovery in developed markets, the 'Great Rotation' out of bonds and flight from emerging markets.

Is China fudging vital macreconomic data? Business Insider Australia covers new research by Christopher Balding of HSBC School of Business at Peking University about how China added $1 trillion to its economy by fudging data.

Growth Still Is Good for the Poor: New paper also looks at shared prosperity

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Incomes in the poorest two quintiles on average increase at the same rate as overall average incomes, according to a new working paper by David Dollar (Brookings Institution), Tatjana Kleineberg and  Aart Kraay. In a global dataset spanning 118 countries over the past four decades, changes in the share of income of the poorest quintiles are generally small and uncorrelated with changes in average income. The variation in changes in quintile shares is also small relative to the variation in growth in average incomes, implying that the latter accounts for most of the variation in income growth in the poorest quintiles. These findings hold across most regions and time periods, as well as conditional on a variety of country-level factors that may matter for growth and inequality changes. This evidence confirms the central importance of economic growth for poverty reduction and illustrates the difficulty of identifying specific macroeconomic policies that are significantly associated with the relative growth rates of those in the poorest quintiles. This reprise of Dollar and Kraay's earlier work also looks at the World Bank's new "shared prosperity" goal by considering the income growth rates of the poorest 40% of the population in each country in addition to looking at the poorest 20%.

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