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Inequality at the very very very top: What does the Forbes Billionaires database tell us?

Joao Pedro Azevedo's picture

Thinking about inequality is back in fashion! In its November 2013 outlook, the World Economic Forum called rising inequality the second biggest risk for 2014-15. The 2014 English translation of French economist Thomas Piketty’s “Capital in the 21st Century” became an instant bestseller among academics and practitioners in both developed and developing countries. Discussions of inequality are popping up everywhere, and even seem to be setting the tone of many round tables and presentations in the World Bank Group’s upcoming Annual Meetings.

Weekly Wire: The Global Forum

Roxanne Bauer's picture

These are some of the views and reports relevant to our readers that caught our attention this week.

Focus on Migration: Rising migration is a myth
SciDevNet
Hardly a week goes by without media coverage of the fears, in developed nations, that immigrants from poorer countries are overwhelming them. A recent story in the British newspaper The Telegraph — describing how open borders, the “ravages of globalisation”, and a welfare economy have given rise to social resentment — is just one example. [1] Such narratives tap into the popular myth that globalisation has led to a one-way, free flow of migrants from poorer countries — making migration a political issue almost everywhere in the industrialised world.

Facebook is more important to news distribution than you think, and journalists are freaked out
Poynter
Facebook’s Liz Heron answered for a litany of perceived sins and slights last week during a conversation with The Atlantic’s Alexis Madrigal and attendees at the Online News Association conference in Chicago. Journalists are anxious about being left out of the loop about how Facebook works, and they want answers. Does Facebook play favorites in the News Feed Algorithm? Nope, according to Heron, the company’s head of news partnerships. In other words: If you want to be successful on Facebook, don’t get caught up in the nuts and bolts of what it favors or disfavors about posts (and it won’t tell you much about those nuts and bolts anyway, so that works out).

Replacing Europe’s Dual Labor Markets with a Single Contract

Tito Boeri's picture

In recent decades, many European countries have tried to instill greater labor market flexibility through increased use of fixed-term, temporary work contracts, as opposed to open-ended or permanent ones. The result has been dual labor markets, with temporary workers having fewer rights and job security than those on permanent contracts. One expert on the topic – Tito Boeri, Professor of Economics and Dean for Research at Bocconi University, Milan – stresses that temporary workers were especially hard hit during the Great Recession.

Pension Fund CEO: Pricing Carbon Fixes a Market Failure

Philippe Desfossés's picture
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Philippe Desfossés is the CEO of ERAFP, the French Public Service Additional Pension Scheme. He spoke about carbon pricing from an investor's perspective.

“I support putting a price on carbon because it fixes a market failure. Without carbon pricing, the market has no way to address the costs associated carbon emissions. These costs end up being born by everyone, including companies and societies.

China’s Yang Lan Asks How to Help the Have-Nots

Donna Barne's picture
Poverty may be falling, but 1 billion people still live in extreme poverty. Inequality is growing everywhere. What is the World Bank Group doing about this?

The World Bank Group President Jim Yong Kim and World Bank Chief Economist Kaushik Basu had some answers in a live-streamed conversation, Building Shared Prosperity in an Unequal World, with Chinese media entrepreneur Yang Lan in the lead-up to the institution’s Annual Meetings on Wednesday morning.

Engaging the Public on Country Partnership Strategies

Aaron Rosenberg's picture
Open India
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Country Partnership Strategies are a central element of the World Bank Group’s effort to act in a coordinated way to end extreme poverty and boost shared prosperity. But they can be hard for the average person to navigate—some are three-volume tomes, and others can be dense with technicalities. When we make them inaccessible to the general public, we often forgo a critical opportunity to build broad support for our work.

This year, the Bank Group’s India team decided to take a more innovative approach—one that has the potential to directly engage the public and perhaps even spur others to join us in our cause. In producing the Country Partnership Strategy for India, the team opted not to create a simple PDF for the website. Instead it produced a well-designed book, flush with easy-to-understand graphics and appealing photographs. It also produced a highly interactive web application that visualizes the strategyand tracks the strategy’s progress towards its goals over time. The tool shows exactly how individual projects along with knowledge and advisory work line up with our twin goals, and what outcomes we expect in each instance.

Youth Summit 2014: The Need for Open and Responsive Governments

Mario Marcel's picture



Yesterday, I was reminded of what it means to be young again: eager faces, fresh idealism, and boundless energy animated the IFC auditorium as more than 300 young leaders from government, civil society, development, and academia packed the IFC auditorium for the World Bank Group’s Youth Summit on “The Need for Open and Responsive Governments.”
 
I had the pleasure of moderating the first plenary session of the summit – a lively discussion exploring how we can give youth a voice in the open government process and ensure that public services address their needs.
 
The panelists were Ahmad Alhendawi, UN Envoy for Youth; Edith Jibunoh, World Bank Group Civil Society Advisor; Nigel Chapman, President and CEO of Plan International; and Frank Vogl, Co-Founder of Transparency International.

Inequality and Africa’s IDA Middle Income Trap

Ravi Kanbur's picture



Inequality is of concern for at least three reasons. First, lower inequality per se is an objective for a decent society. Second, lower inequality improves the efficiency of economic growth in achieving poverty reduction. Third, high inequality impedes growth itself, through its impact on social cohesion and the investment climate.

So You’ve Written the Research Report: What Else Do You Need to do to Ensure People Actually Read it?

Duncan Green's picture

Remember the old days when you wrote a report, published it (perhaps with some kind of executive summary), did a couple of seminars and then declared victory and moved on? Social media have changed that game almost beyond recognition: to maximize impact, any new report more closely resembles a set of Russian dolls, with multiple ‘products’ (hate that word) required to hit different audiences and get the message out. I’ve tried to list them, but am bound to have missed some – please fill in the gaps:

  • The report: 100 pages of well researched, clearly argued, and insightful thinking. Which (apart from other researchers) hardly anyone reads
  • The Overview Chapter: 10-15 pages with all the juice from the report
  • The Executive Summary: A two pager for the time-poor
  • The landing page: better be good, or people won’t click through
  • The press release, with killer facts, notes to editors, offers of interviewees, embargo times and all that old media mularkey
  • The blog post: a way of alerting your particular epistemic community to the existence of your masterpiece
  • The tweets, although personally I hate those naff ‘suggested tweets’ you get from comms people
  • The infographic: if you want to get retweets, these work much better than text. ODI currently the most infographic-tastic of development thinktanks
  • The 4 minute youtube piece, preferably not looking as knackered as Matt Andrews often does

Media (R)evolutions: Mobile Attracts ICT Start-ups and Entrepreneurship

Roxanne Bauer's picture

New developments and curiosities from a changing global media landscape: People, Spaces, Deliberation brings trends and events to your attention that illustrate that tomorrow's media environment will look very different from today's, and will have little resemblance to yesterday's.

The increasing penetration of mobile services and mobile internet is opening up opportunities for innovation, especially in emerging markets. This can be seen in the health sector, financial services, and many other fields, where ICT start-ups and small and medium enterprise (SMEs) are working with mobile services to create business and jobs. The World Bank reports that "9 out of 10 jobs in developing economies" come from the private sector, and that "The main thrust of that comes from micro-, small-, and medium-sized enterprises, especially in technology sectors—a recent study argues that 3 jobs are created in a community for every new high-tech job." 

The following graph shows the distribution of ICT start-ups and SMEs in relation to the number of mobile subscribers. In developed countries, technology firms and internet providers have been at the forefront of innovation, but in emerging markets mobile operators are increasingly leading the way.
 

 


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