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Quote of the Week: Olav Thon

Sina Odugbemi's picture

 "You can’t feed a cat with cream and food in the kitchen and expect him to go catch mice."

 - Olav Thon, a Norwegian real estate developer and billionaire, who worked his way from being a poor farm boy to Norway’s wealthiest resident.  He is listed in the Forbes list of billionaires as the 198th richest person in the world and is nicknamed "the fox."

 

The Highs and Lows of the Global ICT Landscape

Uwimana Basaninyenzi's picture

For the last twelve years, the World Economic Forum and INSEAD have been publishing The Global Information Technology Report (GITR), which features a Network Readiness Index (NRI) that measures the ability of countries to leverage information communication technologies (ICTs) for growth and well-being. This year’s GITR, which focuses on jobs and growth, covers 144 countries. The assessments are based on a broad range of indicators that include Internet access, adult literacy, and mobile phone subscriptions. As noted in the report, the growing availability of technology has empowered citizens of both developed and developing countries with good access to the digital world. However, this year’s GITR has some sobering news about the state of ICTs in many parts of the developing world. Despite some positive trends, the report shows a sharp digital divide between impoverished nations and richer economies.

Merit, Privilege or Slumdog Millionaires? Income Inequality and Social Mobility

Duncan Green's picture

In memory of Sebastian Levine, who liked to read these posts.

This post is written by Ricardo Fuentes-Nieva, Oxfam’s Head of Research (twitter @rivefuentes)

In Danny Boyle’s movie Slumdog Millionaire, the young character wins a large pot of money against all odds. The movie is a fantasy tale for all practical purposes. The hero knows the responses posed to him in a quiz show through a number of coincidences and lucky breaks. It was his only chance to become wealthy.

What type of societies give better, more just chances to everyone? What is the connection between opportunity and socio-economic disparities? There are, at the risk of being simplistic, two broad sources of inequality: inequality resulting from individual entrepreneurship and effort (I’ll call it merit inequality) and the inequality that reproduces privilege and elite capture (I’ll call it privilege inequality).

A simple way to discover whether inequality is actually a result of merit is to think how far effort and hard work can take us. I recently heard Kaushik Basu, the new Chief Economist at the World Bank, detail an anecdote about this during a meeting with civil society people in London.  When Basu visits his home city of Kolkata he goes for long walks and sometimes he wanders around a privileged district that stands in sharp contrast with the nearby slums. The close proximity of the two vastly different lifestyles ensures that slum dwellers also visit this district. Then Basu said, to the best of my recollection: “it is not fair to tell a kid in the slum that by working hard he will be able to achieve the wealth needed to live in that neighbourhood.”