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Submitted by Greg Chen on


A persuasive piece; especially on the macro-economic stability. Had greater volatility been present over the past decade or more it would likely have meant a much higher degree of disruption of underlying economic activities and even social service delivery (for example, affecting wages of service delivery staff). I tend to agree that the missing pieces you identify are powerful.

Your piece raises one other question to my mind - the relative size of fiscal deficits and government engagement in the economy. Much of the economic growth comes from private industry and small scale enterprise. Perhaps making the case for strong social programs combined with more restrained direct government involvement in the economy. At least this formula seems to have worked so far in Bangladesh.