Latin America is proof that the global trend of rising economic inequality can be reversed, if the political will exists. Despite historically being the most unequal region in the world, it is the only region that has managed to reduce inequality during the past decade.
We want to build a global conversation around ending extreme inequality, and folks are already engaging. Here are some good questions I've heard since our launch, and my take.
Tremendous efforts are under way to upgrade sub-Saharan Africa's infrastructure. But the needs on the ground are still immense as evidenced by the frequent electricity blackouts, poor roads, and insufficient access to clean water in many countries.
Raising the minimum wage is a polarizing issue. One side worries that raising it will lower employment. The other side downplays the impact on employment and plays up the positive impact on the living standards of the poor.
As the World Bank Group (and the IMF) shareholders convened the other week in Washington, DC for their annual meetings, one lesser-known issue grabbed the spotlight -- the new environmental and social policies.
China may join in discussions about hotspot issues with the aim of seeking a peaceful solution, but it will not turn into a party involved in the conflict or take steps that make the problem worse.
It is true that the rate of economic growth has quickened, but that rate is still low by pre-recession standards. In July the IMF actually cut the U.S. growth forecast for 2014 to just 1.7 percent, the CBO's in August was just 1.5 percent. These are not stellar growth numbers.
The International Monetary Fund doesn't want to say it outright, but its latest World Economic Outlook shows more stagnation of the European and Japanese economies, and the possibility of a third EU recession since 2008.
At this week's annual meetings of the World Bank Group and International Monetary Fund (IMF), the topic of inequality is buzzing. And rightly so given that extreme economic inequality is one of the largest barriers to ending extreme poverty.
In our media moment, even the smallest demonstration, charitable effort or advocacy campaign can go global in an instant. Yet, the sum of modern civil society is more than a collection of breaking news headlines, viral videos or hashtags trending on Twitter.
In some countries, particularly in Europe, reform of labor markets may be necessary to remove persistent rigidities. Fiscal policy cannot substitute for such reforms. But fiscal policy can work in tandem with broader structural reform efforts to support job creation.
Among advanced countries, the United States and the United Kingdom in particular are leaving the financial crisis behind and achieving decent growth. Even for them however, potential growth is lower than it was in the early 2000s.
I have three key messages for you today: 1. Policymakers are facing a new global imbalance: not enough economic risk-taking in support of growth, but...
As the World Bank and the IMF meet in Washington this week, people are asking, is the global economy finally out of time? The financial institutions said once again 2014 could be the year the global economy emerged from six years of recession and slow growth. They were wrong again.
In Africa, like any other part of the world, business is about starting with the right idea. What makes this beautiful continent of mine very unique is the fact that it's rapidly changing. 'There's money to be made everywhere.'
Poland and Germany -- with a long history of conflict -- are very close partners. Chancellor Angela Merkel was instrumental in elevating Poland's conservative Prime Minister Donald Tusk to becoming the next president of the EU council.