This week Kaushik Basu, the World Bank's chief economist, reflected on the history of and future trends for development. He focused on what he sees as core thinking behind development economics, looking especially to Adam Smith and his brilliant focus on division of labor as an engine of modern economies and on the "invisible hand" of the market. He highlighted the different experiences of China and India and launched a discussion of the live issue of inequality.
Highlights from Dr. Basu's Global Futures lecture, particularly the concept of shared prosperity and the rationale for addressing inequality, are captured in an animated video produced by Global Futures Fellow Manny Fassihi. A full recording of the lecture is also available here.
Arunjana Das | February 16, 2015
Claire Cullen | February 16, 2015
Jonas Bergmann | February 16, 2015
O. Felix Obi | February 16, 2015