Poor Economics, Great Economists

Written by Ryan McGuine // In October, economists Abhijit Banerjee, Esther Duflo, and Michael Kremer were awarded the Nobel Prize in Economic Sciences "for their experimental approach to alleviating global poverty." All three recipients are Americans, though Mr Banerjee and Miss Duflo are immigrants. Miss Duflo is just the second woman to have won the … Continue reading Poor Economics, Great Economists

The Sustainable Development Goals

Written by Ryan McGuine // In the year 2000, the United Nations (UN) adopted the United Nations Millennium Declaration, a document that established the Millennium Development Goals (MDGs) — eight goals related to economic development with a target completion date of 2015. Those targets were: To eradicate extreme poverty and hunger To achieve universal primary education To promote gender equality and … Continue reading The Sustainable Development Goals

Defining Development

Written by Ryan McGuine // The term "development" generally refers to the level of well-being that people enjoy, but quantifying well-being is not an easy thing to do. The traditional, and still most commonly-used, way to measure and compare levels of well-being across countries is personal income — gross national income (GNI) per capita. A … Continue reading Defining Development