Kaushik Basu
Kaushik Basu, Senior Vice President and Chief Economist of the World Bank, is Professor of Economics at Cornell University.
Kaushik Basu, Senior Vice President and Chief Economist of the World Bank, is Professor of Economics at Cornell University.
For decades, the assumption underlying mainstream economics was that Adam Smith’s invisible hand worked its magic seamlessly, keeping markets in equilibrium during changes in supply and demand. It was… read more
Much is at stake when the World Bank formulates the global poverty line. But, because there is no unique definition of poverty, what matters most is to draw a line at some reasonable place and then ho… read more
The recent decline in oil prices is likely to have a major, largely positive impact on the global economy – even greater than most observers seem to recognize. If governments take advantage of lower o… read more
One reason global poverty has been so intractable is that it remains largely out of sight for those who are not living it, safely somebody else’s problem. If poverty were communicable, its incidence w… read more
For the last few years, economists have been running through the alphabet to describe the shape of the long-awaited recovery – starting with an optimistic V, proceeding to a more downbeat U, and endin… read more
Do the benefits of economic growth trickle down on their own, benefiting all, or do we need targeted redistributive policies to reduce extreme and chronic poverty? Many people remain in the growth-onl… read more
One thing that experts know, and that non-experts do not, is that they know less than non-experts think they do. This much was evident at the just-completed Spring Meetings of the International Moneta… read more
For emerging economies, medium- to long-term growth prospects are bright. Easing short-term jitters will require a clear and credible program for returning high-income economies, especially those in E… read more
One positive fallout of the financial crisis of 2007-201? is our realization that financial products can be as complex and dangerous as drugs. But, if that's true, shouldn't we require a prescription … read more
The ongoing global economic slowdown, which began in 2008 with the financial crisis in the United States, could set a new endurance record. What is certain is that with growth stalling in Japan and sl… read more
