Kaushik Basu
Kaushik Basu, former Chief Economist of the World Bank, is Professor of Economics at Cornell University and Nonresident Senior Fellow at the Brookings Institution.
Kaushik Basu, former Chief Economist of the World Bank, is Professor of Economics at Cornell University and Nonresident Senior Fellow at the Brookings Institution.
North Korea's recent ICBM test implies a level of nuclear risk witnessed only once before: the Cuban missile crisis of 1962. The question is whether today’s leaders will show the same degree of strate… read more
In 50 years, the world economy is likely to be thriving, with global GDP growing by as much as 20% per year, and income and consumption doubling every four years or so. The key to ensuring such an out… read more
Former US President Barack Obama recently agreed to accept $400,000 from the investment firm Cantor Fitzpatrick for a speech he will give this September. He should use those proceeds to fight inequali… read more
Global inequality today is at a level last seen in the late nineteenth century – and it is continuing to rise. As the consequences feed through to geopolitics, eroding stability, the need to devise ne… read more
If US President Donald Trump follows through on his protectionist threats against China, the short-run consequences – including a trade war – could be serious. But, in the longer term, US protectionis… read more
Donald Trump has promised to save US jobs by slapping import tariffs on foreign goods, influencing exchange rates, restricting inflows of foreign workers, and creating disincentives for outsourcing. B… read more
As 2016 comes to an end, so should the old modes of economic thinking that have produced so much economic hardship and fueled so much political turmoil. The lessons of past economic development, toget… read more
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 reason lower- and middle-class people are suffering economically is not immigration or trade, but rather the steady march of technology. As jobs are replaced by machines or off-shored to emerging … 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
