A New Year’s Development Resolution
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, together with advances in economic thinking, should be at the core of the new policy approach that the world needs.
BEIJING/PARIS/NEW YORK – The United Kingdom’s vote to leave the European Union and the United States’ election of Donald Trump as its next president have laid bare developed-country citizens’ dissatisfaction with globalization. Rightly or wrongly, they blame globalization – or, at least, how it has been managed – for stagnating incomes, rising unemployment, and growing insecurity.