Found 128 article(s) for author 'Ricardo Hausmann'

Overdosing on Heterodoxy Can Kill You

Overdosing on Heterodoxy Can Kill You. Ricardo Hausmann, May 30, 2016. “Ever since the 2008 financial crisis, it has been common to chastise economists for not having predicted the disaster, for having offered the wrong prescriptions to prevent it, or for having failed to fix it after it happened. The call for new economic thinking has been persistent – and justified. But all that is new may not be good, and that all that is good may not be new.Link

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Economic Development and the Accumulation of Know-how

Economic Development and the Accumulation of Know-how. Ricardo Hausmann, May 2016, Paper. “Economic development depends on the accumulation of know-how. The theory of economic growth has long emphasised the importance of something called technical progress, but what that is, and how it grows has not been well elucidated. Technical progress is really based on three separate aspects: tools, or embodied knowledge, recipes or blueprints or codified knowledge and know-how or tacit knowledge. While tools can be shipped and codes can be e-mailed, know-how exists only as a particular wiring of the brain and as such it is hard to move around. That is why the growth of know-how can easily become the binding constraint on the development process.Link

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Why is Chiapas Poor?

Why is Chiapas Poor? Ricardo Hausmann, March 2016, Paper, “No matter which way you look at it, Chiapas is the most backward of any state in Mexico. Its per capita income is the lowest of the 32 federal entities, at barely 40% of the national median (Figure 1). Its growth rate for the decade 2003-2013 was also the lowest (0.2%), causing the income gap separating Chiapas from the national average to increase from 53% to 60%. That is to say that today the average income for a worker in Mexico is two and a half times greater than the average in Chiapas.Link

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It Could be Too Late to Avoid Catastrophe in Venezuela

It Could be Too Late to Avoid Catastrophe in Venezuela. Ricardo Hausmann, February 3, 2016, Opinion. “As markets brace themselves for the negative effects of the decline in oil prices, Venezuela will probably be the first big domino to fall. Domestically, the most likely scenario is an imminent economic collapse and a humanitarian crisis. Internationally, it will imply the largest and messiest emerging market sovereign default since the Argentine crisis of 2001. The situation is made worse by the inability of the political system, at present, to address the situation.Link

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Ricardo Hausmann on Growth, Inequality and Preventing the Next Financial Crisis

Ricardo Hausmann on Growth, Inequality and Preventing the Next Financial Crisis December 2015. GrowthPolicy staff member Devjani Roy interviewed Harvard Kennedy School Professor Ricardo Hausmann, focusing on three key questions motivating the GrowthPolicy website. Below is an edited version of Professor Hausmann’s comments. Click here for more interviews like this one. What are the challenges […]

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The Import of Exports

The Import of Exports. Ricardo Hausmann, November 26, 2015, Opinion. “Should a country’s development strategy pay special attention to exports? After all, exports have nothing to do with satisfying their people’s basic needs, such as education, health care, housing, power, water, telecoms, security, the rule of law, and recreation. So why give precedence to satisfying the needs of distant foreign consumers? That, in a nutshell, is what many opponents of free trade and economic globalization – as well as many on the right who believe that all industries should be treated equally – want to know. But there are no right answers to wrong questions…Link

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Don’t Fear the IMF

Don’t Fear the IMF. Ricardo Hausmann, September 28, 2015, Opinion. “The International Monetary Fund is, in many places, the organization that everybody loves to hate. According to some, the IMF is bad for the poor, women, economic stability, and the environment. Joseph Stiglitz, whose influence is amplified by his Nobel Prize, blames the IMF for causing and then worsening the economic crises it was called on to resolve. The IMF purportedly does so to save capitalists and bankers, not ordinary people. Though untrue, this belief does enormous harm and limits the potential good that the IMF can do…Link

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Development Policy Strategy

Development Policy Strategy. Ricardo Hausmann, Fall 2015, Syllabus. “This is a capstone course that integrates a variety of analytical tools to assess the development challenges faced by countries. The course will develop the tools to diagnose growth constraints, structural transformation possibilities, macroeconomic imbalances, fiscal policy, labor market performance, the sources of inequality and volatility, and relate them to policy issues. The course will be applied in the sense that it starts from observations and explores how different theories make sense of the facts. Students will be required to make assessments of these…Link

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Does Capitalism Cause Poverty?

Does Capitalism Cause Poverty? Richard Hausmann, August 21, 2015, Opinion. “Capitalism gets blamed for many things nowadays: poverty, inequality, unemployment, even global warming. As Pope Francis said in a recent speech in Bolivia: ‘This system is by now intolerable: farm workers find it intolerable, laborers find it intolerable, communities find it intolerable, peoples find it intolerable. The earth itself – our sister, Mother Earth, as Saint Francis would say – also finds it intolerable.’ But are the problems that upset Francis the consequence of what he called “unbridled capitalism”? Or are they instead caused by capitalism’s surprising failure…” Link

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Fighting Corruption Won’t End Poverty

Fighting Corruption Won’t End Poverty. Ricardo Hausmann, July 24, 2015, Opinion, “Countries are poor because governments are corrupt. And, unless they ensure that public resources are not stolen, and that public power is not used for private gain, they will remain poor, right?  It certainly is tempting to believe so. Here, after all, is a narrative that neatly aligns the promise of prosperity with the struggle against injustice. As Pope Francis said on his recent trip to Latin America: ‘corruption is the moth, the gangrene of a people.’ The corrupt deserve to be ‘tied to a rock and cast into the sea.’ Perhaps they do. But that won’t necessarily make their countries more…” Link

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