Found 133 article(s) for author 'Ricardo Hausmann'

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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The Education Myth

The Education Myth. Ricardo Hausmann, May 31, 2015, Opinion. “In an era characterized by political polarization and policy paralysis, we should celebrate broad agreement on economic strategy wherever we find it. One such area of agreement is the idea that the key to inclusive growth is, as then-British Prime Minister Tony Blair put in his 2001 reelection campaign, “education, education, education.” If we broaden access to schools and improve their quality, economic growth will be both substantial and equitable…Link

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New Growth Projections Predict the Rise of India, East Africa and Fall of Oil Economies

New Growth Projections Predict the Rise of India, East Africa and Fall of Oil Economies. Ricardo Hausmann, May 7, 2015, Paper. “South Asia and East Africa top the list, while oil-driven economies face the sharpest fall in new growth projections and rankings of productive dynamism for 128 countries, as presented by researchers at the Center for International Development at Harvard University (CID). Using their own measure of economic complexity that captures the productive capabilities embedded in a country’s exports, CID researchers paint a new picture of the economic growth landscape, which foresees growth in emerging markets to continue to outpace developed countries. They also predict important reversals among growth leaders, with India expected to overtake China.” Link

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Moving to the Adjacent Possible: Discovering Paths for Export Diversification in Rwanda

Moving to the Adjacent Possible: Discovering Paths for Export Diversification in Rwanda. Ricardo Hausmann, May 2015. “How can Rwanda, which currently has one of the lowest levels of income and exports per capita in the world, grow and diversify its economy in presence of significant constraints? We analyze Rwanda’s historical growth and trade performance and find that Rwanda’s high transportation costs and limited productive knowledge have held back greater export development and have resulted in excessive rural density. Three basic commodities–coffee, tea, and tin–made up more than 80 percent of the country’s exports through its history and still drive the bulk of export growth today...” Link

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Secular Stagnation for Free

Secular Stagnation for Free. Ricardo Hausmann, March 27, 2015, Opinion. “Something is definitely rotten in the state of capitalism. Despite unprecedentedly low interest rates, investment in most advanced countries is significantly below where it was in the years prior to the 2008 crisis, while employment rates remain stubbornly low. And even investment in the pre-crisis period was unimpressive, given low prevailing interest rates. For some reason, achieving a level of investment that would generate full employment seems to require negative real (inflation-adjusted) interest rates, which is another way of saying that people have to be paid to invest…” Link

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Secrets of Economic Growth | Ricardo Hausmann

Secrets of Economic Growth | Ricardo Hausmann. Ricardo Hausmann, March 10, 2015, Video. “Economic Complexity is like a game of Scrabble, says Ricardo Hausmann. The more letters you have, the more words you can make; the more capabilities a country has, the more diverse products it can generate. In this video for the World Economic Forum Hausmann, from the Harvard Kennedy School of Government, uses metaphors and metrics to explain the gap between rich and poor countries.” Link

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Redistribution or Inclusion?

Redistribution or Inclusion? Ricardo Hausmann, January 30, 2015, Opinion. “The issue of rising income inequality loomed large at this year’s World Economic Forum in Davos. As is well known, the United States’ economy has grown significantly over the past three decades, but the median family’s income has not. The top 1% (indeed, the top .01%) have captured most of the gains, something that societies are unlikely to tolerate for long. Many fear that this is a global phenomenon with similar causes everywhere, a key claim in Thomas Piketty’s celebrated book ‘Capital in the Twenty-First Century.’ But this proposition may be dangerously…” Link

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