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Carnegie Endowment for International Peace Source: Getty Summary:  Many African countries have placed economic diversification high on the policy agenda, yet they first need to define what it means in their specific structural and socioeconomic contexts. Related Media and Tools If you enjoyed reading this, subscribe for more! Thank you! Summary For decades, economic diversification has been a policy priority for low- and middle-income economies. In the words of former managing director of the International Monetary Fund (IMF), Christine Lagarde, “We know that economic diversification is go...

In my previous Monday Opinion, I argued wheat can be a wonder crop that can deliver gains at different points despite continued neglect in policy and practice. I ended on an optimistic note that sector related bottlenecks vis a vis wheat can be addressed through a review of the sector, highlighting where government Kwachas can effectively be invested beyond traditional crops. In this feature, I explore various steps that can help to lay preconditions for the agriculture sector more broadly and for the wheat sub-sector to take-off. What I offer is not a comprehensive list, neither is it presen...

Money Marketeers of New York University Webinar New York, NY For delivery on Tuesday, April 15, 2021 2:00 P.M. EDT Introduction I grew up in Missouri surrounded by three rivers. Nearly every spring, at least one of them would flood. Each time this happened, families, businesses, and sometimes whole communities, would be forced to higher ground until the water receded and returned to its banks. Public programs were there to assist. Teams helped people evacuate, temporary shelters were stood up overnight, and financial support was provided for repairs and rebuilding. By many measures, these...

Lessons From History, Policy For Today -- this post authored by Mary C. Daly Today’s economic challenges are different from the past, and it’s important to learn from history to achieve a better economic future for everyone. As the economy recovers from the effects of COVID-19, the Fed’s new policy framework retains vigilance against inflation while committing to not pull back the reins on the economy in response to a strong labor market. The following is adapted from a virtual webinar by the president and CEO of the Federal Reserve Bank of San Francisco to the Economic Club of New York...

Economic Club of New York Virtual Webinar New York, NY For delivery on Tuesday, March 2, 2021 2:00 P.M. EST Introduction In February of last year, right before COVID-19 hit our shores, I was in Ireland. Walking around Dublin one day, I happened upon a converted warehouse with artists selling their work. One of the artists had a wall of beautifully colored, tiny framed prints. Each one was etched with the phrase “History Will Repeat Itself” followed by an arrow pointing to the future. It seemed a pessimistic, almost fatalistic view, so I asked him if he had painted it out of prophecy o...