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PRINCETON — The late, sharp-witted economist Michael Mussa, my first boss at the International Monetary Fund, once told me that every statistic must pass the “smell test”. I recalled this sage advice recently when Indian authorities published the first driblets of a consumption survey in over a decade. The numbers stink.
PRINCETON — The late, sharp-witted economist Michael Mussa, my first boss at the International Monetary Fund, once told me that every statistic must pass the “smell test”. I recalled this sage advice recently when Indian authorities published the first driblets of a consumption survey in over a decade. The numbers stink.
The World Bank management’s Evolution Roadmap suggests the institution is reconsidering its ‘twin goals’ mission statement of eradicating extreme poverty (ending $2.15 poverty by 2030) and boosting shared prosperity (raising the incomes of the bottom 40 percent in each country).
This story was originally published on November 9, 2020. The principle of inclusive economic growth, holistic strategies aimed at helping all income groups prosper, is appealing in concept to state Sen. Saud Anwar, a physician for the past 25 years. But in practice in Connecticut, it sometimes amounts to offering medicine to an asthmatic child trapped in a moldy, run-down apartment and hoping for the best. Medicine generally is helpful, but if offered within an overwhelmingly negative climate — one that’s unlikely to change — the prospects for measurable improvement are slim. “I can w...