Tag Archives: development
Will the world eventually come to an equilibrium where all nations will be developed and everyone will be out of poverty?
My answer on Quora: In the United States, the preamble to the nation’s constitution begins with “We the people of the United States, in order to form a more perfect union…” The idea of “a more perfect union” underpins the ultimate goal of the nation as defined from its inception: to become more perfect with every generation, […]
Assuming all countries have the same rates, what is the optimal average tariff? Is it 0%, or does a small nominal rate produce better outcomes?
My answer on Quora: I do not believe there is such a thing as a common optimal tariff rate across countries. I also do not believe that a world with zero tariffs will produce better outcomes than having a range of country- and industry-specific tariffs (from zero to above zero). This is because countries differ […]
How does improving basic infrastructure enhance economic growth?
My answer on Quora: Basic infrastructure enhances economic growth in three broad ways: (1) by supporting the production of goods and services, (2) by connecting people to each other and to those goods and services, and (3) by helping people secure basic needs like food, clean water, housing, health care and quality education (a healthy […]
What is the difference between human and economic development?
My answer on Quora: When economic development is inclusive, the two can be thought to go hand in hand. This is largely because there is no precise definition of economic development. For example, take the Cambridge Dictionary’s definition: The process in which an economy grows or changes and becomes more advanced, especially when both economic and social […]
When is “good for the economy” not “good for the people”?
My answer on Quora: Let’s begin with a narrow view, then zoom out. With a very narrow view, I can think of an example or two, but they don’t amount to much. In the end, there is no durable example of something that is good for the economy but not good for the broad majority […]
Which is better, GDP or HDI?
“In my opinion the point of high GDP is to provide better life for people. That’s higher GDP should lead to Higher HDI, otherwise it is not real development. What is your view?” My answer on Quora: It does not strictly follow that higher GDP leads to higher HDI (Human Development Index). GDP is a […]