Investing in infrastructure is crucial for a country’s economic performance and growth prospects. In fact, it not only can make a difference in people’s everyday lives by providing better roads and schools, but it can actually save lives. During the last decade, Chile and Haiti provided two contrasting examples of this in the face of earthquakes due to their different levels of … [Read more...] about What Does Saving Have to Do with Resilience to Natural Disasters?
Social Issues
Take Obama’s Advice on Climate Change: Droughts Are Hurting Latin America
After his visit to Argentina last week, Barack Obama posted on Facebook a picture of a beautiful landscape in Patagonia where he went trekking along glacial lakes, as an example of what he called “exactly the kind of place we need to protect for our kids, and for their kids.” Climate change is high on the American president’s agenda and it’s an issue with consequences that are … [Read more...] about Take Obama’s Advice on Climate Change: Droughts Are Hurting Latin America
Fighting the Spending Demon
We buy everything we crave at the supermarket; purchase the latest electronic gizmos the minute they appear; and download movies on the internet with abandon. Then we wonder why we have no money for a new car or savings for retirement. What in the world is wrong with us? The truth is that we aren't as morally weak as we think. Science shows that many of us are genetically wired … [Read more...] about Fighting the Spending Demon
Adjusting to Shocks to Protect the Region’s Future
Commodity prices are falling or are at their lowest point in years. The demographic boom is fading. Debts are on the rise, and many currencies have undergone sharp depreciations. What does all this mean for Latin America and the Caribbean? Our 2016 Macroeconomic Report Time to Act looks at some of the critical issues facing countries in the region. It explores the fiscal … [Read more...] about Adjusting to Shocks to Protect the Region’s Future
How the Rich Can Help Poor Countries
It's not always easy to be a billionaire. In the United States, resentment against the top 1%, with their immense share of national income, helped spur the Occupy Wall Street movement and its slogan "We are the 99%." And that resentment is even more intense for the one-tenth of 1% who are on the Forbes 400 list of wealthiest Americans and earn more than millions of families … [Read more...] about How the Rich Can Help Poor Countries