In the early 1800s, the Prussian scientist and explorer Alexander von Humboldt wandered the streets of Latin America and wrote of his astonishment at the misery and wealth; the "nakedness" and the “luxury", the "immense inequality of fortune." Today, that image of inequality endures. The region, along with Sub-Saharan Africa, is the most unequal in the world. But things are … [Read more...] about Latin America: The Story Behind Falling Inequality
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The FinTech Boom: China vs Latin America
Over the last five years, a new wave of upstarts has burst the confines of traditional finance. These are far from the hallowed institutions of classical pillars and marble. Rather they are children of Silicon Valley, exploiting the latest in digital technologies to offer everything from online shopping and payments to lending and wealth management. Known collectively as … [Read more...] about The FinTech Boom: China vs Latin America
Behavioral Economics and the Messaging That Works
"Nothing can be said to be certain, except death and taxes," said the United States' Benjamin Franklin. And few things are less pleasurably anticipated. But at least when it comes to taxes, the avoidance can make running a government especially hard. Behavioral economics, with its psychological insights into how information can be used to change citizens’ beliefs and … [Read more...] about Behavioral Economics and the Messaging That Works
For Latin American Learning, Money Isn’t the Problem
Does greater spending on education boost learning? Educators and policymakers worldwide have debated that question for years. When it comes to Latin America and the Caribbean, however, one thing seems clear: Money may help; it may even be crucial, but it is never enough. Latin American and Caribbean governments have made immense efforts to increase spending, dedicating on … [Read more...] about For Latin American Learning, Money Isn’t the Problem
How Nobel Ideas Inspired the IDB
Richard Thaler, the University of Chicago professor who fused psychological insights and economics to reveal how biases affect decision-making, was awarded Oct. 8 the 2017 Nobel Prize in economics. The award, which recognizes Thaler's work in overturning assumptions about economic behavior as rational and demonstrating how people could be "nudged" to make better choices, … [Read more...] about How Nobel Ideas Inspired the IDB