Nearly every time there is a news story about the billions of dollars flowing to poor countries as remittances, someone worries that not “enough” of that money is being saved and invested. A case in point is today’s piece in the Washington Post. Latin American workers in the US will send home $45 billion this year, but “only a small portion … has gone to economic development.”
CGD Policy Blogs
In the days preceding the October 17th United Nations International Day for the Eradication of Poverty we have seen the launch of PRODUCT (RED) in America, led by Bono and Bobby Shriver to engage American corporations and consumers in the fight against HIV/AIDS, and “Stand Up Against Poverty,”a worldwide effort to set a Guinness World Record for the most people literally “standing up” against poverty.
President Chirac's proposal for a global air travel ticket tax to fund development seemed unlikely to fly less than a year ago, especially in America (where any new "tax" is taboo). (See the Jan. 2005 CGD event Innovative Development Finance Mechanisms: The Pros and Cons of the International Tax Plan for slides and the original proposal).
When New York City Mayor Bloomberg’s anti-poverty commission recommended this week that the city pay poor people to send their kids to school and keep up-to-date on immunizations, the idea had an oddly familiar ring to it.
The New York Review of Books' Aid: Can it Work? is a wide-ranging review of Bill Easterly's recent book The White Man's Burden: Why the West's Efforts to Aid the Rest Have Done So Much Ill and So Little Good (Easterly discussed his book at a CGD event last March, transcript available.) M
Hat Tip to the PSD Blog for an intriguing story that the mainstream media almost entirely missed today. The president of McDonald's Europe announced in Brussels plans to issue European McDonald's employees a "McPassport" -- a new type of document that could greatly increase the labor mobility of its 225,000 European employees. Christine Bowers at PSD Blog writes:
Doubling the Global Workforce: The challenge of integrating China, India and the former Soviet Bloc into the World Economy
Richard B. Freeman from Harvard University and NBER Centre for Economic Performance, London School of Economics gave a presentation on the expanding global workforce on November 8.