Sublime

This book is about the role of interest in a modern economy. It was inspired by a Bastiat-like conviction that ultra-low interest rates were contributing to many of our current woes, whether the collapse of productivity growth, unaffordable housing, rising inequality, the loss of market competition or financial fragility. Ultra-low rates also seeme

le Donut économie intégrée des humains sociaux et adaptables complexité dynamique distributif par dessein régénératif par dessein agnostique en matière de croissance

The risk borne by the poor is thus not only costly once a shock hits: The fear that something bad might happen has a debilitating effect on poor people’s ability to fully realize their potential.

simply told parents about the average income gains from spending one more year in school for children from backgrounds similar to theirs had a sizable positive effect on test scores,

Ministry of Finance started giving the main national newspapers (and their local-language editions) month-by-month information about how much money had been sent to the districts for the schools.

Exploitation. Now, there’s a word that has been scrubbed out of the poverty debate.42 It is a word that speaks to the fact that poverty is not just a product of low incomes. It is also a product of extractive markets. Boosting poor people’s incomes by increasing the minimum wage or public benefits, say, is absolutely crucial. But not all of those e