|Published by||Chris Watkins|
|License||CC BY-SA 4.0|
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|Cite as "What works in economic development". Appropedia. 2021. Retrieved 2021-07-24.|
John Kenneth Galbraith'sW The Nature of Mass PovertyW make a number of suggestions not often heard in economic debate. A key idea in the book is breaking what Galbraith calls "accommodation," i.e. breaking the expectations that people have about the way things are, will be and are meant to be. Ways this happens on a large scale are education, emigration, even transport (such as a train system in a part of India - Punjab?) which brought change and outside influences.
Adjustment and financial reform[edit | edit source]
World Bank and IMF policies have financial growth and stability of poor nations among their key stated aims, but they are widely accused of doing the opposite. During the 1998 Asian monetary crisis their actions were widely perceived as inappropriate, a standard solution for one set of problems applied to a very different set of problems.
the World Bank's own researchers found that "globalization appears to increase poverty and inequality...The costs of adjusting to greater openness are borne exclusively by the poor, regardless of how long the adjustment takes" (The Simultaneous Evolution of Growth and Inequality - 1999).[verification needed]