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More than ever before in human history, our countries are linked in a complex economic framework which creates dependencies between all nations. In a privileged interview, Thought Economics speaks to Professor Wim…
In this article, we speak to Kristiina Rintakoski, Executive Director of the Crisis Management Initiative (launched by Nobel Prize winner President Martti Ahtisaari) about global conflict, its relationship with economic inequality, climate…
From the archive
Essentially, corruption entails a misallocation of entrepreneurial talent into activities that carries individual benefit, but has destructive or unproductive consequences for society at large. Because of its essentially predatory nature, it reduces productive investment, leads to an outflow of talent, lowering growth rates and increasing income inequalities.
— Wim NaudéTEST BIO
The countries that will grow fastest over the next few years will be those countries that have done the most during this past commodity and growth cycle to invest their gains in infrastructure and education and where the gains have been distributed is such a manner so that the middle class have been growing most substantially.
— Wim NaudéMonetary support for development in itself will not accelerate growth in the real economy to artificial or unsustainable levels. It is how the finance is used – or misused.
— Wim NaudéThe essence of the evolving global economic system is that all countries are dependent on one another in some way, and this includes finance. Emerging and developing countries are dependent on capital inflows from developed regions. But developed regions are also dependent on funds from the developing world!
— Wim NaudéMonetary support for development in itself will not accelerate growth in the real economy to artificial or unsustainable levels. It is how the finance is used – or misused.
— Professor Wim NaudéEconomics professor specializing in entrepreneurship, innovation, and development in Africa
The artificiality and unsustainability comes in when loans are made to customers who cannot repay those loans, and without sufficient regulatory control.
— Professor Wim NaudéEconomics professor specializing in entrepreneurship, innovation, and development in Africa
Consider for instance that the bulk of the world's foreign exchange reserves – trillions of dollars – are held by developing economies, and that the US runs a current account and budget deficit of astronomical proportions.
— Professor Wim NaudéEconomics professor specializing in entrepreneurship, innovation, and development in Africa
The essence of the evolving global economic system is that all countries are dependent on one another in some way, and this includes finance. Emerging and developing countries are dependent on capital inflows from developed regions. But developed regions are also dependent on funds from the developing world!
— Professor Wim NaudéEconomics professor specializing in entrepreneurship, innovation, and development in Africa
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