Globalisation, for me, seems to be not first-order harm, and I find it very hard not to think about the billion people who have been dragged out of poverty as a result.
Angus DeatonRead
Economic growth is very important, but it is not the only thing, and it must be accompanied by sharing with those who are left behind, through effective social services and provision.
Interpretation
Economic growth is essential, but it should also focus on helping those who are disadvantaged.
This quote emphasizes that while economic growth is vital for a society's advancement, it should not be the sole focus. True progress should also consider those who are marginalized or 'left behind', advocating for the provision of social services and support that ensure equitable sharing of resources and opportunities.
In practice
During a community meeting discussing local policies, this quote can be used to advocate for equitable resource distribution.
Globalisation, for me, seems to be not first-order harm, and I find it very hard not to think about the billion people who have been dragged out of poverty as a result.
My work shows how important it is that independent researchers should have access to data so that government statistics can be checked and so that the democratic debate within India can be informed by the different interpretations of different scholars.
The free market is not only a more efficient decision maker than even the wisest central planning body, but even more important, the free market keeps economic power widely dispersed.
THE CORRECTION, when it finally came, was not an overnight bursting of a bubble but a much more gentle letdown, a year-long leakage of value from key financial markets, a contraction too gradual to generate headlines and too predictable to seriously hurt anybody but fools and the working poor.
Political economy came into being as a natural result of the expansion of trade, and with its appearance elementary, unscientific huckstering was replaced by a developed system of licensed fraud, an entire science of enrichment.
All the perplexities, confusion and distress in America arise, not from defects in their Constitution or Confederation, not from want of honor or virtue, so much as from the downright ignorance of the nature of coin, credit and circulation.
It is better that a man should tyrannize over his bank balance than over his fellow-citizens.
Our economy is the result of millions of decisions we all make every day about producing, earning, saving, investing, and spending.
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