If I care about poverty, I have to care a lot about investments in the private sector. The private sector creates the vast majority of jobs in the world, and social protection only goes so far.
Interpretation
Addressing poverty requires a focus on private sector investment, as it is crucial for job creation.
Jim Yong Kim emphasizes the importance of the private sector in alleviating poverty. While social protection measures play a role, the majority of jobs, and thus economic opportunities, are generated by private enterprises. Therefore, to effectively combat poverty, it is essential to prioritize and invest in private sector growth.
In practice
In a keynote speech about economic policy, one might reference this quote to highlight the need for private sector investment.
If we do not act to curb climate change immediately, we will leave our children and grandchildren an unrecognizable planetIt is the poor, those least responsible for climate change and least able to afford adaptation, who would suffer the most.
We will never end poverty if we don't tackle climate change.
If you look at three diseases, the three major killers, HIV, tuberculosis and malaria, the only disease for which we have really good drugs is HIV. And it's very simple: because there's a market in the United States and Europe.
My father came by himself across the North Korean border when he was seventeen. And hasn't seen his brothers or sisters or parents since then. And he died some time ago, but never saw any of his relatives. My mother was a refugee in war-torn Korea.
Economic development and poverty alleviation are so complicated that I don't think there's a single background or a single discipline that is sufficient to tackle these great human problems.
One of the most important things about leadership is that you have to have the kind of humility that will allow you to be coached.
The trouble with the profit system has always been that it was highly unprofitable to most people.
The big bankers of the world, who practise the terrorism of money, are more powerful than kings and field marshals, even more than the Pope of Rome himself. They never dirty their hands. They kill no-one: they limit themselves to applauding the show.
There is always some chance of recession in any year. But the evidence suggests that expansions don't die of old age.
The economic expansion that began in 2001, while it has been great for corporate profits, has yet to produce any significant gains for ordinary working Americans. And now it looks as if it never will.
No nation was ever ruined by trade.
The forgotten man at the bottom of the economic pyramid.
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