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.
In reality there is no such thing as an inflation of prices, relatively to gold. There is such a thing as a depreciated paper currency.
That economic decisions are made without certain knowledge of the consequences is pretty self-evident. But, although many economists were aware of this elementary fact, there was no systematic analysis of economic uncertainty until about 1950.
Americans are in a cycle of fear which leads to people not wanting to spend and not wanting to make investments, and that leads to more fear. We'll break out of it. It takes time.
One of the evils of paper money is that it turns the whole country into stock jobbers. The precariousness of its value and the uncertainty of its fate continually operate, night and day, to produce this destructive effect. Having no real value in itself it depends for support upon accident, caprice, and party; and as it is the interest of some to depreciate and of others to raise its value, there is a continual invention going on that destroys the morals of the country.
Just as we should never balance the budget on the backs of the poor, so it is an economic delusion to think you can balance it only on the wallets of the rich.
In time of peace there can, at all events, be no justification for the creation of a permanent debt by the Federal Government. Its limited range of constitutional duties may certainly under such circumstances be performed without such a resort.
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