Prof. Sachs, author of the new book Common Wealth: Economics for a Crowded Planet talks about how to address the fact that one-sixth of the world remains trapped in extreme poverty, now made much worse by the global financial meltdown.
Townsend on Development, Poverty, and Financial Institutions | EconTalk | Library of Economics and Liberty
Robert Townsend of MIT and the Consortium on Financial Systems and Poverty talks with EconTalk host Russ Roberts about development and the role of financial institutions in growth. Drawing on his research, particularly his surveys of households in Thailand, Townsend argues that both informal networks and arrangements and formal financial institutions play important roles in dealing with risk. Along the way, he discusses the role of microfinance in poor countries and the potential for better financial arrangements to lead to higher growth and the accumulation of wealth.
http://rushkoff.com/videoaudio/richard-metzger/ Opening subject: Counterculture and Financial meltdown Guest: Richard Metzger