Can the world end extreme poverty? | Brookings Institution

This article from leading think-tank, Brookings Institution is a recommended read. Check it out!

via Can the world end extreme poverty? | Brookings Institution

Personally, much as I support the concept, I struggle with the reality of ending poverty. There are too many corrupt politicians and bureaucrats in the World. Even international institutions, like the UN agencies, have allowed themselves to be marginalized because they have become biased in favor of specific political interest groups. Major charities too are not all white – I question the percentage of aid money that reaches the needy, versus the percentage that is lost in ‘administration’.

Everywhere, we see powerful people ready to put their own interests first. However, I commend Brookings for raising the awareness with the debate and publication of its latest.


Opinion – The cult of home ownership is dangerous and damaging – Adam Posen – – Best Blogs Series

This was originally posted in July 2013.

With the UK about to go to a national election it seemed to be timely to revisit the ‘cult of home ownership’. It’s important to remember that the UK’s economic growth was kick-started on the back of government guarantees to first time home-buyers.

Over the last for years, on this blog, John Gelmini and myself have been consistently critical of David Cameron’s government’s absence of cohesive strategy. Without strategy surely the pieces will come crashing down?



This is an excellent, MUST READ article by Adam Posen, president of the Peterson Institute for International Economics and is published in the FT.

via The cult of home ownership is dangerous and damaging –

The article highlights the risks at both the individual and national level of the home ownership cult, especially in the US and the UK.

These days, home ownership favors the wealthy and inherited wealth. The article cites latest research in the US that home ownership impacts mobility and aggravates unemployment. The financial crisis started in the US in 2008, and was triggered by sub-prime mortgages supporting home loans to the less advantaged. Now, once again, the big US banks are booming, and both the US and the UK governments are propping up the housing market.

Surely, the UK Government should be subsidizing language training rather than mortgage finance, and encouraging more people to go overseas to the likes of Germany where jobs are more plentiful?

Any thoughts?