The Policy Monitor
The battle against global poverty has been going on for decades now and has been a topic of debate amongst various personalities including politicians and celebrities. Yet, as we all know, the problem remains. The book, ‘Poor Economics’ by Abhijit V. Banerjee and Esther Duflo, tries to explain a few reasons as to why the problem seems to be ubiquitous, especially in third world countries.
If GDP is the factor that led to national happiness, then prosperous economies of China, USA and India would have occupied the top positions in the WHR 2018. Thus, there are some other factors other than financial prosperity that lead to the happiness of the Nordic countries such as Denmark, Finland, Iceland, Norway and Sweden.
The International Monetary Fund has lowered its global economic growth forecast for the fourth time in nine months as the risks still remain to the ‘downside’. According to World Economic Outlook (WEO) Update July 2019, global growth for 2019 is projected at 3.2 per cent and picking up to 3.5 per cent in 2020.