31 October, 2020

"Growth Is Never Uniform"

The chief economist and vice-president of the World Bank on his motto 'growth with equity' and India

Jitender Gupta
"Growth Is Never Uniform"
outlookindia.com
-0001-11-30T00:00:00+05:53
After the controversial Joseph Stiglitz and the brilliant Nicholas Stern, a relatively unknown French researcher rises from the ranks to the coveted post of chief economist and vice-president of the World Bank. But Francois Bourguignon has his heart in the right place. He emphasises that his motto is 'growth with equity'. And yes, he'd put his money on India in the future. Excerpts from an interview with Paromita Shastri:

Bank studies have found that while global per capita income has increased, inequalities have also sharpened despite liberalisation and globalisation. Why?
If you say that globalisation has increased the inequality in the world, then you have to be sure how you define inequality. This is a difficult debate. In terms of countries, if you compare the US, Switzerland, India, Benin, etc, giving them equal weight, without doubt, world inequality has increased. If you look at the richest countries and the poorest countries, then the distance between them has indeed grown. But if you compare countries which are more or less equal, like China and...
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