According the latest Global Economic Prospects Report the world economy will strengthen in 2014. Much of the initial acceleration will reflect a pick-up in high income country growth, which after years of extreme weakness and outright recessions, appear to be finally emerging from the global financial crisis.
Good news for “third world” countries! Well, at least many of them.
I’m curious to know how long the terms “third world” and “developing world” will last, once more and more countries achieve what countries like South Korea has.
After months of reporting and thousands of miles of travel, our T-shirt project is live. Check it out: planetmoney.com/shirt.
Thanks to everyone who ordered a shirt and followed us along the way. Please accept these four gifs as a small token of our gratitude.
1. The cotton for our shirts came from the Mississippi Delta.
2. It was spun into yarn in factories in Indonesia (men’s shirt) and Colombia (women’s shirt).
3. The yarn was knitted into fabric, dyed and sewn in Bangladesh (men’s shirt) and Colombia (women’s shirt).
4. The shirts were printed in Brooklyn.
P.S. If you want a second-generation Planet Money T-shirt, you can buy one here.
I’ve been following this since the beginning (and waiting for my t-shirt to arrive). And I’m definitely using this in my Politics of the Developing World class next semester.
The basic economic foundations of industrial capitalism as we’ve known them for the past 150 years or so have an activist state at their core…. the intuition that there’s some coherent account of what the ‘market distribution’ would be absent public policy is mistaken. You have policy choices all the way down.
Yes. It’s important to remember that capitalism (and the whole idea of “free markets” as we understand them) were only made possible with the emergence of modern states. States provide not only the security & stability necessary for markets, they also provide (at public expense) the basic infrastructure, jobs training (public education), the legal structure that protects property rights and enforce contracts, and more. To admit that doesn’t make someone a socialist or a proponent of interventionism.
But ignoring that reality makes one underestimate the fragility of capitalism and markets. There’s a reason why economic growth is steady and constant (minus the odd recession here and there) in Sweden, but not in Somalia.