If I care about poverty, I have to care a lot about investments in the private sector. The private sector creates the vast majority of jobs in the world, and social protection only goes so far.
Interpretation
Addressing poverty requires a focus on private sector investment, as it is crucial for job creation.
Jim Yong Kim emphasizes the importance of the private sector in alleviating poverty. While social protection measures play a role, the majority of jobs, and thus economic opportunities, are generated by private enterprises. Therefore, to effectively combat poverty, it is essential to prioritize and invest in private sector growth.
In practice
In a keynote speech about economic policy, one might reference this quote to highlight the need for private sector investment.
If we do not act to curb climate change immediately, we will leave our children and grandchildren an unrecognizable planetIt is the poor, those least responsible for climate change and least able to afford adaptation, who would suffer the most.
We will never end poverty if we don't tackle climate change.
If you look at three diseases, the three major killers, HIV, tuberculosis and malaria, the only disease for which we have really good drugs is HIV. And it's very simple: because there's a market in the United States and Europe.
My father came by himself across the North Korean border when he was seventeen. And hasn't seen his brothers or sisters or parents since then. And he died some time ago, but never saw any of his relatives. My mother was a refugee in war-torn Korea.
Economic development and poverty alleviation are so complicated that I don't think there's a single background or a single discipline that is sufficient to tackle these great human problems.
One of the most important things about leadership is that you have to have the kind of humility that will allow you to be coached.
We contend that for a nation to try to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle.
Customers often value a good more when its price goes up. One reason may be its signaling value. An expensive handcrafted mechanical watch may tell time no more accurately than a cheap quartz model; but, because few people can afford one, buying it signals that the owner is rich.
Economics has been incurably growth-oriented and addicted to everybody growing richer, even at the cost of exhaustion of resources and pollution of the environment.
The present tax codes inhibit the mobility and formation of capital, add complexities and inequities which undermine the morale of the taxpayer, and make tax avoidance rather than market factors a prime consideration in too many economic decisions.
Investing in women is smart economics, and investing in girls, catching them upstream, is even smarter economics.
Today, if you look at financial systems around the globe, more than half the population of the world - out of six billion people, more than three billion - do not qualify to take out a loan from a bank. This is a shame.
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