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We need to stop talking about refugees as if they are burden to be shared. Refugees benefit both economy and the community—and if we invested more and better in giving them a good start, they would be able to make an even bigger contribution. Here we suggest innovative finance mechanisms to pay for that investment without putting pressure on public finances, instead enabling refugees to develop and apply their skills, integrate effectively, and improve their overall contribution.
Demonetization is yesterday’s news. The India of today is going full steam ahead towards a digital economy powered by financial inclusion, the mobile revolution, and Aadhaar—the biometric ID system that now covers 90 percent of its 1.3 billion population. And the social compact of the future will restructure subsidies and provide a basic income for the poor.
When people hear that a foreign aid program is paying for results, they can think about it in two very different ways. Some people think that paying for results is a way to control recipients, making them more strictly accountable to the people or organizations that are paying them. Others think that paying for results is a way to give recipients more autonomy and encourage them to be accountable to their beneficiaries (in the case of service providers) or their constituents (in the case of governments). It turns out that both perspectives are right—depending on just how the program that pays for results is designed.