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Yesterday the New York Times profiled Lant Pritchett and sketched his proposal to create 16 million guest-worker jobs in rich countries for people from poor countries. His goal is to help people from very poor places make their lives better.
The Copenhagen Consensus Project recently asked a group of 24 UN ambassadors and other diplomats to prioritize a list of 40 global development interventions. The US was there. Their interesting report places heath and sanitation on top, with education and hunger somewhat lower. Trade, financial, and environmental policies received lowest priority, due in part to political infeasibility.
Nearly every time there is a news story about the billions of dollars flowing to poor countries as remittances, someone worries that not “enough” of that money is being saved and invested. A case in point is today’s piece in the Washington Post. Latin American workers in the US will send home $45 billion this year, but “only a small portion … has gone to economic development.”