Ideas to Action:

Independent research for global prosperity

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January 1, 2002

Inequality Does Cause Underdevelopment - Working Paper 1

This paper argues that the conflicting results in the voluminous recent literature on inequality and growth are missing the big picture on inequality and long-run economic development. While finding some evidence consistent with other development fundamentals, the paper finds high inequality to independently be a large and statistically significant barrier to developing the mechanisms by which prosperity is achieved.

Cover of Washington Contentious: Economic Policies for Social Equity in Latin America
January 1, 2001

Washington Contentious: Economic Policies for Social Equity in Latin America

At the end of the 1990s the future of Latin America seemed grim in the face of four devastating problems—slow and unsteady economic growth, persistent poverty, social injustice, and personal insecurity. For 10 years Latin America had pursued—with considerable vigor—the 10 economic policies that make up the Washington Consensus, the growth formula promoted by the U.S. Treasury and the international financial institutions. But performance fell far short of expectations, and a new approach was needed.

Nancy Birdsall , Augusto de la Torre and Rachel Menezes

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