International Bank for Reconstruction and Development The International Bank for Reconstruction and Development (IBRD) is an international financial institution that offers loans to middle-income developing countries. The IBRD is the first of five member institutions that compose the World Bank Group, and is headquartered in Washington, D.C. in the United States. It was established in 1944 with the mission of financing the reconstruction of European nations devastated by World War II. The IBRD is owned and governed by its member states, but has its own executive leadership and staff which conduct its normal business operations. History[edit] The International Bank for Reconstruction and Development (IBRD) and International Monetary Fund (IMF) were established by delegates at the Bretton Woods Conference in 1944 and became operational in 1946.[4] The IBRD was established with the original mission of financing the reconstruction efforts of war-torn European nations following World War II, with goals shared by the later Marshall Plan.
Looking for a place to invest? - PSD Blog - The World Bank Group Sri Lanka conjures up different images in the minds of different people: lush green tropical canopies, steaming cups of aromatic tea, and hardworking fishermen in their dinghy boats. For me, the country also packs enormous promise for growth and development. There is not the slightest doubt that Sri Lanka will have to come clean and deal with the aftermath of its prolonged civil war. However, at a fundamental level, there is a sense of hunger in its people to rebuild their lives and their country. Sri Lanka already holds a strong position in certain agricultural and industrial exports, like tea or uncut diamonds. I recently spoke at an event organized by the country’s top business newspaper, the Daily Financial Times, in partnership with the well-regarded Colombo University MBA Alumni Association. The euphoria leading up to the event was palpable.
Kuznets curve Hypothetical Kuznets curve. Empirically observed curves aren't smooth or symmetrical—see reference[1] for examples of "real" curves. In economics, a Kuznets curve graphs the hypothesis that as an economy develops, market forces first increase and then decrease economic inequality. One explanation of such a progression suggests that early in development investment opportunities for those who have money multiply, while an influx of cheap rural labor to the cities holds down wages. The Kuznets curve implies that as a nation undergoes industrialization – and especially the mechanization of agriculture – the center of the nation’s economy will shift to the cities. Kuznets curve diagrams show an inverted U curve, although variables along the axes are often mixed and matched, with inequality or the Gini coefficient on the Y axis and economic development, time or per-capita incomes on the X axis. Kuznets ratio[edit] Kuznets had two similar explanations for this historical phenomenon:
Time Machine ISS TRANSIT OF VENUS: High above Earth, astronaut Don Pettit is about to become the first human to witness and photograph a transit of Venus from space. His images and commentary will be streamed to Earth during the crossing. [full story] [video] VENUS PASSES MERCURY, APPROACHES THE SUN: Venus is approaching the sun in advance of the June 5th Transit of Venus. From here on Earth, the second planet has become difficult to see wrapped in bright sunlight. The Solar and Heliospheric Observatory, however, has no such trouble. A 24-hour movie shows that Mercury is exiting stage left as Venus plunges deeper into sunlight. Amateur astronomers who manage to locate Venus in broad daylight will find that the planet has turned into a delightfully slender crescent. The crescent could soon become a ring. Keep an eye on SpaceWeather's realtime photo gallery to see how Venus shape-shifts in the days ahead: On June 2, 2012 there were 1293 potentially hazardous asteroids.
International Monetary Fund The International Monetary Fund (IMF) is an international organization headquartered in Washington, D.C., of "188 countries working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world."[1] Formed in 1944 at the Bretton Woods Conference, it came into formal existence in 1945 with 29 member countries and the goal of reconstructing the international payment system. Functions[edit] According to the IMF itself, it works to foster global growth and economic stability by providing policy, advice and financing to members, by working with developing nations to help them achieve macroeconomic stability and reduce poverty.[8] The rationale for this is that private international capital markets function imperfectly and many countries have limited access to financial markets. The IMF's role was fundamentally altered by the floating exchange rates post-1971.
International Finance Corporation (IFC) Home Welfare economics Welfare economics is a branch of economics that uses microeconomic techniques to evaluate well-being (welfare) at the aggregate (economy-wide) level.[1] A typical methodology begins with the derivation (or assumption) of a social welfare function, which can then be used to rank economically feasible allocations of resources in terms of the social welfare they entail. Such functions typically include measures of economic efficiency and equity, though more recent attempts to quantify social welfare have included a broader range of measures including economic freedom (as in the capability approach). The field of welfare economics is associated with two fundamental theorems. Attempting to apply the principles of welfare economics gives rise to the field of public economics, the study of how government might intervene to improve social welfare. Measuring social welfare[edit] Cardinal utility[edit] The early Neoclassical approach was developed by Edgeworth, Sidgwick, Marshall, and Pigou.
Before I Die What matters most to you Interactive public art project that invites people to share their personal aspirations in public. After losing someone she loved and falling into depression, Chang created this experiment on an abandoned house in her neighborhood to create an anonymous place to help restore perspective and share intimately with her neighbors. The project gained global attention and thanks to passionate people around the world, over 1000 Before I Die walls have now been created in over 70 countries, including Kazakhstan, Iraq, Haiti, China, Ukraine, Portugal, Japan, Denmark, Argentina, and South Africa. 2011, New Orleans, LA. Cordoba, Argentina. Najaf, Iraq. Brooklyn, NY. Almaty, Kazakhstan Savannah, GA. Pohang City, South-Korea. San Francisco, CA. Johannesburg, South Africa. Cordoba, Argentina.
Bank for International Settlements The Bank for International Settlements (BIS) is an international financial institution[2] owned by central banks which "fosters international monetary and financial cooperation and serves as a bank for central banks".[3] The BIS carries out its work through its meetings, programmes and through the Basel Process – hosting international groups pursuing global financial stability and facilitating their interaction. It also provides banking services, but only to central banks and other international organizations. It is based in Basel, Switzerland, with representative offices in Hong Kong and Mexico City. History[edit] BIS main building in Basel, Switzerland The BIS was established in 1930 by an intergovernmental agreement between Germany, Belgium, France, the United Kingdom, Italy, Japan, the United States, and Switzerland.[4][5] It opened its doors in Basel, Switzerland, on 17 May 1930. The BIS's original task of facilitating World War I reparation payments quickly became obsolete.
Home :: Grameen-Jameel Industrialisation Period of social and economic change from agrarian to industrial society. Industrialisation (UK) or industrialization (US) is the period of social and economic change that transforms a human group from an agrarian society into an industrial society. This involves an extensive reorganisation of an economy for the purpose of manufacturing.[2] Industrialization is associated with increase of polluting industries heavily dependent on fossil fuels. With the increasing focus on sustainable development and green industrial policy practices, industrialization increasingly includes technological leapfrogging, with direct investment in more advanced, cleaner technologies. The reorganization of the economy has many unintended consequences both economically and socially. Background[edit] The first transformation from an agricultural to an industrial economy is known as the Industrial Revolution and took place from the mid-18th to early 19th century. Social consequences[edit] Urbanisation[edit]
Harry Dexter White American economist and spy (1892–1948) Harry Dexter White (October 29, 1892 – August 16, 1948) was a senior U.S. Treasury department official. Working closely with the Secretary of the Treasury Henry Morgenthau Jr., he helped set American financial policy toward the Allies of World War II. He was later accused of espionage by passing information to the Soviet Union,[1] an allegation which was confirmed after his death. He was a senior American official at the 1944 Bretton Woods Conference that established the postwar economic order. White was accused in 1948 of spying for the Soviet Union, which he adamantly denied. Harry Dexter White was born on October 29, 1892, in Boston, Massachusetts, the seventh and youngest child of Jewish Lithuanian immigrants, Jacob Weissnovitz (or Weit) and Sarah Magilewski, who had settled in the US in the 1880s. Treasury Department [edit] Bretton Woods Conference Accusations of espionage Chambers accusations 1939, 1945, 1948 In Spring 1948, Truman aide Stephen J.
Grameen Foundation It is separate from organizations called "Grameen Foundation" in different countries, such as Grameen Foundation Australia.[citation needed] History[edit] The Foundation was founded in 1997 to facilitate the expansion of banks modeled after the Grameen Bank beyond the borders of Bangladesh and increase the access of poor people to microfinance by millions worldwide. Muhammad Yunus, the founder and managing director of Grameen Bank, sits on the Board of Directors. Current chair of the board is Paul Maritz, CEO of VMWare and formerly a senior executive at Microsoft. Programs[edit] Rather than directly administering microfinance programs, Grameen Foundation provides funds and technical assistance to local and regional microfinance institutions (MFIs) and other poverty-focused organizations. Working with local and global allies, Grameen Foundation also develops and distributes mobile phone-based applications to help the poor to better manage: Trivia[edit] References[edit] Further reading[edit]
Tragedy of the commons Self-interests causing depletion of a shared resource The tragedy of the commons is a metaphoric label for a concept that is widely discussed, and criticised, in economics, ecology and other sciences. According to the concept, should a number of people enjoy unfettered access to a finite, valuable resource such as a pasture, they will tend to over-use it, and may end up destroying its value altogether. Even if some users exercised voluntary restraint, the other users would merely supplant them, the predictable result being a tragedy for all. The metaphor is the title of a 1968 essay by ecologist Garrett Hardin. As another example, he cited a watercourse which all are free to pollute. The principal concern of Hardin's essay was overpopulation of the planet. Some scholars have argued that over-exploitation of the common resource is by no means inevitable, since the individuals concerned may be able to achieve mutual restraint by consensus. Expositions[edit] Classical[edit] Application[edit]