Kaushik Basu
speaker
19 appearances
2 recordings
1 series
first heard May 2014
last heard May 2014
Kaushik Basu’s voice in public audio — every appearance, attributed to the second.
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Appearances
When you're looking at the poorest people in a country, they may have a consumption pattern which is very, very different from the average person's consumption in that country.
And so the price index constructed by taking the average of what is consumed in the country may not be relevant for the poor.
Since in poor people's consumption basket, a disproportionate amount is spent on food.
If food prices go up, that might mean a lot for the poor.
So we cannot use the PPP numbers that we've just got.
apply that to the poor and say, look, poor people are much better off now and poverty has gone down.
The World Bank has set itself a target of ending chronic and extreme poverty by the year 2030.
However, that's not the end of our challenge.
$1.25 a day is a shockingly low line.
About one-seventh of the world happens to be that poor.
If the number of people that poor begins to go down, I think it'll make perfect sense to say that, well, let's draw another line.
That's something we could reasonably be looking at in the future.
When you're looking at the poorest people in a country, they may have a consumption pattern which is very, very different from the average person's consumption in that country.
And so the price index constructed by taking the average of what is consumed in the country may not be relevant for the poor.
Since in poor people's consumption basket, a disproportionate amount is spent on food.
If food prices go up, that might mean a lot for the poor.
So we cannot use the PPP numbers that we've just got
apply that to the poor and say, look, the poor people are much better off now and poverty has gone down.
Here to Morrison's.
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