Economic Development

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Reuters: Complete the Job

Author: Hugo Dixon

"Greece's reform job is not even half finished. The government hasn't done enough to root out the vested interests that strangle the economy. Nor has it cracked down fully on tax evasion or pushed hard enough to privatise state-owned properties."

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Irish Times: Somalia Starts to Pick Up the Pieces

Author: Mary Fitzgerald

"For the first time in a very long time, people here have hope," says Liban Mahdi, one of scores of diaspora Somalis who have returned to Mogadishu since al-Shabaab were routed from the city by African Union and Somali forces in August 2011. Parts of the battle-scarred capital are experiencing a construction boom, with hospitals, homes, schools, shops and hotels rising from once rubbled neighbourhoods. Streets hum with cars and hawkers. "We have traffic jams in Mogadishu now," says Ismail, who works in construction. "I never imagined I would see that here."

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News Release

Jagdish Bhagwati and Arvind Panagariya on How to Replicate India’s Growth in Other Developing Countries, in New CFR Book

Indian leaders and economic planners focused on eradicating poverty by "growing the pie rather than slicing it," and fueled the country's growth with market-based policies, write economists Jagdish Bhagwati and Arvind Panagariya in Why Growth Matters: How Economic Growth in India Reduced Poverty and the Lessons for Other Developing Countries, a new Council on Foreign Relations (CFR) book.

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NYT: Silicon Valley’s Start-Up Machine

Author: Nathaniel Rich

The Mountain View investors are the partners of Y Combinator, an organization that can be likened to a sleep-away camp for start-up companies. Y.C. holds two three-month sessions every year. During that time, campers, or founders, have regular meetings with each of Y.C.'s counselors, or partners, at which they receive technical advice, emotional support and, most critical, lessons on the art of the sale. There is no campus, only a nondescript office building in Mountain View — on Pioneer Way, around the corner from Easy Street. Founders are advised to rent apartments nearby, so that they can run to the office in minutes should an important investor pay a visit.

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