-World Bank Blog The enormity of the global job-creation challenge is underscored in a comprehensive new analysis by the International Finance Corporation, which issued a wide-ranging Jobs Study at a recent IFC forum  on the urgency of the unemployment crisis. More than 200 million people are now unemployed worldwide – with another 1.5 billion people only marginally employed, and with an additional 2 billion working-age adults neither working nor seeking a...

-The Telegraph Even reformed capitalism cannot give equal opportunity There is a view that the real problem with capitalism is that there is no equality of opportunity under this system. Your entire life gets determined by which class you happen to get born into. If the effect of this ‘happenstance’ could somehow be eliminated, so that everyone enjoyed equality of opportunity, then even though income and wealth inequalities continued to remain...

-The Business Standard Nobody will believe Finance Ministry data that only 400,000 Indians earn more than Rs 20 lakh a year I had barely finished my lecture in support of Tax on Super Rich, when this gentleman sprang up from the audience and asked me how the finance ministry will define “Super Rich” in India. I managed to answer his question by reminding him that certain issues should be left to the...

-Al Jazeera Widening wealth gap in Beijing has stoked concerns over its impact on political and social stability. The Chinese government has issued a pledge to narrow the widening income gap between rich and poor, which includes raising its minimum wage and requiring state companies to turn over more profits to pay for social programmes. The pledge on Tuesday promised more spending on health, education and job training but gave few details and...

-The Hindu The National Bank for Agriculture and Rural Development (NABARD), whose funding of corporate warehousing projects on terms far softer than those offered to poor and often suicidal farmers was highlighted by The Hindu last month, has withdrawn its controversial scheme with retrospective effect under pressure from the Reserve Bank of India. The minutes of a meeting of the sub-committee of the NABARD Board held last month confirm that the RBI...