There has been a staggering reduction in global poverty over the last four decades. In China, sustained rates of economic growth have lifted 800 million people out of extreme poverty. Ethiopia, a country once synonymous with famine, has grown faster than China while nearly halving its poverty rate over the last 15 years. Across the planet, developing countries large and small, from India to Ghana, have seen astonishing successes in alleviating poverty, exceeding even the most optimistic economic forecasts.
How did this extraordinary shift happen? Do poor countries need more markets, or more government?
Two of the world's best-known development economists, Joseph Stiglitz and William Easterly, met on August 27, 2018, at the SubCulture Theater in Manhattan's East Village to debate these questions.