Is it possible for the vast mass of humanity to enjoy the living standards of today’s high-income countries? Jeffrey Sachs has produced an analysis that manages to be both pessimistic and optimistic at the same time. One might not be quite as optimistic about the solutions. But one must recognise the salience of the challenges, argues Martin Wolf.
In this week’s show: Bradford & Bingley – is the buy-to-let lender an investment in ruins or an investment opportunity? Mortgage rates – why the best deals are to be found not on the high street but in the oak-panelled halls of the private banks; why a so-called variable annuity can actually give you more certainty in retirement; and good and bad news on managing your credit card bills.
Achieving sustained, rapid growth turns out to be very hard. This is no objection to the findings of the Growth Report – it is, rather, an admission of how little we know about such a complex economic, social and political process.
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