F2F Class Notes (Nemo)

They see poverty as a side-effect of economic advance, a problem to be addressed through policy adjustments, and refuse to accept it is part of the system.
One can see that the neoclassical economics that currently dictates policy, and that has driven globalization, has little to offer when it comes to tackling poverty. It is reasonably effective at promoting economic growth. But growth does not assure the equitable distribution of wealth, and often appears to have the opposite effect, especially in the developing world.
If the objective is reducing poverty, then economics progress should be judged by measuring not growth, but poverty and economics exclusion.(??)

side-effect (n): 1-an unpleasant effect of a drug that happens in addition to the main effect:
E.g.: Does this drug have any side effects?
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2-an unexpected result of a situation:
E.g.: A side effect of the new law is that fewer people will take out insurance.

*If you take out insurance, you purchase coverage from an insurance company.

dictate (v): 1- to influence something or make it necessary:
E.g.: The party’s change of policy has been dictated by its need to win back younger voters.
E.g.: I wanted to take a year off, but my financial situation dictated that I got a job.