What Developed Economies Can Learn from Jamaica
By Peter Blair Henry
Emerging markets know about reinvention. Nations formerly crippled by debt and poverty have engineered a remarkable turnaround and now account for more than 50% of global growth.
It is tempting to dismiss these microbusinesses that function outside the formal economy. But the ability to build something new from broken pieces is precisely the skill that business leaders in the United States, Europe, and other advanced nations need to renew prosperity.
It’s time to take a page from the Jamaican pushcart playbook.
Read full article as published in Quartz
Peter Blair Henry is the Dean of the Leonard N. Stern School of Business, Dean Richard R. West Professor of Business and William R. Berkley Professor of Economics & Finance.