4 min read.Updated: 26 Aug 2021, 10:10 PM ISTDani Rodrik
The discipline is in soul-searching mode over gender and racial imbalances but geographical diversity is highly critical too
Early in his career, the economist Joseph E. Stiglitz had an extended stay in Kenya, where he was struck by various oddities in how the local economy operated. Sharecropping was one such anomaly. If farmers were required to surrender half of their harvest to landlords, Stiglitz wondered, wouldn’t that greatly tax incentives and thus reduce efficiency? Why did such a system persist?