The Private Sector Drives Economic Growth

Suppose you were asked to reduce the vast, complex sea of economic, demographic, and environmental data in the debate about the prospects of the developing world down to, say, four telling facts. Which to choose?..........

........But what is your last telling fact? It would have to be some piece of information indicative of the way forward: how to get through this narrowing global bottleneck of lopsided income allocations, increasing material demands, and diminishing ecosystems.............That answer? The private sector. The fact: The private sector is larger than the public sector in all but a handful of developing countries, and for every $1 in net long-term flows to the developing world from official sources, the private sector now invests $2-3.

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