Or they might even say that the CLICO crisis has been a process of creative destruction, with the pain of thousands of policyholders making way for new and stronger insurance regulation and supervision. Two weeks ago, Professor Angus Deaton won the 2015 Nobel Prize in Economics. Professor Deaton has changed our thinking about world progress.
His popular book The Great Escape: Health, Wealth and the Origins of Inequality, traces the ways the world has gotten better over the last 250 years, as billions of people have become healthier and happier as GDP has grown.