The article argues that targeted cash transfers represent a feasible, scalable mechanism to end extreme poverty, noting that previous growth-based models have stalled since 2015. Evidence from existing evaluations demonstrates that unconditional cash transfers positively impact consumption, health, and education without discouraging labor force participation. To move beyond small pilots, the authors propose initiating a national-scale "proof-of-concept" program, funded by private capital and embedded within a government structure. This approach is crucial not only for immediate poverty reduction but also for generating the necessary evidence to build state capacity and enable global replication of the model.
Financial aid for students without financial need: How do institutions use it strategically?
English Summary
Colleges are employing sophisticated pricing strategies, utilizing 'price discrimination' by setting high sticker prices while offering targeted merit aid discounts to higher-income students. This approach allows institutions to generate necessary revenue to cover rising operational costs and declining public funding. However, this reliance on discounting is creating a potential 'race to the bottom' in pricing, which erodes institutional revenue gains. The primary policy implication is that the increasing financial strain on colleges threatens the stability of need-based aid, potentially limiting access for lower- and middle-income students.
中文摘要
大學院校正採用複雜的定價策略，透過設定高昂的標價，同時向高收入學生提供有針對性的擇優獎學金折扣，實行「定價歧視」。此種做法使學府能夠產生必要的收入，以應對不斷上升的營運成本和公共資金的減少。然而，這種過度依賴折扣的模式，正在造成價格方面潛在的「惡性競爭」（race to the bottom），進而侵蝕學府的收入增長。主要的政策意涵是，大學日益增加的財務壓力威脅到需求導向資助的穩定性，可能限制低收入和中等收入學生的教育機會。
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