Eric A. Posner of University of Chicago reviews “The Problem of Twelve: When a Few Financial Institutions Control Everything” by John Coates. The Econlit abstract of this book begins: “Explores issues that arise when a small number of actors acquire the means to exert outsized influence over the politics and economy of a nation, focusing in particular on the two late-twentieth-century institutions of index funds and private equity funds.”

Social protection programs have become increasingly widespread in low- and middle-income countries, with their own distinct characteristics to match the environments in which they are operating. This paper reviews the growing literature on the design and impact of these programs. We review how to identify potential beneficiaries given the large informal sector, the design and implementation of redistribution and income support programs, and the challenges and potential of social insurance. We use our frameworks as a guide for consolidating and organizing the existing literature and also to highlight areas and questions for future research.