thank you, president malpass. >> that was an insightful and wide range of comments. one of the benefits of being the moderator is you have the monopoly on the first question or two. i have a few questions related to, and i advise everyone to submit questions. i don't think there will be any shortage of questions. i have been coming to this conference a long time, and you mentioned, you have been as well. and we spent a considerable amount of time discussing frustratingly weak potential growth and investment. and i know this is something you spent a lot of time thinking about. in your mind, what are the building blocks of strong and sustainable growth? and how does the world bank think about this? what's the framework? >> i'll tell you my view and then bring in the world bank. so i think economics is pretty clear that you need to have sound money as a starting point. you need to have a system of taxation that's not too distortive. i think that's done by having taxes at a low rate on a broad base. that's the revenue creation goal of a tax system. governments that provi

. >> please join me in thanking president david malpass. [applause] >> thank you. >> thank you. [inaudible conversations] [inaudible conversations] [inaudible conversations] >> hello everyone. i get the privilege -- for some reason they think i should be on the political panel at all times. it is a true joy when i get to do it because i get to see charlie and mark. both of whom unknown for really long time. to give you some background on the framing of this panel and charlie refers to as your dessert because you guys get to go through all the other stuff and this is fun. i'm not sure how fund politics is anymore but charlie will make it entertaining. >> first of all to see you know, charlie cook is a legend in terms of applying data to economic collections and at one point in time in his bio is says he was referred to as a picasso of political science which i thought i'm not sure that a also is considered misogynist maybe we should take that away. [laughter] broke truly an artist and amazing. also we have mark zandi i've known him since i was a regional economist. a long time ag