the world. which is, what lessons from this episode should be drawn by the u.s., the eu, the imf, the world bank, are these governments and institutions in part to blame for the current situation, for buttressing autocratic and corrupt regimes? for so long? >> i draw lessons for myself and the imf where work. the lesson is the one we talked about earlier. even though as a cooperative institution, we have to work with 187 countries and each organizes itself to a rally. i do not think that the imf, and i will strain and make a comment about the world right. they should not be in the business of operating a single view on how the world should organize itself politically. we do need to be doing -- [no audio] for economic reforms to be sustainable, they have to be seen, to be inclusive, and to offer everyone an opportunity to participate. to talk about not just average numbers on growth rate, tunisian hat among the highest per capita growth rate. to also began to talk about how that growth is being shared and to talk about governance issues in ways you begin to point out if people do not have access

>>scott: the world bank says higher education and higher education of women in particular is critical to promoting sustainable, social, economic and environmental development in the region. >>reporter: marketable skills. it has powerful supporters which include the world bank, the bill and melinda gates foundation and the wife of the former prime minister of great britain, cherie blair. she's justbeen elected chancellor: >>blair: it sometimes sounds incredibly idealistic to say, if we bring a group of young women together and mix them up regardless of where they come from, their religious background their ethnicity their wealth that they will have more in common than they will find to disagree about...it sounds like a fairy tale but i think the asian university for women is a concrete example of how that is really true. >>it's providing diversity, special care for the students...it is providing a lot of opportunities >>if i were at home i would be a married woman >>the name is very perfect, the asian university for women...the name is giving the whole vision andmission of women ...wha

i have queued for visas for the world bank. i worked for the world bank. this is humiliating whether or any country, for any person. so people take and should, they go through the channel. they go through all kinds of ways because you block the legal and organized way. so it's understandable. the europeans have not been able to face the issue. and i think it's part of the story. and then they have to face the issue and then deal with migration as a legitimate issue. of concern on both sides. then it has to be dealt with. and more importantly what is really more striking, in the interest of europe, it's not only in the interest -- not only have we looked at the numbers and it's a good match in terms of the demographics for europe to abeven for political and whatever reason, this has been no -- it has been put off. i think it should be on the table. >> lessons from the episode should be drawn by u.s., the e.u., the i.m.f., the world bank , are these governments and institutions in part to blame for the current situation? for buttressing corrupt and autocrati

evidence from research of economists and practitioners including virginia wire connecting to the world bank and former vice president of the world banks suggests outcomes related to inequity and social polarization are not explained by policy implementation. the authoritarian nature of the regime or the elite capture of these policies. we must go back to the drawing board to emphasize trickle-down economics over and against various forms of developments. with a few years after 91 egypt managed to reduce its budget deficit with control of the economic imbalances. with innovative techniques and fundamentally altering the social statements of society. prior to the 1990s egypt took responsibility for sources to the people including welfare service deployment, health and education and income support with subsidies. returned to the population was acquiescent to the regime. this did not happen across the board. unemployment and poverty were abundant. these were mitigated by the existence of state support apparatus provided a broad safety net that prevented many from falling into the depths of edge

because of the rising prices and you're going to have to make decisions. >> reporter: according to the world bank, food prices rose 29% in the last year. and while americans spend just over 9% of household income on food, for many in the developing world, who live on pennies a day, the price increases are staggering. >> when you're spending 80% or 90% of your income on food, just a 5% increase has a tremendous impact on your lifestyle. >> reporter: we've already seen food riots in the middle east and elsewhere as the price of daily bread skyrockets. what's driving up the price of food? the weather. floods in australia, drought in russia, and crop failures in china have reduced supply. at the same time, increased demand from emerging markets like india and china, where people are living better and eating more. but there is also speculation, which author frederick kaufmann says is artificially driving prices higher. the markets have been subverted, the whole thing has been thrown out of whack. that's what we're experiencing. consumers are going to feel this in the next eight, nine, ten months. >> r

the risk of unrest are rising in many countries. for some perspective on this crisis, our washington bureau chief darren gersh spoke with world bank's managing director, ngozi okonjo-iweala. >> the world bank recently used the word dangerous to talk bob the level of food prices around the world. define dangerous. >> we really believe we're in a kind of danger zone now with these volatile and rising food prices because we see an extra 44 million people who have been turning to extreme poverty as a result of the rise in prices. this is on top of 900 million people who are already going to bed hungry. >> when you say food has risen to dangerous levels, what does that mean in terms of people's incomes and what they're experiencing? >> many poor people in developing countries spend 50% to 66% of their income on food. so when the price of food rises like this, it means real tradeoffs. it is not a question of: do i eat this cut of meat or a poorer one? it's a question of: do i even have three meals a day, or one or two. we find that people drop meals, you know, when these prices rise. and that children, you know, are malnourished. they don

raise is the possibility of food reserves now this is something that bob zealot for instance of the world bank has suggested that perhaps the world food program could manage that food reserves where essentially you have but perhaps like our emergency that goes around the world whenever there's a crisis somewhere we've got food that ready able to distribute you know and i to ask all of you i mean one thing we haven't talked about here beyond the extreme weather that is something that is you can't really account for but i suppose since it's been with this for a while probably stay with this planet change climate change right with extreme weather but we also have another element here with something that i find really fascinating is the growing middle classes in the world we look at the bric countries and the chinese consume more meat than any other country in the world and this is one thing that is is the new mix here is because you have people that want better higher more in higher quality food and deborah if i get and a lot of people see that and it's a good way to make some money because there

people have been pushed into poverty since last summer by soaring commodity prices robert zoellick the world bank president said food prices have risen by almost thirty percent in the past year week has doubled may's is up seventy three percent so this is what you're seeing going on in the world and this is caused from primarily the federal reserve bank is increasing the supply of cheap money and the demand for the food is the problem is the supply of credit that's giving speculators an easy way to make greedy bucks in the short term even though it's putting forty four million people on the starvation lines so it mean think about the number of people who died in world war two people who died in previous wars this is of that comparable size the federal reserve is actually putting tens of millions of people into their into a grave well that's forty four million people yes that they're causing to start which is why paul the feral says that ben bernanke he is more dangerous than mubarak remember mubarak was a front man just for the military industrial complex ben bernanke he operates on behalf of the

are other countries gonna salute and say, yes sir, when the united states, when the world bank tells them how to do something with their economy? have we lost credibility in that area? >> i think the jury's still out on one of the important issues in, in the old washington consensus which is the, the question of the role of the state and, and size of government. and, uh, i, you know, i don't think the u.s. can, can claim to have all the answers on that or, or anything else. the one area in which china has not copied the u.s. in which we, we really need to, for the sake of the global economy and that is, domestic consumer consumption. we have a major imbalance in terms of, and it has everything to do with why there is so much debt in the u.s. with a very consumer demand oriented economy in the u.s. and, uh, you know, a totally export oriented economy in not only china, but other countries such as germany, and that's why you get, so much debt on one side of the equation and so much savings on the other. so the, the u.s. isn't the only one responsible for the, for keeping a healthy globa

lester brown uses scientific and economic studies together with data from the world bank the united states government and the united nations to draft a global budget for restoring the earth we look at the two sort of major components of what we think it's going to take to create a sustainable future one is poverty eradication and population stabilization and then we treat those as one because we think they're closely related when we put the budgets together for eradicating poverty stabilizing population plus what we call the earth restoration budget it comes to a total of one hundred sixty one billion dollars now that's a lot of money it's a third of the u.s. military budget. it's a third of the u.s. military budget and the u.s. military budget is half of the global military budget which is now about a trillion dollars and if you asked the question could we reduce the u.s. military budget by a third. and shift those expenditures into poverty eradication population stabilization earth restoration i think it's clear that we would do far more to insure our future than if we just stay with a h

>>scott: the world bank says higher education and higher education of women in particular is critical to promoting sustainable, social, economic and environmental development in the region. >>reporter: marketable skills. it has powerful supporters which include the world bank, the bill and melinda gates foundation and the wife of the former prime minister of great britain, cherie blair. she's justbeen elected chancellor: >>blair: it sometimes sounds incredibly idealistic to say, if we bring a group of young women together and mix them up regardless of where they come from, their religious background their ethnicity their wealth that they will have more in common than they will find to disagree about...it sounds like a fairy tale but i think the asian university for women is a concrete example of how that is really true. >>it's providing diversity, special care for the students...it is providing a lot of opportunities >>if i were at home i would be a married woman >>the name is very perfect, the asian university for women...the name is giving the whole vision andmission of women ...wha

today is just the start of the struggle. >> the world bank was morning food prices had grown dangerously high and pushed millions into poverty. -poor countries like bolivia where people spend a larger portion of their money on food, inflation really hurts. at the leaders of the world just largest wheat growing organization are determined not to let that happen. they have been digging irrigation channels. officials insist the world's most populous nation is not about to import large amounts of grain. >> china can feed itself with a small surplus on green. >> it is impossible for us to impact on world grain prices. >> this has led global food prices to jump 29%. with every poor harvests they may rise further. >> one person is recovering in a hospital after being beaten by a mob in cairo. lara logan is chief foreign affairs correspondent for cbs news. she was attacked on friday. u.s. networks say she was separated from her crew and rescued by a group of women and soldiers. the parents of amanda knox, -- they faced a trial in italy. they have been indicted for alleging the italian police abu

the president of the world bank says global food prices have hit dangerous levels which could cause politicalnstability and push millions into poverty. the institution that helps developing countries says world food prices jumped 29% in the past year and are just 3% below the historical peak in 2008. the increase is blamed on weather and trade ban, higher prices from corn, wheat and oil have sent 44 million people into extreme poverty. >> two more airline are raising prices on tickets usually bought by business travelers. delta and american announced their increase of up to $120 per round trip. that's first class, business class and 7 days advance purchase. others increased $50 round trip on business travelers. >> crews started helping a visitor to san francisco civic center pack up and starting home. you may have seen this giant three-head six-arm sculpture along market street. the statue spent the last nine months in san francisco to honor the 30th anniversary of the city relationship with shanghai. it will take about three days to fully disassemble the 26 foot high 15 ton statue before it'

according to recent numbers from the world bank, the number of chronically hungry people in the world currently totals a billion. is there enough supply? >> right now, the world is pushing up against supplies on just about every primary commodity. it's food, but it's also oil. it's even coal. >> water. >> it's water. so we have global economic growth that china and india have made into this stupendous global dynamism but the earth is finite and we're really pushing against these limits, and we're feeling it. 2008 we hit the highs. then lehman collapsed, financial crisis. the prices came back down. now that there's a global recovery, we're going right back to where we were in 2008. and so basically, what we've had is a phenomenon that we already reached three years ago, but then postponed because of the global economic crisis. now we're back to it. and we need solutions on primary commodities. we need solutions on the global food supply. we need to handle water better. we need alternative energy and all of this requires leadership, technology, cooperation. we have none of that anywhere

the world. which is, what lessons from this episode should be drawn by the u.s., the eu, the imf, the world bank, are these governments and institutions in part to blame for the current situation, for buttressing autocratic and corrupt regimes? for so long? >> i draw lessons for myself and the imf where work. the lesson is the one we talked about earlier. even though as a cooperative institution, we have to work with 187 countries and each organizes itself to a rally. i do not think that the imf, and i will strain and make a comment about the world right. they should not be in the business of operating a single view on how the world should organize itself politically. we do need to be doing -- [no audio] for economic reforms to be sustainable, they have to be seen, to be inclusive, and to offer everyone an opportunity to participate. to talk about not just average numbers on growth rate, tunisian hat among the highest per capita growth rate. to also began to talk about how that growth is being shared and to talk about governance issues in ways you begin to point out if people do not have access

tavis: dam businessa moyo is a former consultant to the world bank and author of "dead aid" and "how the west was lost" nice to have you back. let me ask you about the news of the day with the ongoing crisis, the protests, unrest in libya, oil prices driven up slightly higher today. talk to me about what you make of that and what's in store because we know when the price of oil goes up. >> absolutely. i think my immediate concern is that i think people are sort of categorizing or characterizing what's going on in the middle east as an issue around democracy, which i think it partly is. it's the people's disappointment and outrage that many of these countries have not improved their living conditions in terms of economic growth and reductions in poverty. many of these countries in north africa, across africa also but in the middle east have significant pockets of young people who remain disaffected. what you are seeing here is outrage and disappointment with the economic situation, but more than that, the issue around politics and the specific question about the oil prices, there are i

from droughts in china, to floods in australia, paired with higher demand for food around the world, the world bank warned yesterday global food prices are at dangerous levels. u.s. corn prices are up nearly 60%. so, cereal and meat will cost more. cotton, is at a 15-year high. increasing the cost of a pair of jeans by at least $4. underwear prices could jump as much as 30%. on top of that, gas prices have reached their highest-ever february level. >> they keep going up, definitely. i don't think it's going to stop. >> reporter: new retail sales numbers show weaker-than-expected growth, in part, because of high energy prices. >> you put prices at the pump, together with prices on the grocery store, that puts a lot of limits on where you can spend elsewhere in the economy. >> reporter: and with many 2011 crops not even in the ground yet, economists say relief could be months away. >> nobody's going to bet on what's the production for 2011, until we actually harvest that. >> reporter: one market research group says if you want to save on clothes, you better buy now. they estimate prices could go up a

the president of the world bank says global food prices have hit dangerous levels which could cause political instability and push millions into poverty. the institution that helps developing countries says world food prices jumped 29% in the past year and are just 3% below the historical peak in 2008. the increase is blamed on weather and trade ban, higher prices from corn, wheat and oil have sent 44 million people into extreme poverty. >> two more airline are raising prices on tickets usually bought by business travelers. delta and american announced their increase of up to $120 per round trip. that's first class, business class and 7 days advance purchase. others increased $50 round trip on business travelers. >> crews started helping a visitor to san francisco civic center pack up and starting home. you may have seen this giant three-head six-arm sculpture along market street. the statue spent the last nine months in san francisco to honor the 30th anniversary of the city relationship with shanghai. it will take about three days to fully disassemble the 26 foot high 15 ton statue before i

and the world bank thinks global food prices are dangerously high, up 29% in the past year. the bank fears that could push people into poverty and fuel political instability around the globe. still ahead, the c.e.o. of k.b. home talks about the challenges facing the housing recovery and the builder's efforts to boost sales through energy efficiency. >> susie: a strong defense of his budget today from president obama. he responded to criticism that he didn't make enough deep spending cuts. the president told reporters his plan, quote,"running up the credit card." le is confident republicans and democrats can agree on changes to he's confident republicans and democrats can agree on changes in social security and other programs, and he thinks investors and the markets want to shrink the deficit. >> if they see us chipping away at this problem in a serious way, even if we haven't solved 100% of it all in one fell swoop, then that will provide more confidence that washington can work. and more than anything, that's not just what the markets want; that's what the american people w

that i mean there's an interesting report that came out early this month from the president of the world bank saying that some forty four million more people have been placed into poverty by rising food prices something that north africa the middle east has has witnessed first hand and i think it's very interesting that in countries like iraq the government has previously planned to buy eighteen f. sixteen that now scrapped that order to replace it with food subsidies for the poor so we're dealing with very basic problems here if these countries can't secure the basics for their people it doesn't matter how secure their police forces are these people are going to stand idly by anymore and i think it's a combination of new media and the internet as a social organizing tool that has allowed them to circumnavigate traditional security measures and make these protests as they are and it's interesting again in bahrain that they are very conscious of the fact the occupation of the central square gives a sort of focus to these things which i think is why they so violently cleared it last night but t

is bankrupt the world bank is bankrupt the federal reserve is bad. e.c.b. is bankrupt although there are there are all the before devastates said they needed to create one hundred trillion dollars of fresh credit lines to recapitalize all these bankrupt banks that's two tones the global g.d.p. number all these banks are completely and utterly bankrupt and the employment is nosediving so there's no basis for any more taxable revenue coming in so this is why you have revolution of course because the governments are out of money and they're trying to leave it on the people through these austerity measures they want to go back to utilization they want to go back with a few four or five hundred elites like kings running the world and everyone else is supposed to be a serf well you know that's not going to work for millions of people around the streets telling these governments in these corporations and these bankers to stop it we're going to revolt the cheapest thing for us to do is stage a global insurrection against banker occupation and not to comply with you