It would be reasonable for an economics undergraduate or a concerned citizen to believe that there is a relationship between the state of economies at a macro level and the living conditions of people at a micro level. Yet, a reading of the literature on the two subjects, macroeconomics and human development, suggests that these are two different worlds. The twain almost never meets. The discussion seldom intersects. The debates are separate. Even if this characterization is caricature, or an exaggeration, it does capture a virtual reality.

There are plausible reasons that cannot suffice as an explanation. For macroeconomics, whether theory or policy, the time horizon is the short run, whereas human development is about the long term. More important, perhaps, macroeconomic objectives, which no longer focus on full employment, are different in their concerns and do not address, let alone incorporate, any aspect of human development. Consequently, those concerned with macroeconomic policies neglect, or do not pay sufficient attention to, their implications and consequences for human development.