The King of Egypt dreamt that seven strong and healthy cows were eaten by seven scrawny and ugly ones. Then, he dreamt that seven hearty ears of corn were replaced with seven scorched and damaged corncobs. He didn’t know what to make of these dreams and asked his advisors to interpret them. No one could. From his cell in prison, Joseph learned of the King’s dreams and interpreted their meaning.
Seven years of abundance would be followed by seven years of drought in the land of Egypt. The years of famine would be so abysmal that they would erase the memory of the plentiful years. Joseph advised the King to prepare, using the bounty of the good harvest to withstand the calamity of the times to come. The King followed Joseph’s advice and saved the people of Egypt from hunger and disaster.
This story presents in a nutshell the message that we wanted the World Development Report 2014 to convey: In the face of an uncertain world, preparation in good times is essential for resilience in bad times and for prosperity always.
– Norman Loayza, director of World Development Report 2014.