The American dream is not exclusively an American institution. For centuries the ideals of the American dream: “Life, liberty and the pursuit of happiness” have drawn immigrants from across the world to make a better life for themselves. But today—with unemployment at 8.1 percent and the housing market crippled by the credit crunch—the dream is deferred.

For a look at what this means globally, Edward Miguel, a professor of economics at UC Berkeley joins The Takeaway. He also co-wrote the book “Economic Gangsters: Corruption, Violence and the Poverty of Nations,” with economist Raymond Fisman.

The news of Bernard Madoff and the billions of dollars lost in his worldwide Ponzi scheme reinforces the connection between money and corruption. It’s a relationship that is also evidenced in countries such as Zimbabwe, Somalia and the Congo—in these nations corruption can been seen as a force that’s impeding economic development. For insight into how poverty and global corruption contribute to many of today's international crises The Takeaway turns to economist Edward Miguel. Miguel is the co-author of the new book "Economic Gangsters: Corruption, Violence, and the Poverty of Nations."