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"There are three rules for writing the novel. Unfortunately, no one knows what they are."
- W. Somerset Maugham
(1874 - 1965)
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| | The Elusive Quest for Growth:
Economists' Adventures and Misadventures in the Tropics
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| | by William Easterly
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ZIN Product Number: 10052164
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| | | |  | | | Product Details
 Format: Hardcover, 400 pages
Publisher: MIT Press
ISBN: 026205065X
Release Date: Jan 7, 2002
| |  | | | In Brief
Why economists' attempts to help poorer countries improve their economic well-being have failed.
| | | | From The Publisher
Since the end of World War II, economists have tried to figure out how poor countries in the tropics could attain standards of living approaching those of countries in Europe and North America. Attempted remedies have included providing foreign aid, investing in machines, fostering education, controlling population growth, and making aid loans as well as forgiving those loans on condition of institutional reforms. None of these solutions has delivered as promised. The problem is not the failure of economics, William Easterly argues, but the failure to apply economic principles to practical policy work.
In this book Easterly shows how these solutions all violate the basic principle of economics, that people -- private individuals and businesses, government officials, even aid donors -- respond to incentives. Easterly first discusses the importance of growth. He then analyzes the development solutions that have failed. Finally, he suggests alternative approaches to the problem. Written in an accessible, at times irreverent, style, Easterly's book combines modern growth theory with anecdotes from his fieldwork for the World Bank.
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| | | |  | | | | Acknowledgments | | | Prologue: The Quest | | | I | Why Growth Matters | 1 | | 1 | To Help the Poor | 5 | | Intermezzo: In Search of a River | 16 | | II | Panaceas That Failed | 21 | | 2 | Aid for Investment | 25 | | Intermezzo: Parmila | 45 | | 3 | Solow's Surprise: Investment Is Not the Key to Growth | 47 | | Intermezzo: Dry Cornstalks | 70 | | 4 | Educated for What? | 71 | | Intermezzo: Without a Refuge | 85 | | 5 | Cash for Condoms? | 87 | | Intermezzo: Tomb Paintings | 99 | | 6 | The Loans That Were, the Growth That Wasn't | 101 | | Intermezzo: Leila's Story | 121 | | 7 | Forgive Us Our Debts | 123 | | Intermezzo: Cardboard House | 138 | | III | People Respond to Incentives | 141 | | 8 | Tales of Increasing Returns: Leaks, Matches, and Traps | 145 | | Intermezzo: War and Memory | 170 | | 9 | Creative Destruction: The Power of Technology | 171 | | Intermezzo: Accident in Jamaica | 193 | | 10 | Under an Evil Star | 195 | | Intermezzo: Favela Life | 215 | | 11 | Governments Can Kill Growth | 217 | | Intermezzo: Florence and Veronica | 240 | | 12 | Corruption and Growth | 241 | | Intermezzo: Discrimination in Palanpur | 253 | | 13 | Polarized Peoples | 255 | | Intermezzo: Violent for Centuries | 282 | | 14 | Conclusion: The View from Lahore | 285 | | Notes | 293 | | References and Further Reading | 313 | | Index | 335 |
| |  | | | Find similiar books in these subject areas:
All Topics > Business & Investing > Biographies & Primers > Policy & Current Events
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| | | | | | Keywords
Poor, Developing countries, Poverty, Economic policy, Economic Theory, Business / Economics / Finance, Business & Economics, Development - Economic Development, Economics - General, Economics - Theory, Economic policy, Developing countries, Poverty, Poor
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