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The Elusive Quest for Growth : Economists' Adventures and Misadventures in the Tropics, by William R. Easterly
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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 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.
- Sales Rank: #852998 in Books
- Brand: Brand: MIT Press
- Published on: 2001-07-01
- Ingredients: Example Ingredients
- Original language: English
- Number of items: 1
- Dimensions: 9.00" h x 1.00" w x 6.00" l,
- Binding: Hardcover
- 400 pages
Review
"A highly readable and iconoclastic treatment of the determinants of economic growth."
— Richard N. Cooper, Foreign Affairs
"It is impossible to convey the depth and range of The Elusive Quest for Growth."
— Bruce Bartlett, The Wall Street Journal
About the Author
William Easterly is the author of The Elusive Quest for Growth: Economists' Adventures and Misadventures in the Tropics (MIT Press, 2001) and The White Man's Burden: Why the West's Efforts to Aid the Rest Have Done So Much Ill and So Little Good. He is Professor of Economics at New York University (Joint with Africa House), Codirector of NYU's Development Research Institute, visiting Fellow at the Brookings Institution, and Nonresident Fellow of the Center for Global Development in Washington, DC.
Most helpful customer reviews
0 of 0 people found the following review helpful.
What a revoltin' development this is
By Wrestles with Bits
If economic development in developing countries is a topic of interest, Easterly's book should be required reading. He examines the various approaches that have been tried over the past 50 or so years to alleviate the chronic poverty afflicting the developing world. The writing is fluid and easy to follow and is generally an exceptionally good read and even worth a second or third. He is at his best when picking apart the solutions introduced under different schools of thought in the development community, but he does this with the benefit of 20/20 hindsight, so should be taken with a grain of salt regarding the full policy implications of his conclusions. While some of his ideas have a few holes, they are forgivable as long as he is not taken as gospel on the subject. His basic premise of "question what you think you know" is a solid starting point for anyone interested in the field. For a solidly-written contrary perspective, see Jeffrey Sachs' "The End of Poverty."
1 of 1 people found the following review helpful.
A much better analysis of the African aid problem than The White ...
By Julie C. Wang
A much better analysis of the African aid problem than The White Man's Burden, which gets all the publicity primarily I suspect because of the title.
0 of 0 people found the following review helpful.
a good survey of the obstacles for development supported by a ...
By Oele A. P.
a good survey of the obstacles for development supported by a lifetime of experience in the service of the world bank by a practicing development economist. A mixture of frustration and drive for working solutions in a diversity of countries and cultures.The repeated basic element of people reacting tot incentives gets leads to a diffuse and unclear set of applicable solutions.
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