Elusive Quest for Growth Economists' Adventures and Misadventures in the Tropics

ISBN-10: 0262550423

ISBN-13: 9780262550420

Edition: 2002

Authors: William 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, Easterlyrsquo;s book combines modern growth theory with anecdotes from his fieldwork for the World Bank.
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Book details

List price: $35.95
Copyright year: 2002
Publisher: MIT Press
Publication date: 8/2/2002
Binding: Paperback
Pages: 360
Size: 6.25" wide x 9.25" long x 1.00" tall
Weight: 1.276
Language: English

Prologue: The Quest
Why Growth Matters
To Help the Poor
Intermezzo: In Search of a River
Panaceas That Failed
Aid for Investment
Intermezzo: Parmila
Solow's Surprise: Investment Is Not the Key to Growth
Intermezzo: Dry Cornstalks
Educated for What?
Intermezzo: Without a Refuge
Cash for Condoms?
Intermezzo: Tomb Paintings
The Loans That Were, the Growth That Wasn't
Intermezzo: Leila's Story
Forgive Us Our Debts
Intermezzo: Cardboard House
People Respond to Incentives
Tales of Increasing Returns: Leaks, Matches, and Traps
Intermezzo: War and Memory
Creative Destruction: The Power of Technology
Intermezzo: Accident in Jamaica
Under an Evil Star
Intermezzo: Favela Life
Governments Can Kill Growth
Intermezzo: Florence and Veronica
Corruption and Growth
Intermezzo: Discrimination in Palanpur
Polarized Peoples
Intermezzo: Violent for Centuries
Conclusion: The View from Lahore
References and Further Reading
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