Book : The Elusive Quest For Growth Economists Adventures..

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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- Why economists attempts to help poorer countries improve their economic well-being have failed.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, Easterlys book combines modern growth theory with anecdotes from his fieldwork for the World Bank. Review Curing emerging market poverty is on everyones list of priorities along with peace on earth. Yet the success has been dismal. This powerful book may help cure the ignorance of people with pat answers, do-gooders, the Seattle-Prague crowd, and economists who have neglected to keep up with the evidence. Far from dry, the book takes you to the scene, gives you the local color, and challenges you to concede that a lot of your prejudices are just that yet in the process does not throw economics overboard. Brilliant! Rudi Dornbusch, Ford Professor of Economics and International Management, MIT 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 Mans Burden: Why the Wests 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 NYUs Development Research Institute, visiting Fellow at the Brookings Institution, and Nonresident Fellow of the Center for Global Development in Washington, DC.
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