The Elusive Quest for Growth
Economists' Adventures and Misadventures in the Tropics
By William R. Easterly | Publisher: MIT Press
About the book
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, Easterly's book combines modern growth theory with anecdotes from his fieldwork for the World Bank.
Editions of The Elusive Quest for Growth
- Hardcover
- ISBN 9780262050654
- Paperback
- ISBN 9780262550420
- EBook
- ISBN 9780262260657
- EBook
- ISBN 9780262272117
- EBook
- ISBN 9780262332880
Read an Excerpt
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, Easterly's book combines modern growth theory with anecdotes from his fieldwork for the World Bank.
Frequently Asked Questions
What is The Elusive Quest for Growth about?
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, Easterly's book combines modern growth theory with anecdotes from his fieldwork for the World Bank.
What core themes, tropes, or subjects are explored in The Elusive Quest for Growth?
Economics, Finance, Business and Management > Economics
Where can I read a sample of The Elusive Quest for Growth?
You can read an official preview of the few pages here https://www.book2look.com/book/9780262050654
Who is/are the Author/s of the book The Elusive Quest for Growth?
William R. Easterly
Who is the Publisher of the book The Elusive Quest for Growth?
MIT Press
What are the ISBN numbers for the physical and digital editions?
The Elusive Quest for Growth is available as hardcover(ISBN 9780262050654) and paperback(ISBN 9780262550420) and ebook(ISBN 9780262260657) and ebook(ISBN 9780262272117) and ebook(ISBN 9780262332880)
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Where can I buy The Elusive Quest for Growth?