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The Elusive Quest for Growth: Economists' Adventures and Misadventures in the Tropics,New
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Why economists' attempts to help poorer countries improve their economic wellbeing 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 peopleprivate individuals and businesses, government officials, even aid donorsrespond 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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- Q: What is the main theme of 'The Elusive Quest for Growth'? A: The main theme of 'The Elusive Quest for Growth' is to explore why economists' efforts to improve the economic well-being of poorer countries in the tropics have largely failed since World War II.
- Q: Who is the author of this book? A: The author of 'The Elusive Quest for Growth' is William R. Easterly, a prominent economist known for his work on development economics.
- Q: What solutions to economic growth does the book discuss? A: The book discusses several solutions attempted by economists, including foreign aid, investment in machinery, education, and population control, but argues that these have not delivered the expected results.
- Q: How does Easterly view the role of incentives in economic policy? A: Easterly emphasizes that effective economic policies must consider the incentives that motivate individuals, businesses, and governments, suggesting that many failed solutions ignored this principle.
- Q: What is the publication date of this book? A: The book was published on August 8, 2002.
- Q: Is 'The Elusive Quest for Growth' suitable for general readers? A: Yes, the book is written in an accessible style, making it suitable for both academics and general readers interested in economics and development.
- Q: How many pages does the book contain? A: The book contains 356 pages.
- Q: What edition of the book is available? A: The available edition is the revised edition of 'The Elusive Quest for Growth'.
- Q: What binding type is used for this book? A: The book is available in paperback binding.
- Q: Does the book include real-world examples from the author's experience? A: Yes, Easterly combines modern growth theory with anecdotes from his fieldwork at the World Bank, providing practical insights into economic challenges.