The End of Poverty: Economic Possibilities for Our Time
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The End of Poverty: Economic Possibilities for Our Time description
Celebrated economist Jeffrey Sachs has a plan to eliminate extreme poverty around the world by 2025. If you think that is too ambitious or wildly unrealistic, you need to read this book. His focus is on the one billion poorest individuals around the world who are caught in a poverty trap of disease, physical isolation, environmental stress, political instability, and lack of access to capital, technology, medicine, and education. The goal is to help these people reach the first rung on the "ladder of economic development" so they can rise above mere subsistence level and achieve some control over their economic futures and their lives. To do this, Sachs proposes nine specific steps, which he explains in great detail in The End of Poverty. Though his plan certainly requires the help of rich nations, the financial assistance Sachs calls for is surprisingly modest--more than is now provided, but within the bounds of what has been promised in the past. For the U.S., for instance, it would mean raising foreign aid from just 0.14 percent of GNP to 0.7 percent. Sachs does not view such help as a handout but rather an investment in global economic growth that will add to the security of all nations. In presenting his argument, he offers a comprehensive education on global economics, including why globalization should be embraced rather than fought, why international institutions such as the United Nations, International Monetary Fund, and World Bank need to play a strong role in this effort, and the reasons why extreme poverty exists in the midst of great wealth. He also shatters some persistent myths about poor people and shows how developing nations can do more to help themselves. Despite some crushing statistics, The End of Poverty is a hopeful book. Based on a tremendous amount of data and his own experiences working as an economic advisor to the UN and several individual nations, Sachs makes a strong moral, economic, and political case for why countries and individuals should battle poverty with the same commitment and focus normally reserved for waging war. This important book not only makes the end of poverty seem realistic, but in the best interest of everyone on the planet, rich and poor alike. --Shawn Carkonen |
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The End of Poverty: Economic Possibilities for Our Time Customer Reviews
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♥♥♥♥♥
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Must Read for Those Interested in Development
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You, being a smart person who is up on contemporary debates in economics and development and/or are a reader of Vanity Fair, probably already know all about Sachs and this book.
Sachs made his name giving "shock therapy" to various third world economies. He recommended they jack up interest rates, and pushed them towards neo-liberal free market structures. His career hit a bit of a bad patch when he was associated with the economic meltdown of the former Soviet Socialist Republic. This book is his recommendations for development in Africa.
Sach's ideas at base are pretty simple - Sub Saharan Africa needs lots and lots more aid. This aid should be put to use curing easily defeatable diseases and establishing local agrarian and, eventually, manufacturing economies. Oh, and right wing type who say that more aid won't fix the problem are wrong. That's about it.
I think Sach's has this all about half right. More aid is a good idea, but alone, and in the style he suggests, I doubt it will lead to an end to poverty. Paul Collier's more nuanced book [[ASIN:0195311450 The Bottom Billion: Why the Poorest Countries are Failing and What Can Be Done About It]], which I just finished, and will review soon, gives a better battle plan for dealing with seriously troubled countries. Sach's plan is a little too throw-money-at-the-problem for me.
Still, this book is worth a read. If you're going to talk about world poverty now a days (and I tend to talk about world poverty a lot), you going to have to know what Sach is up to. He is by far the biggest name in the field. He may not always be right, but he's the player that you need to know about. |
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