Since the end of World War II, economists have tried to figure out howpoor countries in the tropics could attain standards of living approaching those ofcountries in Europe and North America. Attempted remedies have included providingforeign aid, investing in machines, fostering education, controlling populationgrowth, and making aid loans as well as forgiving those loans on condition ofreforms. None of these solutions has delivered as promised. The problem is not thefailure of economics, William Easterly argues, but the failure to apply economicprinciples to practical policy work.In this book Easterly shows how these solutionsall violate the basic principle of economics, that people--private individuals andbusinesses, government officials, even aid donors--respond to incentives. Easterlyfirst discusses the importance of growth. He then analyzes the development solutionsthat have failed. Finally, he suggests alternative approaches to the problem.Written in an accessible, at times irreverent, style, Easterly's book combinesmodern growth theory with anecdotes from his fieldwork for the World Bank.

This book is on these lists:

• January 2012 Indie Next List
• December 2011 Indie Next List
• November 2011 Indie Next List