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.
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.
In celebration of James Baldwin, the literary legend and civil rights champion, and the centennial of his birth, we are sharing a collection of his work. James Baldwin (1924–1987) was a novelist, essayist, playwright, poet, and social critic. His first novel, Go Tell It on the Mountain, appeared in 1953 to excellent reviews, and his essay collections Notes
The New York Times recently published their list “100 Best Books of the 21st Century.” We are pleased to announce that there are 49 titles published from Penguin Random House and its distribution clients included in this list. Browse our collection of Penguin Random House titles here. Browse the full list from The New York
In celebration of Park and Recreation Month in July, we are sharing books about national parks around the United States and about the parts of nature that make them exceptional and unique.
We are celebrating Disability Pride Month in July with books from disabled writers, artists, and activists who have fought to create a more inclusive world. Find our full collection of titles, which includes literature, memoir, and history here.
