Heads up: Acton Research Fellow Anthony Bradley will be making an appearance today on NPR’s News and Notes program. Braodcast times may vary, so check your local NPR affiliate’s schedule to see if you can catch the show. If you miss it, you can check the show archives right here.
Comes now Gregory Clark, an economist who interestingly takes the side of culture. In an important new book, “ A Farewell to Alms: A Brief Economic History of the World,” Clark suggests that much of the world’s remaining poverty is semi-permanent. Modern technology and management are widely available, but many societies can’t take advantage because their values and social organization are antagonistic. Prescribing economically sensible policies (open markets, secure property rights, sound money) can’t overcome this bedrock resistance.
“There is no simple economic medicine that will guarantee growth, and even complicated economic surgery offers no clear prospect of relief for societies afflicted with poverty,” he writes. Various forms of foreign assistance “may disappear into the pockets of Western consultants and the corrupt rulers of these societies.” Because some societies encourage growth and some don’t, the gap between the richest nations and the poorest is actually greater today (50 to 1) than in 1800 (4 to 1), Clark estimates.
What do you think of the newly redesigned Acton homepage?
Thu, 01/08/2009 18:53
I am a young black female who thinks the trend is a lil dumb too, but it is completely unfair to single out a single [...]