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The Elusive Quest for Growth



The Elusive Quest for Growth ($15.00)

Much research has been conducted by economists on the development of LDCs in the tropics and other regions. Proposed remedies have included foreign aid, capital investment, education, population growth control, aid loans, and loan forgiveness. Easterly argues the problem is not the failure of economics, but also the failure to apply economic principles to practical policy work.

The author shows that current solutions violate the basic principle of economics. That is, private individuals, businesses, government officials, and even aid donors respond to incentives. Easterly discusses the importance of growth, analyzes why development solutions have failed, and suggests alternative approaches. The book combines modern growth theory with anecdotes from his fieldwork for the World Bank.

William Easterly is Senior Fellow at the Center for Global Development and the Institute for International Economics in Washington, DC.

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