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Poverty and Progress: Realities and Myths about Global Poverty, by Deepak Lal
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The greatest reduction in mass poverty in human history has occurred during the current era of globalization. The world’s poor are now catching up with the rich at a rapid pace in terms of human well-being—health, education, and life span.
Drawing on 50 years of experience around the globe, renowned development economist Deepak Lal describes developing country realities and refutes misguided notions about economic progress, including World Bank calculations that exaggerate the extent of poverty, overstated claims made on behalf of microfinance, the resurrection of discredited theories such as vicious circles of poverty, and the need for massive foreign aid to save Africa.
Lal also examines Western proposals to deal with climate change and concludes that they pose a great potential threat to the world’s poor. Fortunately, liberalization in poor countries makes them less likely to be swayed by the intellectual fads of the West, so that classical liberal economic policies will continue to be the source of progress in the developing world.
- Sales Rank: #2549479 in Books
- Brand: Brand: Cato Institute
- Published on: 2013-06-16
- Original language: English
- Number of items: 1
- Dimensions: 9.26" h x .94" w x 6.42" l, 1.10 pounds
- Binding: Hardcover
- 200 pages
- Used Book in Good Condition
About the Author
Deepak Lal is the James S. Coleman Professor Emeritus of International Development Studies at the University of California, at Los Angeles; professor emeritus of political economy at University College London; and a senior fellow at the Cato Institute.
Most helpful customer reviews
3 of 3 people found the following review helpful.
Superb look at economic history.
By Johnny & Riza
I've enjoyed other books by Professor Lal, most notably “Reviving the Invisible Hand.” This book sweeps them all up into a coherent and seeping look at economic history.
“At the start of my seventh decade, as I look back over the past 50 years, during which I have studied, engaged in various debates, and traveled in the Third World, I am amazed at the transformations that have lifted billions out of poverty. One of the saddening experiences in writing this book, and of reading what younger scholars have written during the last 20 years, is the realization that many of them have little sense of this amazing achievement or its causes.”
Though data filled, Lal also includes keen insights into what worked, what did not, and an optimistic view forward.
"This cultural divergence, as I argued in Unintended Consequences and which was summarized in Part 1, was due in part to the family revolution of Gregory the Great in the sixth century in the West. This gave rise to the individualism that led to the Renaissance and the scientific revolution, but also to the rise of nuclear families and the creation of statist safety nets for the poor, replacing the communal ones provided in the past and which continued in the other Eurasian civilizations-- including China. It was not the welfare states, which were a necessary consequence of its newfound individualism, that led to the rise of the West, but the sheer escape from tradition in art and science that individualism promoted."
An entertaining and informative read – five stars.
4 of 5 people found the following review helpful.
Another Book Review from the Aleph Blog
By David Merkel
I appreciated this book. In my early 20s, I wanted to do development work in developing countries, but I ran into a problem. All of the interventionist solutions didn't work, and countries that ignored the advice of development economists tended to do better. That has continued to be true since then. Among academic economists, the battle goes on between the socialists and free marketers. The battle goes on in many arenas:
* It is easy to do cross-sectional time-series regressions across countries, and twist the data to your bias. In general, more flexible the econometric technique, the lower the probability that it tells an accurate story. Noise gets interpreted as signal. [The Ph. D.s at the Fed are experts at this.]
* How much of poverty is due to culture, recalcitrant governments denying property rights to their people, etc?
* How much different was it for the now developed nations to develop during their era? Do the same principles apply?
* Are there really "poverty traps" in development?
* Are there structural problems in development that naturally occur, or does it stem from government interference?
This book takes an optimistic view on development, against the crowd that creates complex models in order to allege market imperfections, rather than government imperfections. The truth is that poverty in the world is in retreat, and abject poverty may not exist in another generation, aside from nations that sabotage themselves. Nations that are growing can follow the same path of freedom as the developed nations did.
This book will open your eyes on global poverty, and make you realize that we are close to success, aside from self-inflicted wounds. It will also make you think through the metaphysics and ethics of global warming, and explain to you why it is unfair for the developed nations to constrain the developing nations regarding use of hydrocarbons. [For those that are partisans on global warming, this book argues that global cooling is happening. Is your mind open enough to consider the argument?]
I recommend this book highly. Well written, and not afraid to take some non-consensus views in favor of freedom.
Quibbles
None.
Who would benefit from this book: You have to be interested in development economics to enjoy this book.
1 of 1 people found the following review helpful.
Eneggy policy Vs. World's poor
By Rafique Ahmed
This book provides insight in to the debate between development, progress, climate change, and the forgotten poverty. The developed world is pushing the agenda to reduce energy consimption, which will cause even more hardship to the world's poor.
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