The road
less travelled
The End of Poverty
Jeffrey Sachs
Jeffrey Sachs enjoys a stature matched by few economists around the world. On the list of Time magazine's world's 100 most influential people, hailed by The New York Times as (probably) the most important economist in the world, Sachs was an advisor on development issues to Kofi Annan. He remains an important figure in anti-poverty initiatives such as Make Poverty History and Jubilee 2000.
So when Sachs writes about poverty and how it can be ended, it is time to take note. In The End of Poverty he draws on his learnings from over 25 years in some of the poorest regions in the world to offer a vision about the steps that are necessary to achieve prosperity for all. The book's basic premise is to junk the one-size-fits-all development economic model in favour of a differential analysis – an in-depth analysis of the factors affecting a country or a region and evolving an econo-mic strategy based on it.
The book begins with an overview of the economic situations of countries like Bolivia, Poland, Russia, India, China and Africa, giving the reader an understanding of the challenges facing developing nations in different parts of the world. As the writer has been personally involved with development work in these countries, he brings to the table an informed view on the subject. Finally, he offers an integrated set of solutions to tackle the curse of poverty across the world.
Sachs uses rigorous analysis and data to explain why over the past 200 years, wealth has diverged across the planet and why the poorest nations have so far been unable to improve their lot. He makes a convincing case as to why making the necessary effort is not just a moral obligation on the part of rich countries but also in their self-interest. For example, poor countries are most likely to be a fertile ground for recruiting future terrorists. Sachs goes on to argue that if the rich countries were to live up to their promises, such as increasing aid to 0.7 per cent of GDP, then there will be no more extreme poverty by 2025.
The strength of the book is that it not only dovetails the set of problems faced by the poor countries but also gives a set of solutions to tackle those. The foreword to the book has been written by Bono, lead singer of the band U2 and an avid anti-poverty campaigner. Irrespective of one’s viewpoint, The End of Poverty is a book that combines intellectual vision with real world experience. Sach's confidence in ending poverty is not based on some abstract economic theory but is a realistic treatise backed by first hand experience and data.
3 quick lessons
- Poverty can be ended by 2025
- No one size fits all economic models
- An integrated solution is needed
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Source: New York Times Best sellers list October 29 |
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