Curriculum Vita: William Easterly
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Annual Report
COUNCIL ON FOREIGN RELATIONS ANNUAL REPORT July 1,1996-June 30,1997 Main Office Washington Office The Harold Pratt House 1779 Massachusetts Avenue, N.W. 58 East 68th Street, New York, NY 10021 Washington, DC 20036 Tel. (212) 434-9400; Fax (212) 861-1789 Tel. (202) 518-3400; Fax (202) 986-2984 Website www. foreignrela tions. org e-mail publicaffairs@email. cfr. org OFFICERS AND DIRECTORS, 1997-98 Officers Directors Charlayne Hunter-Gault Peter G. Peterson Term Expiring 1998 Frank Savage* Chairman of the Board Peggy Dulany Laura D'Andrea Tyson Maurice R. Greenberg Robert F Erburu Leslie H. Gelb Vice Chairman Karen Elliott House ex officio Leslie H. Gelb Joshua Lederberg President Vincent A. Mai Honorary Officers Michael P Peters Garrick Utley and Directors Emeriti Senior Vice President Term Expiring 1999 Douglas Dillon and Chief Operating Officer Carla A. Hills Caryl R Haskins Alton Frye Robert D. Hormats Grayson Kirk Senior Vice President William J. McDonough Charles McC. Mathias, Jr. Paula J. Dobriansky Theodore C. Sorensen James A. Perkins Vice President, Washington Program George Soros David Rockefeller Gary C. Hufbauer Paul A. Volcker Honorary Chairman Vice President, Director of Studies Robert A. Scalapino Term Expiring 2000 David Kellogg Cyrus R. Vance Jessica R Einhorn Vice President, Communications Glenn E. Watts and Corporate Affairs Louis V Gerstner, Jr. Abraham F. Lowenthal Hanna Holborn Gray Vice President and Maurice R. Greenberg Deputy National Director George J. Mitchell Janice L. Murray Warren B. Rudman Vice President and Treasurer Term Expiring 2001 Karen M. Sughrue Lee Cullum Vice President, Programs Mario L. Baeza and Media Projects Thomas R. -
William Easterly's the Elusive Quest for Growth
The Elusive Quest for Growth Economists’ Adventures and Misadventures in the Tropics William Easterly The MIT Press Cambridge, Massachusetts London, England 0 2001 Massachusetts Institute of Technology All rights reserved. No part of this book may be reproduced in any form by any electronic or mechanical means (including photocopying, recording, or information storage and retrieval) without permission in writing from the publisher. Lyrics from ”God Bless the Child,” Arthur Herzog, Jr., Billie Holiday 0 1941, Edward B. Marks Music Company.Copyright renewed. Used by permission. All rights reserved. This book was set in Palatino by Asco Typesetters, Hong Kong, in ’3B2’ Printed and bound in the United States of America. Library of Congress Cataloging-in-Publication Data Easterly, William. The elusive quest for growth :economists’ adventures and misadventures in the tropics /William Easterly. p. cm. Includes bibliographical references and index. ISBN 0-262-05065-X (hc. :alk. paper) 1. Poor-Developing countries. 2. Poverty-Developing countries. 3. Developing countries-Economic policy. I. Title. HC59.72.P6 E172001 338.9’009172’4-dc21 00-068382 To Debbie, Rachel, Caleb, and Grace This Page Intentionally Left Blank Contents Acknowledgments ix Prologue: The Quest xi I Why Growth Matters 1 1 To Help the Poor 5 Intermezzo: In Search of a River 16 I1 Panaceas That Failed 21 2 Aid for Investment 25 Zntermezzo: Parmila 45 3 Solow’s Surprise: Investment Is Not the Key to Growth 47 Intermezzo: DryCornstalks 70 4 Educated for What? 71 Intermezzo: Withouta -
International Political Economy Summer Session I 2017 ______
POLI 144: International Political Economy Summer Session I 2017 ______________________________________________________________________________ Instructor Lauren E. Lee Department of Political Science Email: [email protected] Summer Session I, 2017 Office: SSB 346 Monday, Wednesday 2-4:50pm Office Hours: Wednesday12-2pm WLH 2209 ______________________________________________________________________________ DESCRIPTON: Why do governments adopt the economic policies they do? This course serves as an introduction to the subfield of international political economy (IPE). We will study how politics and economics interact in an increasingly globalized world and identify the causes and consequences of evolving economic relations. More specifically, this course examines economic relations in trade, investment, finance and development. We will utilize theoretical insights from both economics and political science to develop a way of thinking critically about how international economic interactions affect the incentives faced by political actors and how it explains the behavior of voters, interest groups, politicians, firms, institutions and countries. COURSE LEARNING OBJECTIVES: By the end of the course students should be able to: § Use economic and political theories to identify the distributional consequences of economic policy and predict the winners and losers § Evaluate how political institutions aggregate interests and determine policy § Synthesize competing explanations and develop unique arguments for the success or failure of global economic infrastructure REQUIREMENTS: Grading. Grades will be assigned as follows: § Policy Memos (50%, 2 memos 25% each) § Final Exam (40%) § Participation and Professionalism (10%) Policy Memos. You will be responsible for two 2-page policy memos over the span of the course. The first will be due on Wednesday, July 12th and the second will be due on Monday, July 31st. -
Why Is the World So Unsettled?
www.csbaonline.org 1 Why Is the World So Unsettled? The End of the Post-Cold War Era and the Crisis of Global Order The essence of a revolution is that it appears to contemporaries as a series of more or less unrelated upheavals. The temptation is great to treat each issue as an immediate and isolated problem which once surmounted will permit the fundamental stability of the international order to reassert itself. But the crises which form the headlines of the day are symptoms of deep-seated structural problems. --Henry Kissinger, 19691 During Donald Trump’s presidency and after, both U.S. foreign policy and the international system are likely to be wracked by crises. The instability and violence caused by a militarily resurgent Russia’s aggressive behavior in Ukraine and elsewhere; the growing frictions and threat of conflict with an increasingly assertive China; the provocations of an insecure and progressively more dangerous North Korea; the profound Middle Eastern instability generated by a revolutionary, revisionist Iran as well as by persistent challenges from non-state actors—these and other challenges have tested U.S. officials and the basic stability of international affairs in recent years, and they are likely to do so for the foreseeable future. The world now seems less stable and more perilous than at any time since the Cold War; both the number and severity of today’s global crises are on the rise. Yet as Henry Kissinger wrote nearly a half-century ago, during another time of great upheaval in the international environment, making sense of crises requires doing more than simply viewing them—or seeking to address them—individually, for all are symptomatic of deeper changes in the structure of international relations. -
The Age of Milton Friedman
Journal of Economic Literature 2009, 47:1, 123–135 http:www.aeaweb.org/articles.php?doi=10.1257/jel.47.1.123 The Age of Milton Friedman Andrei Shleifer* Between 1980 and 2005, as the world embraced free market policies, living stan- dards rose sharply, while life expectancy, educational attainment, and democracy improved and absolute poverty declined. Is this a coincidence? A collection of essays edited by Balcerowicz and Fischer argues that indeed reliance on free market forces is key to economic growth. A book by Stiglitz and others disagrees. I review and com- pare the two arguments. 1. Introduction also embraced free market policies. All three of these leaders professed inspiration from he last quarter century has witnessed the work of Milton Friedman. It is natural, Tremarkable progress of mankind. The then, to refer to the last quarter century as world’s per capita inflation-adjusted income the Age of Milton Friedman. rose from $5,400 in 1980 to $8,500 in 2005. The association between free mar- Schooling and life expectancy grew rapidly, ket policies and social progress notwith- while infant mortality and poverty fell just standing, economists remain divided in as fast. Compared to 1980, many more coun- their assessments of this Age. Two recent tries in the world are democratic today. books illustrate the divisions. A collection The last quarter century also saw wide of papers edited by Leszek Balcerowicz acceptance of free market policies in both and Stanley Fischer—Living Standards rich and poor countries: from private own- and the Wealth of Nations: Successes and ership, to free trade, to responsible budgets, Failures in Real Convergence (MIT Press, to lower taxes. -
Explaining Miracles: Growth Regressions Meet the Gang of Four
This PDF is a selection from an out-of-print volume from the National Bureau of Economic Research Volume Title: Growth Theories in Light of the East Asian Experience, NBER-EASE Volume 4 Volume Author/Editor: Takatoshi Ito and Anne O. Krueger, eds. Volume Publisher: University of Chicago Press Volume ISBN: 0-226-38670-8 Volume URL: http://www.nber.org/books/ito_95-2 Conference Date: June 17-19, 1993 Publication Date: January 1995 Chapter Title: Explaining Miracles: Growth Regressions Meet the Gang of Four Chapter Author: William Easterly Chapter URL: http://www.nber.org/chapters/c8553 Chapter pages in book: (p. 267 - 299) 11 Explaining Miracles: Growth Regressions Meet the Gang of Four William Easterly 11.1 Introduction Like everyone else, economists find success irresistible. The spectacular success of the East Asian economies has attracted a huge literature to explain the success and to examine the prospects for imitation by others. The leading actors in this development drama are the four most successful of the East Asian less developed countries (LDCs): Hong Kong, Korea, Singapore, and Tai- wan-known by such encomiums as the Gang of Four, the Four Dragons, the Four Tigers, the Asian miracles, and the newly industrialized countries (NICs). The Four have been used to support each development school’s favorite pre- scriptions, ranging from free market outward orientation to aggressive trade in- tervention.’ It is obvious why the story of the Four is so tantalizing: if only their success could be understood and replicated in other LDCs, the development problem would be solved. The metaphors for the Four recognize that replication is not William Easterly is principal economist in the Policy Research Department of the World Bank. -
IMF and World Bank Structural Adjustment Programs and Poverty
This PDF is a selection from a published volume from the National Bureau of Economic Research Volume Title: Managing Currency Crises in Emerging Markets Volume Author/Editor: Michael P. Dooley and Jeffrey A. Frankel, editors Volume Publisher: University of Chicago Press Volume ISBN: 0-226-15540-4 Volume URL: http://www.nber.org/books/dool03-1 Conference Date: March 28-31, 2001 Publication Date: January 2003 Title: IMF and World Bank Structural Adjustment Programs and Poverty Author: William Easterly URL: http://www.nber.org/chapters/c9656 11 IMF and World Bank Structural Adjustment Programs and Poverty William Easterly Poverty reduction is in the news for both the International Monetary Fund (IMF) and the World Bank. The IMF website says: In September 1999, the objectives of the IMF’s concessional lending were broadened to include an explicit focus on poverty reduction in the con- text of a growth oriented strategy. The IMF will support, along with the World Bank, strategies elaborated by the borrowing country in a Poverty Reduction Strategy Paper (PRSP). For its part, the World Bank headquarters has built into its lobby wall the slogan “our dream is a world free of poverty.” In a joint statement issued by the President of the World Bank and the Managing Director of the Inter- national Monetary Fund in April 2001, they declared poverty “the greatest challenge facing the international community” and an issue concerning which “the Bank and Fund have an important role to play” (World Bank and International Monetary Fund 2001, 2). The recent East Asian currency crisis and its aftershocks in other coun- tries generated intense concern about how the poor were faring under struc- tural adjustment programs supported by the Bank and the IMF. -
Saturday Programs In
preliminary program annual conference & exhibition 2007 I Friday, 6:00 pm – 7:30 pm Friday, 8:00 pm - 10:00 pm Fri., 4:00-5:30 pm, continued Welcoming Event The 2000 Printz: A Reunion ACRL STS ALA PUBLISHING division help you? Learn more in a basic Track: Non-Track Track: Non-Track orientation, which will include an overview To commemorate YALSA's fiftieth anniver - of the division and its activities. New GODORT Happy Hour sary, Booklist brings together Walter Dean members and those considering member - Myers, the winner of the first Michael L. ship will learn more about the benefits, ALA GODORT Printz Award, and the 2000 Honor Books and established members are welcome to Track: Non-Track authors who shared the podium with him attend this great networking opportunity. at the Booklist Printz forum in 2000, to Friday, 4:30 pm - 6:00 pm Friday, 6:00 pm - 8:00 pm reflect on the impact the award had on their work and on YA literature as a whole. FAFLRT Awards Reception Moderator: Stephanie Zvirin IRRT Librarians Orientation Speakers: Walter Dean Myers, Author, ALA IRRT ALA FAFLRT HarperCollins/Holiday House; Laurie Halse Track: Non-Track Track: Non-Track Anderson, Author, Penguin; Ellen An introduction to the ALA Conference Join the Federal and Armed Forces Wittlinger, Author, Simon & Schuster; and the city of Washington, DC for Librarians at the Awards Reception to be David Almond, Author, Random House; International and other attendees from held at the Army-Navy Club, 901 17th St. Michael Cart, Author-Editor abroad. ALA members will provide an N.W. -
Technocratic Solutions Versus Securing the Rights of the Poor
June 2019 The experts’ dilemma: technocratic solutions versus securing the rights of the poor The Tyranny of Experts: Economists, Dictators, and the Forgotten Rights of the Poor. By William Easterly. New York: Basic Books, 2014, 416 pp., $17.99 paperback. Since the end of World War II, rich countries have dedicated large amounts of time, money, and ink toward ending global poverty and hardship. Experts in the social sciences had been debating the right way to lift poor countries out of poverty even before the war. The dominant theory that has won the day in many development programs posits that poor countries can escape poverty by instituting top-down economic and political reforms. However, whether the “growth miracles” of the last century have happened because of or in spite of rich countries’ efforts is a matter of debate, one taken up in William Easterly’s book The Tyranny of Experts: Economists, Dictators, and the Forgotten Rights of the Poor. Easterly addresses the following question in his book: can rich countries use technocratic methods to lift poor countries out of poverty? The term “technocratic” implies that poverty is a technical problem, one that can be solved through scientific and apolitical solutions similar to a cooking recipe (an analogy Easterly used in his previous works). As the theory goes, if we get the ingredients (i.e., policies) just right, we can guide poorer nations out of poverty. Throughout the book, Easterly objects to this approach, showing that, by Stephen Zimmer disregarding the rights of the poor, development efforts [email protected] have historically done more harm than good. -
Libraries at Webscale
Libraries at Webscale Libraries at Webscale A discussion document OCLC Dublin, Ohio USA Copyright © !"##, OCLC Online Computer Library Center, Inc. $%$% Kilgour Place Dublin, Ohio &'"#(-'')% ALL RIGHTS RESERVED. Graphics appearing in the report and excerpts of text from the report may be reproduced by library organizations and OCLC member libraries for their noncommercial use without the prior written permission of OCLC, provided that such use is accompanied by clear and full attribution to OCLC (see format below) and proper acknowledgment of any works cited by OCLC in the graphics or excerpts used. The full report may not be reproduced, republished, stored in a retrieval system, transmitted or otherwise used, in any form or by any means, without the prior written permission of OCLC. Please direct permission requests to [email protected]. Form of attribution to OCLC: “OCLC, Libraries at Webscale” The following are trademarks and/or service marks of OCLC Online Computer Library Center, Inc.: OCLC, WorldCat, WorldCat Local, WorldCat.org, OCLC WorldShare and “The world’s libraries. Connected.” Printed in the United States of America Cataloged in WorldCat on December !, !"## OCLC Control Number: ($$""&%%' ISBN: )(*-#-%%$%'-&'*-$ #-%%$%'-&'*-* Table of Contents Introduction: our world now scales ! Our Web wide world " The case for Webscale #! Libraries operating at Webscale #$ Big collaboration !# Appendix A: World views !" The future is personalized !# Creating and consuming a universe of content !$ In a flat world, there is one road -
Michael Mandelbaum
Michael Mandelbaum Foreign Policy Specialist Professor, Johns Hopkins Johns Hopkins foreign policy specialist and bestselling author Michael Mandelbaum is known for his ability to explain the meaning and consequences of complicated global developments and trends. The New York Times called him "one of the country's leading public intellectuals," and Foreign Policy magazine named him one of the Top 100 Global Thinkers. Co-written with Thomas Friedman, Mandelbaum's That Used to Be Us: How America Fell Behind in the World It Invented and How We Can Come Back, debuted at #2 on The New York Times bestsellers list. Library Journal called it “a book of exceptional importance” that “should be read by policymakers and every American concerned about our country's future.” In March 2014, Simon & Schuster published his latest book, The Road to Global Prosperity, which looks at the future of the global economy and includes sections on financial stability, international security, the politics of trade, and emerging markets. Mandelbaum is the author or co-author of 14 books, including The Case for Goliath, Democracy’s Good Name, The Meaning of Sports, and The Frugal Superpower, which The Financial Times named one of the best non-fiction books of 2010. His classic, The Ideas That Conquered the World, has been translated into seven languages, including Chinese and Arabic. Thomas Friedman described it as "important and compelling," while Henry Kissinger praised it as “illuminating and thought-provoking.” The Christian A. Herter Professor and Director of American Foreign Policy at The Johns Hopkins University School of Advanced International Studies, Mandelbaum has taught at Columbia University, Harvard, and The United States Naval Academy. -
Was Development Assistance a Mistake?
Was DevelopmentAssistance a Mistake? By WILLIAM EASTERLY* Development assistance is the combination development wisdom shifted away from mobi- of money, advice, and conditions provided by lizing and guiding capital accumulation.Atten- rich nations and internationalfinancial institu- tion, instead, shifted toward the success of the tions, such as the WorldBank and International East Asian tigers (South Korea, Taiwan, Hong Monetary Fund (IMF), which is designed to Kong, and Singapore),which combined export achieve economic developmentin poor nations. orientation and macroeconomic stability. This This article argues that developmentassistance became the inspiration for structural adjust- was based on three assumptions that, with the ment packages of the IMF, the WorldBank, and benefitof hindsight(although a wise few also had the "WashingtonConsensus," which called for foresight),turned out to have been mistaken. removing price distortions,opening up to trade, and correcting macroeconomic imbalances I. We KnowWhat ActionsAchieve (mainly budget deficits).The slogan of the new EconomicDevelopment wave was "adjustmentwith growth." Alas, loans to finance structural adjustment Development economists long have known met the same fate in low-income countries as the answers of how to achieve economic devel- the earlier loans to finance investment-there opment. The only problemis that those answers was little or no growth; the loans could not be have continued changing over time. repaid;and the low-income debt crisis stretched To oversimplify,the evolutionof Conventional out into the new millennium with every year Wisdom is as follows (see also DavidL. Lindauer bringing a new wave of debt forgiveness (most and Lant Pritchett2002; the WorldBank 2005; recently, the cancellation of the structural and Dani Rodrik2006).