Poverty and Progress: Realities and Myths about Global Poverty

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… See more details below

Overview

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.

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Editorial Reviews

Library Journal
04/15/2014
Lal's (emeritus, international development, Univ. of California Los Angeles; emeritus, political economy, Univ. Coll. London; senior fellow, Cato Inst.) extensive experience as an Indian diplomat and scholar in the field of international economics lends weight to his ideas. Here the author asserts that globalization, liberal trade policies, and rapid economic development are more effective tools for ending world poverty than the existing regime of international aid and planned development. This book would be a fine addition to the debate about economic development if Lal had stuck with this argument. But the author shatters his credibility and reduces his work to an ideological tract when he discusses the "global warming scare," praises the University of Chicago School of Economics experiments carried out at gun point by Chilean dictator Augusto Pinochet after he seized power in the 1973 coup, and dismisses economists who disagree with him as "snake oil salesmen" and "nirvana economists." VERDICT Lal's vitriol and far-right views mean that only fellow believers will buy his book or find it convincing.—Duncan Stewart, Univ. of Iowa Libs., Iowa City

Product Details

ISBN-13:
9781938048852
Publisher:
Cato Institute
Publication date:
05/03/2013
Sold by:
Barnes & Noble
Format:
NOOK Book
Pages:
264
Sales rank:
1,286,697
File size:
3 MB

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