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The world is a better place than it used to be. People are wealthier and healthier, and live longer lives. Yet the escapes from destitution by so many have left gaping inequalities between people and between nations. In The Great Escape, Angus Deaton--one of the foremost experts on economic development and on poverty--tells the remarkable story of how, starting 250 years ago, some parts of the world began to experience sustained progress, opening up gaps and setting the stage for today's hugely unequal world. ...
The world is a better place than it used to be. People are wealthier and healthier, and live longer lives. Yet the escapes from destitution by so many have left gaping inequalities between people and between nations. In The Great Escape, Angus Deaton--one of the foremost experts on economic development and on poverty--tells the remarkable story of how, starting 250 years ago, some parts of the world began to experience sustained progress, opening up gaps and setting the stage for today's hugely unequal world. Deaton takes an in-depth look at the historical and ongoing patterns behind the health and wealth of nations, and he addresses what needs to be done to help those left behind.
Deaton describes vast innovations and wrenching setbacks: the successes of antibiotics, pest control, vaccinations, and clean water on the one hand, and disastrous famines and the HIV/AIDS epidemic on the other. He examines the United States, a nation that has prospered but is today experiencing slower growth and increasing inequality. He also considers how economic growth in India and China has improved the lives of more than a billion people. Deaton argues that international aid has been ineffective and even harmful. He suggests alternative efforts--including reforming incentives to drug companies and lifting trade restrictions--that will allow the developing world to bring about its own Great Escape.
Demonstrating how changes in health and living standards have transformed our lives, The Great Escape is a powerful guide to addressing the well-being of all nations.
"[E]loquently written and deeply researched. . . . For those interested in world poverty, it is unquestionably the most important book on development assistance to appear in a long time."—Kenneth Rogoff, Project Syndicate
"Deaton . . . is perhaps the single most level-headed student of economic development in the world today. . . . The Great Escape is an extended meditation on the sources and consequences of inequality."—David Warsh, EconomicPrincipals.com
"Tops my list of must-read books for 2013. Deaton tackles big topics—global improvements to health and well-being, worrisome levels of inequality within nations and between them, and the challenges to curing poverty through foreign aid. His powerful, provocative argument combines careful analysis, humane insight, lucid prose, and a fearless willingness to challenge conventional wisdom. Whether you agree or disagree with its conclusions, this book will force you to rethink your positions about some of the world's most urgent problems."—Christopher L. Eisgruber, president of Princeton University, Bloomberg Businessweek
"[A] masterful account . . ."—Anne-Marie Slaughter, CNN.com
"The book deserves to be read by all, especially by the students of economic development."—Tirthankar Roy, Economic & Political Weekly
"Professor Deaton hits the psychological nail on the head when he suggests that aid is 'more about satisfying our own need to help.' He identifies the related issue of 'aid illusion'—the belief that poverty in poor countries can be solved by rich people transferring money."—Peter Foster, Financial Post
"This is a fascinating book on health, wealth and inequality."—Bibek Debroy, Businessworld
"Development economist Deaton draws on his lifelong interest in and considerable knowledge of economic development to tell the story of modernization and the rise from worldwide poverty. Chapters illustrating demographic and economic trends utilize well-crafted charts and graphs to depict the rising paths that countries, first the US and western Europe and more recently China and India, have taken as their populations improve their health, education, and income-making abilities."—