"The Elusive Quest for Growth"

Paper Summary:

This book report examines at great length the various methods used by global banking institutions to promote growth in poor and developing countries. The paper points out that Easterly describes several panaceas, or approaches, which have been used over the years by these financial institutions, such as the World Bank and the IMF. In most of the cases, there is a spotlight shone upon the shortcomings of each of the approaches.

From the Paper:

"Economics provides the vision of what works and doesn't. The point of Easterly's book is to show that economics itself proves that many of the current techniques applied to the problem of poor and developing countries are ineffective. Each of the panaceas presented is a surprisingly in depth exploration of the failings of the methods endorsed by the World Bank in particular. Economics as an objective science shows that many methods just don't measure up, yet they continue to see practice."

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