Delightful statements from one of my more charming books on globalization and personalized pithy responses.
-The whole section on "exploitation of labour in developing countries"
-"There is a huge range of sophisticated products-pharmaceuticals, electronics, advanced machiniery, sophisticated aircraft and so forth-that only high-income countries can make". My sass filled retort follows: "Thank you for stating the obvious. However, it is the unequal distribution of such technology that stilts industrial growth."
-Equal care must be taken over the fashionable crusade for the elimination of child labor." Word choice Wolf, word choice.
Intelligent observations:
"It is unquestioningly correct that developing countries need to be allowed to use instruments which help them overcome the many obstacles of backwardness-the absence of knowledge of what to do-and how to do it-that is the essential characteristic of that backwardness. "
-"Developing countries are able to make the policy decisions needed to promote their long-term development." (Trade liberalization and what the WTO fails to do)
And then Stilgitz offers actual pragmatic ideas about development, outlining how to couple economic growth with infrastructure investment, education, health, and the human capital needed to make equity work for transforming a failed state into a growing state. Oh-and don't measure success by GDP.
Monday, November 16, 2009
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