The End of Poverty

I've been meaning to read this book for awhile. I finally picked it up from the library and I am enjoying it. it's quite bizarre that he starts the book by talking about Malawi!!

Apparently somebody thought of some of the same issues I've considered but has spent his life doing researching and trying out some of his ideas. I have not finished the book yet but it has been pretty good so far. Of course it's filled with alot of ego stroking and boasting, "I was the first to do this, I fixed this countries economy, etc, etc", but on the whole very insightful. Definitely like the way he explains how the western world has helped to create and sustain the poverty we see in third world countries.

He starts of by talking about some countries that are developing countries but have economies that are growing very quickly. For instance he talks about Bangladesh. In Bangladesh these garment factories have created alot of opportunity and raised the income levels of entire cities. Even though many times Americans see the garment factories as slave labor and horrible working conditions, many of the people who work there are able to support their families and raise the standard of living. Also discusses how even though some countries have some cities that are developing rapidly, some cities and areas are completely passed over and continue to live in extreme poverty.

The most interesting thing is how he discusses the various factors that cause poverty in a country. Traditionally the IMF and World Bank has focused on one issue as the problem. They'll go into a country and say, you are poor because you don't control inflation. Then they force them to control inflation, to get loans and assistance. Instead Sachs argues that you have to look at all the factors that are causing these countries economies to constantly go thru turmoil. Sometimes it is a mix of bad government, weak businesses, little education, untreated diseases, bad infractrastructure or civil war. To fix the problem you have to try and work on the issues causing the economic turmoil simultaneously.


Go get the book!!!