Archive - October 17, 2013

There is a new book out from Angus Deaton, the Eisenhower Professor of Economics and International Affairs at Princeton, entitled The Great Escape: Health, Wealth and the Origins of Inequality published by Princeton University Press. Before Deaton got to Princeton, he was with the World Bank, and with the Gallop Organization creating survey-based measures of well-being. In his book, Deaton states that global poverty today is no longer a result of lack of resources or opportunity, but of poor institutions, poor government and toxic politics. He blames both the giver and the receiver for this! He cites as an example Mauritania that several years ago was in danger of losing its international aid. So, the country’s president hatched the idea of becoming one of the few Arab countries to recognize Israel. The aid taps, Deaton said, were turned back on and the money flowed to Mauritania. Deaton goes onto say . . .