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Making Poor Nations Rich: Entrepreneurship and the Process of Economic Development (Stanford Economics and Finance) Paperback – November 8, 2007


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Product Details

  • Series: Stanford Economics and Finance
  • Paperback: 480 pages
  • Publisher: Stanford Economics and Finance (November 8, 2007)
  • Language: English
  • ISBN-10: 0804757321
  • ISBN-13: 978-0804757324
  • Product Dimensions: 9.1 x 6.3 x 1.2 inches
  • Shipping Weight: 1.5 pounds (View shipping rates and policies)
  • Average Customer Review: 3.5 out of 5 stars  See all reviews (4 customer reviews)
  • Amazon Best Sellers Rank: #941,442 in Books (See Top 100 in Books)

Editorial Reviews

Review

"The book concludes with encouraging success stories from nations in Asia (China, India), Europe (Ireland), and even Africa (Botswana), whose economic achievement illustrates Powell's belief that encouraging small-business entrepreneurs is the best way to achieve and maintain general affluence... The writing here is vivid and intelligent. Futurists will be particularly interested in the essays by James A. Dorn on China's key achievements and remaining economic needs, as well as the assessment of India's prospects for attaining world prominence in trade and culture by Parth J. Shah and Renuka Sane."—The Futurist


"This book is a bold quarterback sneak directly into a line of argument in economic development studies that has long been ignored, trivialized or considered impossible to measure. It emphasizes the critical role of entrepreneurship vigorously undertaken in a friendly institutional setting, moving from theoretical analyses to individual and national case studies in countries and regions worldwide." —William Ratliff, Hoover Institution, Stanford University


"While previous literature on entrepreneurship focused on how to construct new government programs to promote entrepreneurship, this book turns that theory on its head. This book shows how policies that limit government's scope of action are necessary to promote entrepreneurship. It is a refreshing change, and much more in line with the new and upcoming theories in this area than any previous works on state entrepreneurship policy." —Russell S. Sobel, West Virginia University


"Making Poor Nations Rich is a serious attempt to further develop the theory of entrepreneurship. Fourteen chapters of the book cover the most important issues of our time: wealth and poverty of nations, the role of entrepreneurship in economic and human development, economic performance of transitional economies with the stories of both winners and losers." —Yuri Maltsev, Carthage College

About the Author

Benjamin Powell is Director of the Center on Entrepreneurial Innovation at the Independent Institute and Assistant Professor of Economics at San Jose State University.

Customer Reviews

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Most Helpful Customer Reviews

5 of 5 people found the following review helpful By Peter Lorenzi on September 12, 2008
Format: Paperback Verified Purchase
An excellent text or required reading for a course in social entrepreneurship, if only for those students with a thorough grounding in economics. Covering entrepreneurial, wealth-creating activities around the world, "Making poor nations rich" provides a useful sampling of efforts to eradicate poverty not through aid or poverty assistance programs but instead through creative capitalism and social entrepreneurship. Another good example of going well beyond giving a person a fish and, instead, helping her start a sustainable business. Wealth transfer and re-distribution are insufficient if well-intentioned remedies and globalization, free trade, and even some creative destruction are much more benevolent for the poor than they are often painted.
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3 of 3 people found the following review helpful By Michael Strong on May 27, 2011
Format: Paperback Verified Purchase
In 1776 Adam Smith wrote a book on An Inquiry into the Nature and Causes of the Wealth of Nations in which he explained how and why Britain was becoming wealthy. The American founders took the book to heart, and as a consequence the 19th century saw Britain and the U.S. to become the first nations on earth in which the ordinary working man was able to enjoy an ever-more comfortable standard of living. Much of western Europe and then Japan managed to follow, until the anti-capitalists took over the universities in the 1920s and 30s. Sadly, after having known how to eliminate mass poverty for more than a hundred years, by 1950 most economists had become distracted by Keynes, socialism, or Marxism, such that as the former colonies became free they almost invariably implemented either a heavy-handed central government or outright Marxism. Powell's book is a wonderful contribution to the growing revival of real development economics, economics that can actually be used to create prosperity. The various contributions in Powell's book show how economic freedom has resulted in prosperity whenever it has been allowed to take place. In addition to the data-driven evidence, there are heart-rending accounts of how the poor are abused by bureaucrats. Every time I think of the Mr. Bouazizi, Tunisian merchant who immolated himself and thus started the Arab spring after he was harassed by authorities simply for selling goods, I think of accounts such as this from Powell's book:

"Consider cycle-rickshaw pullers and street vendors in the cities and towns of India. Delhi has approximately 500,000 cycle-rickshaws, providing an affordable and accessible transportation service to the poor.
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11 of 15 people found the following review helpful By V.H. Amavilah on March 1, 2008
Format: Hardcover
"Making Poor Nations Rich" is a very good book. It consists of three main parts. The first part deals with institutions and entrepreneurship. The second part is about the importance of constrained entrepreneurship on economic development in Africa, Latin America, Scandinavia, and the transitional economies of the former USSR. The final part stresses the benefit of the reforms underlying the growth spurt in entrepreneurship in China and the Republic of Ireland, and the difficulties that challenge entrepreneurship in India, New Zealand, and Botswana.

If pressed to rank the sections of the book in descending order of their strengths, I would say: Foreword, Introduction, Part 1, Part 3, and Part 2. However, such an ordering is too subjective for a great book like this one. I give it 5-stars.

Amavilah, Author
Modeling Determinants of Income in Embedded Economies
ISBN: 1600210465
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1 of 5 people found the following review helpful By Clifford J. Stevens on April 16, 2014
Format: Paperback Verified Purchase
This book is based, first of all, on a failure to define exactly what the authors mean by "entrepreneurship", and second by their failure to indicate that it is their kind of "entrepreneurship" that has been rejected by the Supreme Court and Congress of these United States

Their kind of "entrepreneurship" is business and commerce unbridled and uncontrolled by just laws - - the kind of "entrepreneurship" that created slavery, segegration, child labor, and the kind of labor practices that brought about major decisions of the Supreme Court. like "Muller v. Oregon". in 1908, , and a host of others.

It is this kind of "entrepreneurship" that is operative in most Third World countries, in spite of the authors seeming detailed statistics to the contrary. We can see it tearing apart countries like Mexico - in Africa,in Asia, and in the Middle East. Entrepreneurship is absent in totalitarian countries like China, Russia, Syria, Iran and North Korea, because totalitarian governments want to control the economy of their countries to benefit the State.

This book is really a plea for Free Market Economics, unbridled and unregulated by just laws, with the manipulation of statistics to give the impression that it is Free Market Economics that brings about prosperity in nations.

Commerce in the United states is the responsibility of Congress, not the several states, because otherwise states would put barriers to a national economy.

Supreme Court decisions from "Gibbons v. Ogden - to "Wabash , St. Louis & Pacific Railway Co. v. Illinois" - to Muller v. Oregon" - to C & A Carbone, Inc v. Town of Clarktown" have prevented a Free Market Economy from taking root in the United states. The latest decision in 1994.
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