- Audible Audiobook
- Listening Length: 13 hours and 47 minutes
- Program Type: Audiobook
- Version: Unabridged
- Publisher: Penguin Audio
- Audible.com Release Date: January 7, 2009
- Whispersync for Voice: Ready
- Language: English
- ASIN: B001QCZTXO
- Amazon Best Sellers Rank:
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The End of Poverty Audible Audiobook – Unabridged
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The second is the advantage of high-density urban life for most nonfarm economic activities, especially the face-to-face demands of commerce and other parts of the service sector. Sparsely populated rural areas make good economic sense when each household needs a lot of land for farm production. But they make little sense when people are engaged mainly in manufacturing, finance, commerce, and the like. Once the labor force is no longer engaged mainly in food production, it is natural that the bulk of the population will relocate to cities, drawn by higher wages that in turn reflect the higher productivity of work in densely settled urban areas.
Modern economic growth has also produced a revolution in social mobility. Established social rankings-such as the fixed hierarchical divisions between peasants and gentry, or within the Indian caste structure, or in the social orders of nobility, priests, merchants, and farmers that characterized many traditional Asian societies-all unravel under the forces of market-based modern economic growth.
Fixed social orders depend on a static and largely agrarian economic setting where little changes in living standards or technologies from one generation to the next. They cannot withstand the sudden and dramatic bursts of technological change that occur during modern economic growth, in which occupations and social roles shift dramatically from one generation to the next, rather than being inherited by sons from fathers and daughters from mothers.
When Sachs focuses on development theory, specifically why we need more aid, he truly shines. The developed world needs to cancel debt and institute drastically more aid (which would still only be .7% GNP).
Where Sachs fails is his distorted sense of history. Sachs' chapters on Bolivia, Poland, China, India, and Russia all omit VERY important facts and in some cases downright lie. Sachs sprinkles the book with quotes by Keynes but make no mistake: his policy prescriptions are straight from Milton Friedman. The affect of his policies were a disaster in Bolivia, Poland, and especially Russia (Read Naomi Klein's: The Shock Doctrine). Many development economists would strongly disagree with Sachs on the causes of success in India and China. Sachs views them as successful due solely to liberalization. That is at best misleading and at times wrong.
Sachs goes throughout the books saying how he has continually proved the critics wrong. In nearly every chapter he talks about how men opposed his ideas and how history has proved that he was correct. In reality, to a large degree, this has not happened.
Read 'The End of Poverty' but take it with a grain of salt.
The keys identified by Sachs include infrastructure investment, education, free trade and focused resources. Sounds like a common sense approach to me. The translation of poverty to warfare and insecurity is a powerful one - and a fraction of military spending diverted here could go a long way to solving security AND economic issues.