Papers Published in World Economics:
The Banking Crisis and Inequality
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Tim Lankester on Paul Collier, The Bottom Billion: Why the Poorest Countries Are Failing and What Can Be Done About It
Author:
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Tim Lankester on Andrew Glyn, Capitalism Unleashed: Finance, Globalization, and Welfare
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Asian Drama
The now largely forgotten book Asian Drama: An Inquiry into the Poverty of Nations
by Swedish social scientist Gunnar Myrdal was published in 1968. Myrdal called
his book “Asian Drama” because of the tensions he saw being played out in Asia
between modern ideals and the traditional. But there was another drama too—
the tension being played out, within the ‘modern project’, between the different
economic strategies that were on offer. It is this particular drama that Tim
Lankester focuses on in the context of India and Indonesia over the three
decades from the mid–1960s. And for both these populous countries, there are
dramas still to be played out. Both countries have new elected governments this
year, and growth prospects of their economies largely will depend on to what
extent remaining reform and governance issues are tackled.
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International Aid
This article describes the main reasons why aid has not been as effective at
addressing the world’s poverty problem as it could have been: lack of will on the
part of donors, inadequate policies and governance on the part of recipients, and
a lack of understanding of development and of how aid works best. It goes on to
argue that donors and recipients alike are now better positioned to make aid
more effective. However, the current and prospective level of aid is inadequate
for the achievement of the Millennium Development Goals. While the moral
case for more aid is compelling, it remains to be seen when and whether this will
lead to larger aid budgets.
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