The Poor Man’s Burden

Bill Easterly sounds a note of caution in FP:

For Jeffrey Sachs the crash is an opportunity to gain support for the hopelessly utopian Millennium Development Goals of reducing poverty, achieving gender equality, and improving the general state of the planet through a centrally planned, government-led Big Push. “The US could find $700 billion for a bailout of its corrupt and errant banks but couldn’t find a small fraction of that for the world’s poor and dying,” he wrote in September. “The laggards in the struggle for the [goals] are not the poor countries ... the laggards are the rich world.” To Sachs and his acolytes, poor people can’t prosper without Western-country plans—and the crash only serves to turn Western governments inward. Therefore, progress on poverty is bound to suffer...[continue reading]