Written by the Director of Economic Policy and Poverty Reduction Programs for Africa at the World Bank (publisher of the annual World Development Report and hundreds of other development-related research), this work eschews theory and jargon and explains to interested readers in “kitchen-table language” (p. xi) precisely what they need to know about the current situation and future prospects in developing countries. A concise and cogent overview explains what economic development is and the conditions necessary to have it. It is not simply a growing economy, which often benefits a few already at the top of the social ladder, at the expense of the numerous poor. The condition of poverty is not just living below a certain dollar amount; it is the state of the society in which one lives, and encompasses social, educational and ecological circumstances. He then outlines seven transformations that are slowly happening worldwide, which may lead to more economic stability and equality.
These seven transformations are:
direct, individualized contact with the government;
more democracy and better data driving more governmental accountability;
social assistance programmes tailored to individual needs;
public education teaching both facts and behaviours which enhance productivity;
the pillars of sound economic management being widely accepted;
successful countries balancing monetary discipline with social cohesion; and
Africa becoming self-supporting.
These transformations, he asserts, are already in train and slowly moving forward. Their successful adoption in the global arena will ensure that all countries are economically stable.
A ten-page bibliography lists essential readings on this topic, and a detailed index quickly gives access to specific topics. A glossary of key terms would have been a worthwhile addition; with it, this could have been used as a handbook. Most reassuring about the content of this work is the author’s assertion that “[…]. I belong to no political party, commercial enterprise, interest group, or intellectual movement. So I am free to speak my mind” (p. xii). There is a lot of good news in Giugale’s book, and a great deal of optimism. The government working for us? All children receiving an education that renders them literate? His readable and easily understandable case summaries explain clearly how we can all live interdependently, equitably and peacefully.
An insider with no personal agenda; it doesn’t get more reliable than that. This book is highly recommended for economics, political science, international studies and graduate business collections.
