Prosperity versus planning
Subtitle: how government stifles economic growth
By: David Osterfeld.
Publisher: Oxford University Press
Published: 1992
Place of publication: New York
Language: eng
Number of pages: 273
Subjects: Free enterprise -- Developing countries; Economic assistance -- Developing countries; Capitalism -- Developing countries; International business enterprises -- Developing countries; Developing countries -- Economic policy
Description: The African famine of the mid-1980s and the rapid decentralization of Eastern Europe and the former Soviet Union raised fundamental questions about the role of government in the economies of both industrialized and developing nations, and the effects of a too-sudden removal of stringent government controls. How can the people and governments of the third world be sure that resources will not be wasted or consumed too rapidly, that families will not have too many children, that enough of what is earned will be invested, and that investment will get where it is most needed? What steps will insure that multinational corporations will not take advantage of economically backward countries and their citizens? These are some of the pressing questions addressed in this groundbreaking book. Arguing on both theoretical and empirical grounds that the most effective way to promote economic growth is to establish a wall of separation between government and the economy, David Osterfeld presents an alternative development model diametrically opposed to the prevalent interventionist paradigm. Emphasizing the importance of the market as a vehicle for growth, he extends the concept of privatization to the Third World and proposes that many commonly held views regarding food production, resource availability, and population growth are actually alarmist myths flatly contradicted by the data. Focusing on issues of critical relevance to Third World development, including foreign aid, the role of multinational corporations and foreign investment, migration, and the impact of political corruption, this important and iconoclastic book will be vital for anyone concerned about the development of the Third World.
Notes: Includes bibliographical references (p. 247-264) and index.