Comments on: The Answer to Development Ignorance: More Complicated Advice by Experts or More Freedom for Entrepreneurs? http://aidwatchers.com/2009/04/the-answer-to-development-ignorance-more-complicated-advice-by-experts-or-more-freedom-for-entrepreneurs/ just asking that aid benefit the poor Fri, 30 Jul 2010 01:21:34 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: NFrazier http://aidwatchers.com/2009/04/the-answer-to-development-ignorance-more-complicated-advice-by-experts-or-more-freedom-for-entrepreneurs/comment-page-1/#comment-4851 NFrazier Thu, 16 Apr 2009 12:04:43 +0000 http://aidwatchers.com/2009/04/the-answer-to-development-ignorance-more-complicated-advice-by-experts-or-more-freedom-for-entrepreneurs/#comment-4851 When the world's largest planned economy also becomes the world's largest economy, how should free market capitalism respond? For example, if China convinces Argentina to adopt the yuan as its currency, Argentina had better learn to love fiscal tightness like the Germany does... When the world’s largest planned economy also becomes the world’s largest economy, how should free market capitalism respond?

For example, if China convinces Argentina to adopt the yuan as its currency, Argentina had better learn to love fiscal tightness like the Germany does…

]]> By: Linda Jones http://aidwatchers.com/2009/04/the-answer-to-development-ignorance-more-complicated-advice-by-experts-or-more-freedom-for-entrepreneurs/comment-page-1/#comment-4850 Linda Jones Tue, 14 Apr 2009 13:41:57 +0000 http://aidwatchers.com/2009/04/the-answer-to-development-ignorance-more-complicated-advice-by-experts-or-more-freedom-for-entrepreneurs/#comment-4850 "So in the end, the economics profession does have more sensible things to say about achieving long-run success than Beattie allows: (relatively) free individuals, free markets, free trade, free thinking, and institutions that support all of the above." I think the key word here is 'relatively'. In economies that run well over the long term (read offer eoncomic opportunity to the majority of people on a somewhat equitable basis) there appears to be a balance between private and public sectors. For example, functioning governments offer unbiased regulation and enforcement; the private sector provides entrepreurial energy, finance and market opportunities. It is not an either or, but a case of checks and balances to produce reasonable outcomes for the majority of citizens without undue gains to one group to the detriment of the other. “So in the end, the economics profession does have more sensible things to say about achieving long-run success than Beattie allows: (relatively) free individuals, free markets, free trade, free thinking, and institutions that support all of the above.”

I think the key word here is ‘relatively’. In economies that run well over the long term (read offer eoncomic opportunity to the majority of people on a somewhat equitable basis) there appears to be a balance between private and public sectors. For example, functioning governments offer unbiased regulation and enforcement; the private sector provides entrepreurial energy, finance and market opportunities. It is not an either or, but a case of checks and balances to produce reasonable outcomes for the majority of citizens without undue gains to one group to the detriment of the other.

]]> By: NFrazier http://aidwatchers.com/2009/04/the-answer-to-development-ignorance-more-complicated-advice-by-experts-or-more-freedom-for-entrepreneurs/comment-page-1/#comment-4849 NFrazier Tue, 14 Apr 2009 07:22:48 +0000 http://aidwatchers.com/2009/04/the-answer-to-development-ignorance-more-complicated-advice-by-experts-or-more-freedom-for-entrepreneurs/#comment-4849 Distributed control, especially within a stable macroeconomic environment, tends to produce higher growth rates. Centralized control, on the other hand, can lead to e.g. - supply chain inefficiencies. One might argue further that a system of purely distributed control ultimately teaches microeconomic agents to factor macroeconomic volatility into their decision making. Perhaps if the Fed had refused to allow real interest rates to fall below a certain bound from 1990 onwards, for example, deeper recessions then would have prevented the imbalances the world is facing today. Distributed control, especially within a stable macroeconomic environment, tends to produce higher growth rates. Centralized control, on the other hand, can lead to e.g. – supply chain inefficiencies.

One might argue further that a system of purely distributed control ultimately teaches microeconomic agents to factor macroeconomic volatility into their decision making. Perhaps if the Fed had refused to allow real interest rates to fall below a certain bound from 1990 onwards, for example, deeper recessions then would have prevented the imbalances the world is facing today.

]]> By: Moussa http://aidwatchers.com/2009/04/the-answer-to-development-ignorance-more-complicated-advice-by-experts-or-more-freedom-for-entrepreneurs/comment-page-1/#comment-4848 Moussa Mon, 13 Apr 2009 06:10:46 +0000 http://aidwatchers.com/2009/04/the-answer-to-development-ignorance-more-complicated-advice-by-experts-or-more-freedom-for-entrepreneurs/#comment-4848 These are compelling arguments. However, I have one concern with it: It is a fact that one has not been able to uncover the secrets of growth and/or to implement them, but does that necessarily mean that they cannot be uncovered? Many scientific progresses and innovations have taken pretty long to come to life. I believe that the research should continue to explore different directions and never assume impossibility on basis of complexity. Meanwhile, it is true that the best prescription today should be centered around the freedom as the post advocates for. These are compelling arguments. However, I have one concern with it:

It is a fact that one has not been able to uncover the secrets of growth and/or to implement them, but does that necessarily mean that they cannot be uncovered?

Many scientific progresses and innovations have taken pretty long to come to life. I believe that the research should continue to explore different directions and never assume impossibility on basis of complexity.

Meanwhile, it is true that the best prescription today should be centered around the freedom as the post advocates for.

]]> By: nick gogerty http://aidwatchers.com/2009/04/the-answer-to-development-ignorance-more-complicated-advice-by-experts-or-more-freedom-for-entrepreneurs/comment-page-1/#comment-4847 nick gogerty Mon, 13 Apr 2009 06:01:05 +0000 http://aidwatchers.com/2009/04/the-answer-to-development-ignorance-more-complicated-advice-by-experts-or-more-freedom-for-entrepreneurs/#comment-4847 It begs the question, if we can't "Stimulate" others economies, how can we stimulate our own? It begs the question, if we can’t “Stimulate” others economies, how can we stimulate our own?

]]> By: Rafe Champion http://aidwatchers.com/2009/04/the-answer-to-development-ignorance-more-complicated-advice-by-experts-or-more-freedom-for-entrepreneurs/comment-page-1/#comment-4846 Rafe Champion Mon, 13 Apr 2009 05:06:23 +0000 http://aidwatchers.com/2009/04/the-answer-to-development-ignorance-more-complicated-advice-by-experts-or-more-freedom-for-entrepreneurs/#comment-4846 Interesting, but predictable:) Interesting, but predictable:)

]]>