About Aid Watch
The Aid Watch blog is a project of New York University's Development Research Institute (DRI). This blog is principally written by William Easterly, author of "The Elusive Quest for Growth: Economists' Adventures and Misadventures in the Tropics" and "The White Man's Burden: Why the West's Efforts to Aid the Rest Have Done So Much Ill and So Little Good," and Professor of Economics at NYU. It is co-written by Laura Freschi and by occasional guest bloggers. Our work is based on the idea that more aid will reach the poor the more people are watching aid.
"Conscience is the inner voice that warns us somebody may be looking." - H.L. Mencken
- Rukmini on Aid Watch blog ends; New work on development begins : This has been a valuable resource for me and I’m sorry to see it...
- Jesse on From Hell to Prosperity: I would like to see this graph with a comparative one which shows the number of people in each religion...
- Ellie on Aid Watch blog ends; New work on development begins : Sad to see you go, but I certainly respect the decision. Hope it is...
- Vivek Nemana on From Hell to Prosperity: Jeff, Well, the billionaire effect might explain a disproportionately high mean income, but...
- M on Aid Watch blog ends; New work on development begins : I agree that Bill and Laura should think about how they can get their message...
- Mr. Econotarian on Are Lax US Gun Laws Spilling Violence into Mexico? : The paper says: “DHS data gives the number of illegal...
Bill Easterly tweets
- So sorry to hear about Turkey violence; Sympathy to the victims and to the cause of democracy. http://t.co/q3aMGKqJnt 07:01:19 PM June 11, 2013 from bitly ReplyRetweetFavorite
- I'm a little unclear on how they established causality from the Chicago mayor to the murder rate http://t.co/lASzN2F7G8 06:12:10 PM June 11, 2013 from bitly ReplyRetweetFavorite
- The Natural Effort to Better One’s Conditions - can't miss event tomorrow http://t.co/gnjUehxZIk 09:28:43 PM June 10, 2013 from bitly ReplyRetweetFavorite
- Hello, our government, this is a good moment to explain just what democratic checks and balances do now constrain the NSA. 05:12:56 PM June 10, 2013 from web ReplyRetweetFavorite
Aid Watch tweets
- Whoa. "Is this the most beautiful excel spreadsheet in history?" http://t.co/EEWpAQQHIG via @cblatts 09:10:05 PM June 11, 2013 from Buffer ReplyRetweetFavorite
- "The drug war in Mexico has claimed twice as many lives than the conflicts in Iraq and Afghanistan" http://t.co/5PBheCCpvA via @Guardian 08:50:13 PM June 11, 2013 from Buffer ReplyRetweetFavorite
- Some harsh, and debatable, statements: "Africa's Lesson in Self-Reliance" http://t.co/L0cKQn0Cmh via @nytimes 08:21:03 PM June 11, 2013 from Buffer ReplyRetweetFavorite
- Every rose has its thorn. Some roses also have toxic chemicals and sexual abuse. http://t.co/NBMk2gm2GD via @TheHumanosphere 01:03:10 PM June 11, 2013 from Buffer ReplyRetweetFavorite
Category Archives: Economics principles
UPDATE: 3:30pm links to other reviews (all great) of the Fukuyama review at end of this post
F.A. Hayek continues to be the most mis-characterized economist of all time. As if Glenn Beck were not doing enough damage, now even someone I greatly respect — Frank Fukuyama– has gotten Hayek wrong yet again. In a review of a new edition of the Constitution of Liberty in the NYT book review, Fukuyama says at the end:
In the end,
UPDATE 12:50PM: Please assume I’m an idiot (see end of post)
Many have suffered from being in a building where there was a centralized thermostat for the whole building (or the whole floor), with the predictable result that some rooms are way too hot or way too cold. (Sounds like a metaphor, watch for it…)
Things were even more extreme in the former Soviet Union, where there were centralized heating plants for a whole city, and the hot…
UPDATE: Thanks to the commenters who confirmed the “hostile reactions” thesis while disavowing hostility :>)… By the way, I am surprised nobody has yet mentioned that blogs, Twitter, Facebook, etc. are superb examples of Spontaneous Order.
I was surprised by hostile reactions to mentioning complexity on the Ivory Coast coup debate. Of course, I dish out hostility like water myself, so it’s only fair that I got accused of mindlessly mumbling complexity to sound trendy.
Substitutability: there is no substitute for learning this wonky concept if you want your project to succeed
The debate we had on the HDI brought up the seemingly drop-dead boring jargon “substitutability.” Surprise! This actually turns out to be a USEFUL concept.
Consider two extremes in an everyday example. For producing the output: “weird music that Bill listens to,” my iPod and my iPhone are perfect substitutes, so one is redundant for this purpose (forget about other purposes for now). For producing this same output, headphones and the iPod are NOT…
UPDATE: out of 188 recorded songs on all Beatles albums, how many are now hits on iTunes? See end of post.
This a 20 minute extemporaneous talk at UNICEF headquarters in New York on the topic of “Inclusive Growth”. After the talk, there is a question, comment, and response session with the audience. The full video is an hour, if you are really a masochist. (Try this link if the video player above doesn’t work.)…
UPDATE: just got the question on Twitter: “what does this have to do with development?” Answer: nothing, except that you will never understand development if you are so quick to ask that question.
When I first saw this map, I immediately thought legalize pot! what a great teaching tool for my Intro students! So students, please explain using the concepts of supply, demand, and transport costs (including in this case smuggling costs)…
UPDATE 4: thanks to all the critics on this post, too bad I couldnt get Chinese censoring technology to work:)
UPDATE 3: 9:30am Sat 10/9: links to Nobel Peace Prize and Charter ’08
UPDATE 2: 1:30pm. New Yorker writer Evan Osnos generously replies to my criticisms (see end of post)
SCOREBOAD UPDATE 10 AM 10/8: understanding key to China’s future development: Nobel Committee 1, New Yorker 0; Liu Xiaobo 1, Justin Lin, 0.
[T]here are two technologies for producing automobiles in America. One is to manufacture them in Detroit, and the other is to grow them in Iowa.
Here’s the detailed technology by which you grow cars in Iowa:
First you plant seeds, which are the raw material from which automobiles are constructed. You wait a few months until wheat appears. Then you harvest the wheat, load it onto ships, and sail the ships eastward into the
Today, for the first time in my professional career I taught Principles of Economics. I’ll be teaching this all semester long and giving occasional reports from the classroom.
The officially required duty of all Principles instructors is to first define economics. Here is the definition from the 18th edition of McConnell, the most popular text on the market and actually the exact same text I used in my own first econ class 35 years ago:
Tyler Cowen has a great NYT column today about the harmful distortions caused by “free” parking.
Manhattan offers plenty more ammunition to his case. Both sides of most crosstown numbered streets (17th, 18th, etc.) are devoted to “free” parking, which adds to traffic gridlock by creating one-lane streets, frequently blocked by delivery vans or by stopped taxis. Those using those “free” slots have to expend a lot of effort to keep moving their cars…