May
14
2010
Making Poor Nations Rich: Entrepreneurship and the Process of Economic Development
Posted by Blogmaster in Entrepreneurship, tags: Development, Economic, Entrepreneurship, Making, Nations, Poor, Process, Rich
Product Description
Why do some nations become rich while others remain poor? Traditional mainstream economic growth theory has done little to answer this question—during most of the twentieth century the theory focused on models that assumed growth was a simple function of labor, capital, and technology. Through a collection of case studies from Asia and Africa to Latin America and Europe, Making Poor Nations Rich argues for examining the critical role entrepreneurs and the institutional environment of private property rights and economic freedom play in economic development.
Making Poor Nations Rich begins by explaining how entrepreneurs create economic growth and why some institutional environments encourage more productive entrepreneurship than others. The volume then addresses countries and regions that have failed to develop because of barriers to entrepreneurship. Finally, the authors turn to countries that have developed by reforming their institutional environment to protect private property rights and grant greater levels of economic freedom.
The overall lesson from this volume is clear: pro-market reforms are essential to promoting the productive entrepreneurship that leads to economic growth. In countries where this institutional environment is lacking, sustained economic development will remain illusive.
Making Poor Nations Rich begins by explaining how entrepreneurs create economic growth and why some institutional environments encourage more productive entrepreneurship than others. The volume then addresses countries and regions that have failed to develop because of barriers to entrepreneurship. Finally, the authors turn to countries that have developed by reforming their institutional environment to protect private property rights and grant greater levels of economic freedom.
The overall lesson from this volume is clear: pro-market reforms are essential to promoting the productive entrepreneurship that leads to economic growth. In countries where this institutional environment is lacking, sustained economic development will remain illusive.
Making Poor Nations Rich: Entrepreneurship and the Process of Economic Development
Entries (RSS)
An excellent text or required reading for a course in social entrepreneurship, if only for those students with a thorough grounding in economics. Covering entrepreneurial, wealth-creating activities around the world, “Making poor nations rich” provides a useful sampling of efforts to eradicate poverty not through aid or poverty assistance programs but instead through creative capitalism and social entrepreneurship. Another good example of going well beyond giving a person a fish and, instead, helping her start a sustainable business. Wealth transfer and re-distribution are insufficient if well-intentioned remedies and globalization, free trade, and even some creative destruction are much more benevolent for the poor than they are often painted.
Rating: 4 / 5
“Making Poor Nations Rich” is a very good book. It consists of three main parts. The first part deals with institutions and entrepreneurship. The second part is about the importance of constrained entrepreneurship on economic development in Africa, Latin America, Scandinavia, and the transitional economies of the former USSR. The final part stresses the benefit of the reforms underlying the growth spurt in entrepreneurship in China and the Republic of Ireland, and the difficulties that challenge entrepreneurship in India, New Zealand, and Botswana.
If pressed to rank the sections of the book in descending order of their strengths, I would say: Foreword, Introduction, Part 1, Part 3, and Part 2. However, such an ordering is too subjective for a great book like this one. I give it 5-stars.
Amavilah, Author
Modeling Determinants of Income in Embedded Economies
ISBN: 1600210465
Rating: 5 / 5