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  • Jeffrey Sachs School of Thought: Different Approaches To Combating Poverty

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    Marco Alonso Meyer
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    There are differing views on combating poverty through foreign aid. Jeffrey Sachs believes foreign aid is necessary to reduce poverty and promote development, while William Easterly argues foreign aid has been a massive failure. Development economics focuses on efficient resource allocation and growth over time, examining what happens when markets and information are imperfect and the economic, social, political, and institutional mechanisms needed to improve living standards for the poor.

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    There are differing views on combating poverty through foreign aid. Jeffrey Sachs believes foreign aid is necessary to reduce poverty and promote development, while William Easterly argues foreign aid has been a massive failure. Development economics focuses on efficient resource allocation and growth over time, examining what happens when markets and information are imperfect and the economic, social, political, and institutional mechanisms needed to improve living standards for the poor.

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    22 views1 page

    Jeffrey Sachs School of Thought: Different Approaches To Combating Poverty

    Uploaded by

    Marco Alonso Meyer
    There are differing views on combating poverty through foreign aid. Jeffrey Sachs believes foreign aid is necessary to reduce poverty and promote development, while William Easterly argues foreign aid has been a massive failure. Development economics focuses on efficient resource allocation and growth over time, examining what happens when markets and information are imperfect and the economic, social, political, and institutional mechanisms needed to improve living standards for the poor.

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    ·Different approaches to combating poverty

    • Jeffrey Sachs school of thought:

    • Foreign aid is necessary for reducing poverty and promoting development


    William Easterly school of thought:

    • Foreign aid has been a massive failure

    • Development economics:

    • Focus on efficient allocation of resources AND their growth over time.

    • What happens when markets and information aren’t perfect?

    • Economic, social, political, and institutional mechanisms necessary to bring


    about improvements in levels of living for the poor.

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