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The Power of Productivity : Wealth, Poverty, and the Threat to Global Stability
by William W. Lewis
In “The Power of Productivity,”  William W. Lewis, the director emeritus of the McKinsey Global Institute, provides powerful and controversial answers to why so many people still live in poverty despite the billions of dollars that international instutions have pumped into these nations in recent decades.  Lewis, drawing on extensive microeconomic studies of thirteen nations over twelve years--conducted by the Institute itself--to counter virtually all prevailing wisdom about how best to ameliorate economic disparity. Lewis's research, which included studying everything from state-of-the-art auto makers to black-market street vendors and mom-and-pop stores, conclusively demonstrates that, contrary to popular belief, providing more capital to poor nations is not the best way to help them. Nor is improving levels of education, exchange-rate flexibility, or government solvency enough. Rather, the key to improving economic conditions in poor countries, argues Lewis, is increasing productivity through intense, fair competition and protecting consumer rights.
Details
Issue: Development and Globalization
Publisher: University of Chicago
Publish Date: 16 Apr 2020
Number of Pages: 370
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