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The Bottom Billion: Why the Poorest Countries are Failing and What Can Be Done About It, by Paul Collier
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Review
"An important book."--Fareed Zakaria"Insightful and influential."--Newsweek"An acclaimed bestseller in 2007, and already a set text in development courses worldwide, Paul Collier's The Bottom Billion has far from exhausted its potential to change the way we think about, teach about, and legislate about global poverty...Its policy recommendations, many of which focus on empowering domestic actors, including through voluntary international standards to serve as rallying cries for reform movements, are not only pragmatic but also addressed squarely to the audience that matters most: the G8. It does not hurt its crossover appeal that The Bottom Billon is a model of good writing for the public understanding of social science."--Ethics & International Affairs (publication of the Carnegie Council)"Excellent...his key recommendations are right on the mark, and his message should resonate in the development discourse for years to come...Highly recommended."--CHOICE"This is a path-breaking work providing penetrating insights into the largely unexplored borderland between economics and politics."--George Soros"One of the most important books on world poverty in a very long time."--Richard John Neuhaus, founder of First Things Magazine"Provides a penetrating reassessment of why vast populations remain trapped in poverty, despite endless debate over foreign aid policy among wealthy countries and institutions."--Barbara McDougall, Jury Chair, The Lionel Gelber Prize, and Canada's Former Secretary of State for External Affairs"Workable development ideas are hard to find, but Professor Collier may have identified the next frontier for positive change."--Tyler Cowen, The New York Times"This slip of a book is set to become a classic of the 'how to help the world's poorest' genre. Crammed with statistical nuggets and common sense, his book should be compulsory reading for anyone embroiled in the hitherto thankless business of trying to pull people out of the pit of poverty where the 'bottom billion' of the world's population of 6.6 billion seem irredeemably stuck."--The Economist"If Sachs seems too saintly and Easterly too cynical, then Collier is the authentic old Africa hand: he knows the terrain and has a keen ear. As Collier rightly says, it is time to dispense with the false dichotomies that bedevil the current debate on Africa. If you've ever found yourself on one side or the other of those arguments - and who hasn't? - then you simply must read this book."--Niall Ferguson, The New York Times Book Review"Rich in both analysis and recommendations...Read this book. You will learn much you do not know. It will also change the way you look at the tragedy of persistent poverty in a world of plenty."--Financial Times"Terrifically readable." --Time.com
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About the Author
Paul Collier is Professor of Economics and Director of the Center for the Study of African Economies at Oxford University. Former director of Development Research at the World Bank, he is one of the world's leading experts on African economies, and is the author of Breaking the Conflict Trap, among other books.
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Product details
Paperback: 224 pages
Publisher: Oxford University Press, USA; 1 edition (August 22, 2008)
Language: English
ISBN-10: 0195373383
ISBN-13: 978-0195373387
Product Dimensions:
5.5 x 0.5 x 8.2 inches
Shipping Weight: 8 ounces (View shipping rates and policies)
Average Customer Review:
4.3 out of 5 stars
172 customer reviews
Amazon Best Sellers Rank:
#28,056 in Books (See Top 100 in Books)
For anyone who has ever visited a "failed state", an awful lot of Paul Collier's observations will resonate. What he accomplishes in this short and brilliant book is to put the phenomenon into context in an understandable way. While I think his proposed remedies may fall short, I feel I have gained a new clarity about the problem of those who are left behind in the new global economy, the ones who seem unable to break out of stagnation or precipitous decline (i.e. the bottom billion).Collier sees a series of serious obstacles (or "traps") that the bottom billion face. First, there is conflict: most of these countries are threatened with violence either from without or within. War is obviously detrimental to economic development, in particular as the bottom billion tend to get caught in the negative feedback loop of funding the military only to become victims of coups. Second, the possession of raw materials - the "natural resource trap" - does not help: not only they can they divert attention from necessary reforms, but they raise the value of local currencies, thereby choking off diversification of nascent sectors in the economy, e.g. manufacturing. Third, the bottom billion tend to be landlocked and hence dependent on neighbors, with whom they must intimately cooperate and coordinate. Fourth, they tend to suffer from chronic bad governance and poor policy choices. While brave reformers may emerge, Collier notes, they need skilled administrators and time to implement policies, both of which are rare to come by or sustain; indeed they often end up in exile or prison.Unfortunately, Collier observes, the tools for climbing out of this configuration of traps - many countries suffer from more than one, most of them in Africa - are difficult to apply. Aid can help to promote growth, but cannot suffice without private sector involvement; it is also subject to both diminishing returns and the habit of helping countries that are already doing pretty well. Furthermore, efforts to correct trade policies, in particular by tariff incentives against Asia that would nurture their manufacturing bases, are very difficult to implement, not to forget agree upon. This leaves military intervention for purposes of promoting stability and the formulation of "charters", new laws, and international regimes to promote development - also extremely problematic in any practical sense.Collier comes up with a combination of these remedies that I find unrealistically hopeful: charters (e.g. investment protocols for private investors), selective foreign military interventions in the service of regional stability, trade protection from the Asian manufacturing juggernaut, and specific types of aid (helping the worst off, taking more risks for innovative policies, the provision of able administrators in the crucial first years, and the like). Moreover, Collier suggests that a coalition of NGOs, governments, businesses, and governments must act in concert, with common goals and methods.It is very difficult for me to see how all of these forces could align in any sustained manner, particularly in the current political climate that seems to fall back on populist nationalism, but I suppose it doesn't hurt to try. A review this short cannot do justice to the breadth of Collier's vision, of course. Nonetheless, as he makes clear, many of these policies require massively complex coordination, not just globally but also regionally, according to which nation-states would agree on goals and pursue them, such as the development of logistical infrastructure in the furtherance of international trade. Would Nigeria by willing to invest in ports so that Niger could ferry its manufactured products to China?Recommended with enthusiasm. This book is essential to understanding international economics that takes politics into consideration.
I had to buy this book for class. I think that it is wonderfully written and definitely gives you insight into how undeveloped navigates and increasingly global and competitive economy. Often times the news makes is seen very black and white. If a nation would just do this it would succeed if " "if a nation would raise wages or invest in tech it would do better." The truth of the matter is, it really isn't that simple and there are a lot of factors that cause those in the "bottom billion" to struggle. This book really does highlight those issues in a way that is easy to understand, but also gets you thinking. I would recommend this book if you have any interest in international business, economics, politics or studies. It gives really good insight that may otherwise be glossed over in a class or on TV.
Already ten years old this book is still worth a read since the details are most likely still relevant to the bottom billion and perhaps others besides. In particular I note the relevant similarities to my own State of Alaska which is primarily a resource extracting state and has some of the characteristics of failing countries that Dr. Collier describes - though certainly Alaska has succeeded in saving funds for the rainy day we are in now due to the drop in oil prices. This book is loaded with detailed economic research. One thing I did notice missing though was information on global warming and its impact on those bottom billion - but this book was published in 2007 and I think much of the data on warming and its devastation of economies in those areas of Africa and the Middle East which elsewhere I read leads to migration and civil war over resources certainly should be part of this book if it is updated any time soon. On the whole the book is of course very negative in outlook though the last bit contains suggestions in each area discussed in the book regarding what we can do to help though of course in explaining each of these areas of concern Paul Collier and his assistants have done a pretty thorough job of explaining how difficult all of those ideas would be to put into place. Still, very informative and interesting.
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