PLSC 270: Capitalism: Success, Crisis and Reform
Lecture 19 - Plight of the Bottom Billion. In a pre-recorded lecture, Professor Rae discusses problems with using gross domestic product (GDP) as a measure for societal well-being. For example, GDP fails to capture wealth inequality and socially undesirable conditions that can increase GDP. He then touches on some of the "traps" presented in Paul Collier's book, The Bottom Billion, that are keeping the poorest of the developing countries mired in poverty. In the second half of lecture, a video of Paul Collier is shown in which the author urges the developed world to take as a model America's reconstruction package to post-WWII Europe. According to Collier, the developed world must rethink its aid and trade policies toward the developing world. Collier also discusses the relationship between democracy and the so-called "resource curse," and how the rich world can create institutions to support reformers in the poorest countries. (from oyc.yale.edu)
| Lecture 19 - Plight of the Bottom Billion |
| Time | Lecture Chapters |
| [00:00:00] | 1. Introduction and Class Agenda |
| [00:00:31] | 2. Video: Professor Douglas W. Rae on Paul Collier's "The Bottom Billion" |
| [00:29:48] | 3. Video: Paul Collier on "The Bottom Billion" |
| References |
| Lecture 19 - Plight of the Bottom Billion Instructor: Professor Douglas W. Rae. Transcript [html]. Audio [mp3]. Download Video [mov]. |
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