This book analyzes the development of economic events in Japan, China, the NICs, Russia, Germany, Britain, and the United States of America during the second half of the twentieth century in an effort to uncover the variables that were determinant for the generation of economic growth. After analyzing numerous economic and non-economic variables, the author manages to identify a common denominator that was always present when there was growth and absent when there was stagnation. A strong causality linkage is established between this common denominator and growth. The book also demonstrates how this common set of variables can be easily manipulated by government policy in order to deliver fast and sustained economic growth. The book concludes with a clear set of macroeconomic policies for the attainment of fast, non-inflationary growth in developing countries, middle-income nations, transition economies, and developed countries. Despite its unorthodox position, the book endorses free trade, privatization, liberalization, fiscal rectitude, low inflation, central bank independence, proper governance, protection of the environment, and better income distribution. With this approach, the book offers a fresh new look on the problem of growth and offers hope that economic science will finally provide governments with an effective policy tool for the elimination of poverty and unemployment.
Since the earliest of times, human beings have endeavored to uncover the causes of prosperity. History is the best tool that society possesses for identifying and analyzing the factors that contribute to economic growth; yet economic statistics that lend themselves to comparison are hard to come by. Even academics who specialize in individual countries almost never present a set of statistics covering the whole 20th century - and for the previous centuries, the data is even more chaotic. Here, for the first time, the economic statistics of the world are presented in a rationalized format that allows for an easy comparison across countries and through time. Part One analyzes the most relevant ideas and theories that have been considered as causal variables of economic growth. It summarizes these ideas pedagogically and tests them against the historical data. The results of such analyses are highly troubling because they reveal an absence of correlation between theory and reality. Part Two presents a collection of statistics illustrating the development of the world economy during the last centuries. The data was extracted from economic, history and economic history books, from the publications of the World Bank, the Organization for Economic Cooperation and Development, the International Monetary Fund, the World Trade Organization, the United Nations' specialized agencies, research institutes and country statistical publications, and other books and journals. Analyzing the data over geography and time, Sabillon concludes that contrary to contemporary wisdom, left to market forces alone the economy will not and does not flourish. The factors that cause growth, he says, still need to bestudied with a fresh eye. This orderly and consistent presentation of statistics may be just the tool that helps future economic theorists to identify a reliable path to sustained growth. This analysis of the long-term historical development of the nations of the world is the culmination of a fourteen-year research project funded in part by the Swiss National Fund for Scientific Research, the Graduate Institute of International Studies in Geneva, Switzerland, and by the Geneva Business Institute. * Carlos Sabillon has an advanced degree from the Institute of International Studies (Geneva, Switzerland) in Economic History. His book Manufacturing, Technology, and Economic Growth was published by M.E. Sharpe Inc., 2000.
In a sweeping review of economic history, the author presents the salient facts of booms and slowdowns in the major economies of the world, in 50-year intervals and demonstrates the weakness of orthodox theories. The only factor that consistently causes growth, he shows, is centralized support for manufacturing, which spurs the creation of new technologies, which lead to wealth creation. Since the earliest of times, human beings have endeavored to uncover the causes of prosperity. Step by step, Sabillon tests the principal theories on the causes of economic growth against the facts of history. Here, economic statistics of the world are presented in a rationalized format that allows for comparison across countries and through time, with a challenge to those who study them to determine, with an open mind, what the statistics show and what are the trends -- beyond cherished theories that suit various political purposes. Tested against the historical data, textbook ideas and theories consistently come up short. Such analyses are highly troubling because they reveal an absence of correlation between theory and reality. The data, statistics illustrating the development of the world economy during the last several centuries, were extracted from economic, history and economic history books, from publications of the World Bank, the Organization for Economic Cooperation and Development, the International Monetary Fund, the World Trade Organization, the United Nations specialized agencies, research institutes and country statistical publications, and other books and journals. Analyzing the data over geography and time, Sabillon concludes that contrary to contemporary wisdom, left to market forces alone the economy will not and does not flourish. Only decisive intervention in support of manufacturing and technological advancement can provide growth. This systematic review of history and test of accepted dogma challenges economic theorists to consider one part of the equation of economic policy that has been wiped off the blackboard in today s politically-correct debates.
In a sweeping review of economic history, the author presents the salient facts of booms and slowdowns in the major economies of the world, in 50-year intervals and demonstrates the weakness of orthodox theories. The only factor that consistently causes growth, he shows, is centralized support for manufacturing, which spurs the creation of new technologies, which lead to wealth creation. Since the earliest of times, human beings have endeavored to uncover the causes of prosperity. Step by step, Sabillon tests the principal theories on the causes of economic growth against the facts of history. Here, economic statistics of the world are presented in a rationalized format that allows for comparison across countries and through time, with a challenge to those who study them to determine, with an open mind, what the statistics show and what are the trends -- beyond cherished theories that suit various political purposes. Tested against the historical data, textbook ideas and theories consistently come up short. Such analyses are highly troubling because they reveal an absence of correlation between theory and reality. The data, statistics illustrating the development of the world economy during the last several centuries, were extracted from economic, history and economic history books, from publications of the World Bank, the Organization for Economic Cooperation and Development, the International Monetary Fund, the World Trade Organization, the United Nations specialized agencies, research institutes and country statistical publications, and other books and journals. Analyzing the data over geography and time, Sabillon concludes that contrary to contemporary wisdom, left to market forces alone the economy will not and does not flourish. Only decisive intervention in support of manufacturing and technological advancement can provide growth. This systematic review of history and test of accepted dogma challenges economic theorists to consider one part of the equation of economic policy that has been wiped off the blackboard in today s politically-correct debates.
Since the earliest of times, human beings have endeavored to uncover the causes of prosperity. History is the best tool that society possesses for identifying and analyzing the factors that contribute to economic growth; yet economic statistics that lend themselves to comparison are hard to come by. Even academics who specialize in individual countries almost never present a set of statistics covering the whole 20th century - and for the previous centuries, the data is even more chaotic. Here, for the first time, the economic statistics of the world are presented in a rationalized format that allows for an easy comparison across countries and through time. Part One analyzes the most relevant ideas and theories that have been considered as causal variables of economic growth. It summarizes these ideas pedagogically and tests them against the historical data. The results of such analyses are highly troubling because they reveal an absence of correlation between theory and reality. Part Two presents a collection of statistics illustrating the development of the world economy during the last centuries. The data was extracted from economic, history and economic history books, from the publications of the World Bank, the Organization for Economic Cooperation and Development, the International Monetary Fund, the World Trade Organization, the United Nations' specialized agencies, research institutes and country statistical publications, and other books and journals. Analyzing the data over geography and time, Sabillon concludes that contrary to contemporary wisdom, left to market forces alone the economy will not and does not flourish. The factors that cause growth, he says, still need to bestudied with a fresh eye. This orderly and consistent presentation of statistics may be just the tool that helps future economic theorists to identify a reliable path to sustained growth. This analysis of the long-term historical development of the nations of the world is the culmination of a fourteen-year research project funded in part by the Swiss National Fund for Scientific Research, the Graduate Institute of International Studies in Geneva, Switzerland, and by the Geneva Business Institute. * Carlos Sabillon has an advanced degree from the Institute of International Studies (Geneva, Switzerland) in Economic History. His book Manufacturing, Technology, and Economic Growth was published by M.E. Sharpe Inc., 2000.
This book analyzes the development of economic events in Japan, China, the NICs, Russia, Germany, Britain, and the United States of America during the second half of the twentieth century in an effort to uncover the variables that were determinant for the generation of economic growth. After analyzing numerous economic and non-economic variables, the author manages to identify a common denominator that was always present when there was growth and absent when there was stagnation. A strong causality linkage is established between this common denominator and growth. The book also demonstrates how this common set of variables can be easily manipulated by government policy in order to deliver fast and sustained economic growth. The book concludes with a clear set of macroeconomic policies for the attainment of fast, non-inflationary growth in developing countries, middle-income nations, transition economies, and developed countries. Despite its unorthodox position, the book endorses free trade, privatization, liberalization, fiscal rectitude, low inflation, central bank independence, proper governance, protection of the environment, and better income distribution. With this approach, the book offers a fresh new look on the problem of growth and offers hope that economic science will finally provide governments with an effective policy tool for the elimination of poverty and unemployment.
A political dissident who was jailed and tortured by Uruguayas military regime, Carlos Liscano movingly recounts those experiences in Truck of Fools. His narrative, a mosaic of brief, powerful vignettes, offers unique insight into the physical and psychological plight of the prisoner, as well as into the mindset of his tormentors. Liscano survived these horrors to become a gifted writer and Uruguayas most well known novelist.
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