First World, Third World [Hardcover]

This new updated and extended edition of First World, Third World examines the failures of aid to eliminate poverty. The world development effort can claim only limited success, and in some parts of the world, especially Africa, failure must be recognised. William Ryrie, while starting from a position of sympathy with the aims of the aid effort, insists that the record must be analysed with ruthless honesty. Well-intentioned aid has often had perverse and harmful effects. One of these has been to undermine the working of the market economy, which offers the best hope for development and growth. His book proposes a new approach to the development task which would reconcile it with market philosophies.List of Tables and Figures Foreword to the Second Edition Acknowledgements Introduction Half a Century of International Development Success or Failure The Illusion of State-Managed Development The Market Revolution Global Capital Flows Is Capitalism Right for the Third World? Re-Inventing Aid The International Finance Corporation What Future for the World Bank and IMF? The Collapse of the Second World Where Now? Twenty Propositions about Development and Aid Notes and References Index

'Ryrie makes no effort to justify or excuse the disappointing results of billions of dollars to aid the Third World since the end of the WW II. To the contrary, he provides the perfect blend of inside perspective and academic objectivity...Ryrie accomplishes a great deal in this book. Not only does he analyse the past; he also takes the lessons from his analysis and transfers them to clear inscriptions for the future...This is one of the best books this reviewer has ever read in the entire literature of international economic development.' - A. Barrett, Choice

'Bill Ryrie has exposed very clearly the dilemmas now facing aid and development organisations. He makes an overwhelming case for supporting the market economies of developing countries - just as he did, in prl;