Skip to main content

Posts

Showing posts from November 7, 2008

The Bottom Billion

The Bottom Billion By Paul Collier, A Professor of Economics at Oxford University is a very elaborate piece of work that clearly nails down the issues that drags the economies of the developing world and in particular “the bottom million” economies. You may be wondering what the “bottom billion” is, it simply refers to countries whose their economies has stagnated for the last 40 years and they account of one-sixth of the world population. As you may be aware that our world has a population of 6 billion people. If you care about poverty in the world this one is a must read book. Professor Collier lays down the main hindrances to economic growth in the countries of the bottom billion as he refers to them as traps and I will list them here: 1. The Conflict Trap – he explains that all societies have conflict, but they can trap a country in poverty. - I agree with Professor Collier that Civil war is costly and so is a coup d’état, very challenging to recover from especially if a country e