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Aid to Africa
So Much To Do, So Little Done
Carol Lancaster
University of Chicago Press, 1999
Why, despite decades of high levels of foreign aid, has development been so disappointing in most of Sub-Saharan Africa, leading to rising numbers of poor and fueling political instabilities? While not ignoring the culpability of Africans in these problems, Carol Lancaster finds that much of the responsibility is in the hands of the governments and international aid agencies that provide assistance to the region. The first examination of its kind, Aid to Africa investigates the impact of bureaucratic politics, special interest groups, and public opinion in aid-giving countries and agencies. She finds that aid agencies in Africa often misdiagnosed problems, had difficulty designing appropriate programs that addressed the local political environment, and failed to coordinate their efforts effectively.

This balanced but tough-minded analysis does not reject the potential usefulness of foreign aid but does offer recommendations for fundamental changes in how governments and multilateral aid agencies can operate more effectively.


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Assisting Development in a Changing World
The Harvard Institute for International Development, 1980-1995
Dwight H. Perkins
Harvard University Press, 1997

For over forty years the Harvard Institute for International Development (HIID) has worked with countries in the developing world on the complex issues of economic and social reform. This volume describes the experience of the Institute in the challenging development assistance world of the 1980s and early 1990s, when HIID's largest projects involved work with countries attempting to move away from high levels of government intervention to more market-friendly systems. These efforts involved work in formerly centrally planned command economies (e.g., Russia, Vietnam, etc.) as well as in the mixed plan/market economies of Asia, Africa, and Latin America. The book also describes HIID's efforts in education and health reform as well as in the rapidly expanding area of environmental economics and policy.

Assisting Development in a Changing World is an unvarnished account written by the HIID practitioners who participated in these programs and edited by its former director and executive directors.


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Capitalist Humanitarianism
Lucia Hulsether
Duke University Press, 2023
The struggle against neoliberal order has gained momentum over the last five decades---to the point that economic elites have not only adapted to the Left's critiques but incorporated them for capitalist expansion. Venture funds expose their ties to slavery and pledge to invest in racial equity. Banks pitch microloans as a path to indigenous self-determination. Fair-trade brands narrate consumption as an act of feminist solidarity with women artisans in the global South. In Capitalist Humanitarianism Lucia Hulsether examines these projects and the contexts of their emergence. Blending historical and ethnographic styles, and traversing intimate and global scales, Hulsether tracks how neoliberal self-critique creates new institutional hegemonies that, in turn, reproduce racial and neocolonial dispossession. From the archives of Christian fair traders to luxury social entrepreneurship conferences, from US finance offices to Guatemalan towns flooded with their loan products, from service economy desperation to the internal contradictions of social movements, Hulsether argues that capitalist humanitarian projects are fueled as much by a profit motive as by a hope that racial capitalism can redeem the losses that accumulate in its wake.

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Carrots, Sticks, and Ethnic Conflict
Rethinking Development Assistance
Milton J. Esman and Ronald J. Herring, Editors
University of Michigan Press, 2003
Development assistance employs carrots and sticks to influence regimes and obtain particular outcomes: altered economic policies, democratization, relief of suffering from catastrophes. Wealthy nations and international agencies such as the World Bank justify development assistance on grounds of improving the global human condition. Over the last forty years, however, ethnic conflict has increased dramatically. Where does ethnic conflict fit within this set of objectives? How do the resources, policy advice, and conditions attached to aid affect ethnic conflict in countries in which donors intervene? How can assistance be deployed in ways that might moderate rather than aggravate ethnic tensions?
These issues are addressed comparatively by area specialists and participant-observers from development assistance organizations. This book is the first systematic effort to evaluate this dimension of international affairs--and to propose remedies. Case studies include Russia, Ecuador, Sri Lanka, and Kenya, with references to many other national experiences.
Cross-cutting chapters consider evolution of USAID and the World Bank's policies on displacement of people by development projects, as well as how carrots and sticks may affect ethnic dynamics, but through different mechanisms and to varying degrees depending on political dynamics and regime behaviors. They show that projects may also exacerbate ethnic conflict by reinforcing territoriality and exposing seemingly unfair allocative principles that exclude or harm some while benefiting others.
For students of international political economy, development studies, comparative politics, and ethnic conflict, this book illuminates a problem area that has long been overlooked in international affairs literature. It is essential reading for staff members and policymakers in development assistance agencies and international financial institutions.
Milton J. Esman is the John S. Knight Professor of International Studies, Emeritus, and Professor of Government, Emeritus, at Cornell University.
Ronald J. Herring is Director of the Mario Einaudi Center for International Studies at Cornell, the John S. Knight Professor of International Relations, and Professor of Government at Cornell University.

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Chicago Essays in Economic Development
David Wall
University of Chicago Press, 1972
What happens when the methods of the Chicago school of economics are applied to development problems? By collecting fifteen prime examples for this volume, David Wall has shown that these methods go a long way toward the clarification and solution of the economic problems faced by the world's underdeveloped countries. The contributors, all members of the Department of Economics at the University of Chicago, are Theodore Schultz, Harry G. Johnson, Arnold C. Harberger, Bert F. Hoselitz, and Larry A. Sjaastad, and D. Gale Johnson.

These Chicago economists share a common intellectual framework universally recognized in the profession and derived from three beliefs: first, that theory is of fundamental importance; second, that theory is irrelevant unless set in a definite empirical context; and third, that in the absence of evidence to the contrary, the market works. Critics of the Chicago school tend to ignore the first two of these and to overlook the qualifying proviso of the third. This volume sets out to rectify that misunderstanding and to circulate more widely some of the best work produced by the Chicago school.

The essays in the opening "general" section clearly illustrate the characteristics of the Chicago school while also reflecting some well-known idiosyncrasies of four of its more prominent spokesmen. The other two sections, "Domestic Policy" and "Trade and Aid," cover topics on which Chicago authors have made a marked impact. Together, these essays will provide a basic reference book for students of the subject, illustrating one of the leading methods of analyzing economic development problems.

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Cultivating Development
An Ethnography of Aid Policy and Practice
David Mosse
Pluto Press, 2005

Development agencies and researchers are preoccupied with policy; with exerting influence over policy, linking research to policy and with implementing policy around the world.

But what if development practice is not driven by policy? Suppose that the things that make for 'good policy' - policy that legitimises and mobilises political support - in reality make it impossible to implement?

By focusing in detail on the unfolding activities of a development project in western India over more than ten years, as it falls under different policy regimes, this book takes a close look at the relationship between policy and practice in development.

David Mosse shows how the actions of development workers are shaped by the exigencies of organisations and the need to maintain relationships rather than by policy; but also that development actors work hardest of all to maintain coherent representations of their actions as instances of authorised policy. Raising unfamiliar questions, Mosse provides a rare self-critical reflection on practice, while refusing to endorse current post-modern dismissal of development.


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Dead Ends of Transition
Rentier Economies and Protectorates
Edited by Michael Dauderstädt and Arne Schildberg
Campus Verlag, 2006
After war, many countries, such as Bosnia, Kosovo, Afghanistan, or Iraq, the transition to a democratic market economy extremely difficult. This failure to thrive, Dead Ends of Transition demonstrates, is often the result of national reliance on foreign aid. Rentier states, the contributors to this study argue, have few incentives to respond to the needs of their societies. Taking a closer look at the policies of rentier economies, this book further identifies new ways in which these countries and their international partners could work together to ease the critical transition to democracy.

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Defensive Internationalism
Providing Public Goods in an Uncertain World
Davis B. Bobrow and Mark A. Boyer
University of Michigan Press, 2005
"The authors' carefully crafted analysis will influence thought and the policy debate on the tradeoff between unilateralism and multilateralism for decades to come."
-Todd Sandler, Robert R. and Katheryn A. Dockson Professor of International Relations & Economics, University of Southern California

"Boyer and Bobrow's well-written, data-rich analysis of such pressing issues as development assistance, debt management, UN peacekeeping, and environmental protection makes Defensive Internationalism a highly original and provocative contribution to the study of global governance."
-Yale H. Ferguson, Co-Director, Center for Global Change and Governance, Rutgers University

In this pathbreaking study, authors Davis B. Bobrow and Mark A. Boyer argue for "muted optimism" about the future of international cooperation. Leaders of a growing movement that integrates constructivism into traditional international studies concepts and methods, Bobrow and Boyer analyze four key international issues: development cooperation, debt management, peacekeeping operations, and environmental affairs. Their approach integrates elements of public goods theory, identity theory, new institutionalism, and rational choice. Defensive Internationalism is a well-written, creative and coherent synthesis of ideas that have up to now been considered irreconcilable. It is appropriate for upper-level undergraduate and graduate students in international relations, conflict studies, and political economy, and promises to become a foundational work in its field.

Davis B. Bobrow is Professor of Public and International Affairs and Political Science at the University of Pittsburgh.

Mark A. Boyer is Professor of Political Science at the University of Connecticut.


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Despite Good Intentions
Why Development Assistance to the Third World Has Failed
Thomas W. Dichter
University of Massachusetts Press, 2003
For more than thirty-five years, Thomas W. Dichter has worked in the field of international development, managing and evaluating projects for nongovernmental organizations, directing a Peace Corps country program, and serving as a consultant for such agencies as USAID, UNDP, and the World Bank. On the basis of this extensive and varied experience, he has become an outspoken critic of what he terms the "international poverty alleviation industry." He believes that efforts to reduce world poverty have been well-intentioned but largely ineffective. On the whole, the development industry has failed to serve the needs of the people it has sought to help.

To make his case, Dichter reviews the major trends in development assistance from the 1960s through the 1990s, illustrating his analysis with eighteen short stories based on his own experiences in the field. The analytic chapters are thus grounded in the daily life of development workers as described in the stories.

Dichter shows how development organizations have often become caught up in their own self-perpetuation and in public relations efforts designed to create an illusion of effectiveness. Tracing the evolution of the role of money (as opposed to ideas) in development assistance, he suggests how financial imperatives have reinforced the tendency to sponsor time-bound projects, creating a dependency among aid recipients. He also examines the rise of careerism and increased bureaucratization in the industry, arguing that assistance efforts have become disconnected from important lessons learned on the ground, and often lessons of world history.

In the end, Dichter calls for a more light-handed and artful approach to development assistance, with fewer agencies and experts involved. His stance is pragmatic, rather than ideological or political. What matters, he says, is what works, and the current practices of the development industry are simply not effective.

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Doing Good or Doing Better
Development Policies in a Globalizing World
Edited by Monique Kremer, Peter van Lieshout, and Robert Went
Amsterdam University Press, 2009

What drives development? What new issues have arisen due to globalization? And what kind of policies contribute to development in a rapidly changing world? The studies in Doing Good or Doing Better analyze the different development strategies employed on various continents, address current challenges, and argue that a new approach—one different from the European and American models—is necessary in a globalizing, interdependent world.


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Economic Statecraft
Human Rights, Sanctions, and Conditionality
Cécile Fabre
Harvard University Press, 2018

At least since Athenian trade sanctions helped to spark the Peloponnesian War, economic coercion has been a prominent tool of foreign policy. In the modern era, sovereign states and multilateral institutions have imposed economic sanctions on dictatorial regimes or would-be nuclear powers as an alternative to waging war. They have conditioned offers of aid, loans, and debt relief on recipients’ willingness to implement market and governance reforms. Such methods interfere in freedom of trade and the internal affairs of sovereign states, yet are widely used as a means to advance human rights. But are they morally justifiable?

Cécile Fabre’s Economic Statecraft: Human Rights, Sanctions, and Conditionality provides the first sustained response to that question. For millennia, philosophers have explored the ethics of war, but rarely the ethics of economic carrots and sticks. Yet the issues raised could hardly be more urgent. On what grounds can we justify sanctions, in light of the harms they inflict on civilians? If, as some argue, there is a human right to basic assistance, should donors be allowed to condition the provision of aid on recipients’ willingness to do their bidding?

Drawing on human rights theories, theories of justifiable harm, and examples such as IMF lending practices and international sanctions on Russia and North Korea, Fabre offers a defense of economic statecraft in some of its guises. An empirically attuned work of philosophy, Economic Statecraft lays out a normative framework for an important tool of diplomacy.


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Foreclosing the Future
The World Bank and the Politics of Environmental Destruction
Bruce Rich
Island Press, 2013
World Bank President Jim Yong Kim has vowed that his institution will fight poverty and climate change, a claim that World Bank presidents have made for two decades. But if worldwide protests and reams of damning internal reports are any indication, too often it does just the opposite. By funding development projects and programs that warm the planet and destroy critical natural resources on which the poor depend, the Bank has been hurting the very people it claims to serve. What explains this blatant contradiction?

If anyone has the answer, it is arguably Bruce Rich—a lawyer and expert in public international finance who has for the last three decades studied the Bank’s institutional contortions, the real-world consequences of its lending, and the politics of the global environmental crisis. What emerges from the bureaucratic dust is a disturbing and gripping story of corruption, larger-than-life personalities, perverse incentives, and institutional amnesia. The World Bank is the Vatican of development finance, and its dysfunction plays out as a reflection of the political hypocrisies and failures of governance of its 188 member countries.

Foreclosing the Future shows how the Bank’s failure to address the challenges of the 21st Century has implications for everyone in an increasingly interdependent world. Rich depicts how the World Bank is a microcosm of global political and economic trends—powerful forces that threaten both environmental and social ruin. Rich shows how the Bank has reinforced these  forces, undercutting the most idealistic attempts at alleviating poverty and sustaining the environment, and damaging the lives of millions. Readers will see global politics on an increasingly crowded planet as they never have before—and come to understand the changes necessary if the World Bank is ever to achieve its mission.

To review the references and notes with links to articles, please click on the "Resources" tab at


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Foreign Aid
Diplomacy, Development, Domestic Politics
Carol Lancaster
University of Chicago Press, 2006

A twentieth-century innovation, foreign aid has become a familiar and even expected element in international relations. But scholars and government officials continue to debate why countries provide it: some claim that it is primarily a tool of diplomacy, some argue that it is largely intended to support development in poor countries, and still others point out its myriad newer uses. Carol Lancaster effectively puts this dispute to rest here by providing the most comprehensive answer yet to the question of why governments give foreign aid. She argues that because of domestic politics in aid-giving countries, it has always been—and will continue to be—used to achieve a mixture of different goals. 

Drawing on her expertise in both comparative politics and international relations and on her experience as a former public official, Lancaster provides five in-depth case studies—the United States, Japan, France, Germany, and Denmark—that demonstrate how domestic politics and international pressures combine to shape how and why donor governments give aid. In doing so, she explores the impact on foreign aid of political institutions, interest groups, and the ways governments organize their giving. Her findings provide essential insight for scholars of international relations and comparative politics, as well as anyone involved with foreign aid or foreign policy.


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From the Local to the Global, Third Edition
Key Issues in Development Studies
Edited by Gerard McCann and Stephen McCloskey
Pluto Press, 2015
In recent years, the international development sector has found itself confronting new and persistent challenges to poverty eradication and the promotion of human rights. From The Local to the Global highlights the extent to which the local and global are interconnected in today’s world economy and questions the legitimacy of the neo-liberal model of development that they argue has propelled us into the crisis.
            This completely revised third edition takes stock of the international development environment as it embarks on new policy frameworks to confront new challenges, ensuring that From the Local to the Global will continue to serve as an indispensable introduction to key development issues such as aid, debt, trade, migration, security, gender, and climate change.

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Helping People Help Themselves
From the World Bank to an Alternative Philosophy of Development Assistance
David Ellerman
University of Michigan Press, 2006

David Ellerman relates a deep theoretical groundwork for a philosophy of development, while offering a descriptive, practical suggestion of how goals of development can be better set and met. Beginning with the assertion that development assistance agencies are inherently structured to provide help that is ultimately unhelpful by overriding or undercutting the capacity of people to help themselves, David Ellerman argues that the best strategy for development is a drastic reduction in development assistance. The locus of initiative can then shift from the would-be helpers to the doers (recipients) of development. Ellerman presents various methods for shifting initiative that are indirect, enabling and autonomy-respecting. Eight representative figures in the fields of education, community organization, economic development, psychotherapy and management theory including: Albert Hirschman, Paulo Freire, John Dewey, and Søren Kierkegaard demonstrate how the major themes of assisting autonomy among people are essentially the same.

David Ellerman is currently a Visiting Scholar in the Economics Department at the University of California at Riverside.


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The Ills of Aid
An Analysis of Third World Development Policies
Eberhard Reusse
University of Chicago Press, 2002
With this book, Eberhard Reusse channels thirty years of experience with international aid programs into the task of both diagnosing the problems afflicting these programs and formulating a possible cure. Supporting his analysis with detailed case studies of two rural development programs in Africa—the United Nations’ "War on Waste" and cereal banks for small-farmer communities—Reusse reveals a system riddled with flaws. Impatient assumptions, belated and often suppressed recognition of their invalidity, and the perpetuation of unsuitable programs over decades—all are characteristic of the system. Local populations "fail" to participate in programs, or their accumulated firsthand knowledge is ignored and marginalized. Development experts make misjudgments or are adversely pressured by funding concerns. Programs are unevaluated and unaccountable to donors, perpetuating themselves long after they’re proved ineffective or inefficient. And throughout the book, Reusse demonstrates the principal systemic flaw: unrealistic interventionist paradigms—that is, Western notions of Third World realities that misidentify needs for intervention—at the root of most inappropriate development policies. The problems continue to this day.

Very few critiques of foreign development aid have approached the subject from the perspectives of organizational, rural, or epistemic sociology. The Ills of Aid combines all three, and points toward fundamental solutions: more direct accountability to the primary funding base—the international taxpayer—and the privatization of aid. Learned, pragmatic, and important, The Ills of Aid is essential reading for all in the field.Organization, other international and bilateral development programs, and development financing institutions. His field experience embraces more than forty countries.

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Invested Interests
Capital, Culture, and the World Bank
Bret Benjamin
University of Minnesota Press, 2007

Despite the World Bank’s profound impact on economic, political, and social conditions during the post–World War II era, cultural critics who rigorously theorize other institutions of colonialism and globalization have largely ignored the institution. Working to correct this blind spot, Bret Benjamin’s Invested Interests presents the first extended cultural analysis of the World Bank.

In Invested Interests, Benjamin contends that the World Bank has, from its inception, trafficked in culture. From the political context in which the Bank was chartered to its evolution into an interventionist development agency with vast, unchecked powers, Benjamin explores the Bank’s central role in the global dissemination of Fordist-Keynesianism, its conflicted support for nationalism and the nation-state, and its emerging awareness of the relationships between economics and culture. Benjamin argues that the Bank shapes, and is in turn shaped by, historical pressures of the age—most significantly the rise of third world national liberation movements. Reading a broad array of midcentury archival materials, Benjamin examines not only the Bank’s own growing attentiveness to cultural work but also its prominent place in the thinking of such anti-imperialist intellectuals as Aimé Césaire, Frantz Fanon, and Richard Wright.

Benjamin maps the Bank’s contemporary rhetorical maneuvering in the wake of ever-intensifying protests, offering close readings of the World Bank’s corporate literature, the activities of the antiglobalization World Social Forum, and the writings of prominent Bank critic Arundhati Roy, including her novel The God of Small Things.

Deftly investigating the World Bank’s ideological struggles over six decades, Invested Interests develops a conceptually and politically nuanced critique of the Bank as a cultural institution deeply enmeshed in the last century’s historical transformations of imperial power and anti-imperial struggle.

Bret Benjamin is associate professor of English and director of undergraduate studies at the University of Albany, SUNY.


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Mortgaging the Earth
The World Bank, Environmental Impoverishment, and the Crisis of Development
Bruce Rich
Island Press, 2013
The 1992 Rio Earth Summit was supposed to be a turning point for the World Bank. Environmental concerns would now play a major role in its lending—programs and projects would go beyond economic development to “sustainable development.” More than two decades later, efforts to green the bank seem pallid.

 Bruce Rich argues that the Bank’s current institutional problems are extensions of flaws that had been present since its founding. His new book, Foreclosing the Future, tells the story of the Bank from the Rio Earth Summit to today. For readers who want the full history of the Bank’s environmental record, Rich’s acclaimed 1994 critique, Mortgaging the Earth, is an essential companion.

Called a “detailed and thought-provoking look at an important subject” by The New York Times, Mortgaging the Earth analyzes the twenty year period leading up the Rio Summit. Rich offers not only an important history but critical insights about economic development that are ever-more relevant today.


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Multilateral Institutions
A Critical Introduction
Morten Boas and Desmond McNeill
Pluto Press, 2003

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The Price of Aid
The Economic Cold War in India
David C. Engerman
Harvard University Press, 2018

“A superb, field-changing book…A true classic.”
—Sunil Amrith

“Makes a major contribution towards a necessary discussion of the politics of aid.”
Times Higher Education

Debates over foreign aid are often strangely ahistorical. Economists argue about effectiveness—how to make aid work—while critics bemoan money wasted on corruption, ignoring the fundamentally political character of aid. The Price of Aid exposes the geopolitical calculus underpinning development assistance, and its costs.

India stood at the center of American and Soviet aid competition throughout the Cold War, as both superpowers saw developmental aid as a way of pursuing their geopolitical goals by economic means. Drawing on recently declassified files from seven countries, David Engerman shows how Indian leaders used Cold War competition to win battles at home, eroding the Indian state in the process. As China spends freely in Africa, the political stakes of foreign aid are rising once again.

“A magnificent book. Anyone who seeks to understand contemporary India and its development struggles will have to start here. Engerman’s work is not only enlightening, it turns much of what we thought we knew about India, foreign aid, and the Cold War in South Asia upside down.”
—O. A. Westad, author of The Cold War

“An outstanding history…Drawing on an unprecedented array of official and private archives in India, Russia, the United States, and Britain, Engerman offers a superb account—one that integrates the ideologies and policies of the superpowers with a sharp analysis of the push-and-pull of policymaking in India. This is a landmark study of independent India as well as the Cold War.”
—Srinath Raghavan, author of India’s War


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The Quiet Violence of Empire
How USAID Waged Counterinsurgency in Afghanistan
Wesley Attewell
University of Minnesota Press, 2023

How the U.S. empire-state transformed post-1945 Afghanistan into a key site for reimagining development

Established in 1961 by President Kennedy, the United States Agency for International Development (USAID) is often viewed as an extension of the security state, playing a constant role on the ground in Afghanistan since the early sixties. The Quiet Violence of Empire traces USAID’s long and bloody history of development work in the region, revealing an empirically rich account of the transnational entanglements of imperialism and racial capitalism.

Wesley Attewell carefully analyzes three chronological moments of development as counterinsurgency in action: the Helmand Valley Project, the Soviet–Afghan conflict, and the post-9/11 occupation in Afghanistan. These case studies expose how USAID’s very public commitment to bringing seemingly inclusionary forms of self-help, technical assistance, and market development to Afghanistan has been undergirded by longer-standing infrastructures of race war and racial management. Attewell exposes how one of the net effects of USAID’s development mission to Afghanistan has been to constrain the life chances of Afghan beneficiaries while simultaneously diverting development capital back to U.S. contractors, deftly underscoring the notion of development as a form of slow violence.

The Quiet Violence of Empire asks the critical question: how might we refuse the ruse of USAID and its endlessly deferred promise of development? Thinking relationally across the fields of human geography, global studies, and critical ethnic studies, it uncovers the explicitly racial underpinnings of international development theory and praxis.


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Reality and Rhetoric
Studies in the Economics of Development
P. T. Bauer
Harvard University Press, 1984

Reality and Rhetoric is the culmination of P. T. Bauer’s observations and reflections on Third World economies over a period of thirty years. He critically examines the central issues of market versus centrally planned economies, industrial development, official direct and multinational resource transfers to the Third World, immigration policy in the Third World, and economic methodology. In addition, he has written a fascinating account of recent papal doctrine on income inequality and redistribution in the Third World. The major themes that emerge are the importance of non-economic variables, particularly people’s aptitudes and mores, to economic growth; the unfortunate results of some current methods of economics; the subtle but important effects of the exchange economy on development; and the politicization of economic life in the Third World.

As in Bauer’s previous writings, this book is marked by elegant prose, apt examples, a broad economic-historical perspective, and the masterful use of informal reasoning.


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Welfare for Markets
A Global History of Basic Income
Anton Jäger and Daniel Zamora Vargas
University of Chicago Press, 2023

A sweeping intellectual history of the welfare state’s policy-in-waiting.

The idea of a government paying its citizens to keep them out of poverty—now known as basic income—is hardly new. Often dated as far back as ancient Rome, basic income’s modern conception truly emerged in the late nineteenth century. Yet as one of today’s most controversial proposals, it draws supporters from across the political spectrum.

In this eye-opening work, Anton Jäger and Daniel Zamora Vargas trace basic income from its rise in American and British policy debates following periods of economic tumult to its modern relationship with technopopulist figures in Silicon Valley. They chronicle how the idea first arose in the United States and Europe as a market-friendly alternative to the postwar welfare state and how interest in the policy has grown in the wake of the 2008 credit crisis and COVID-19 crash.

An incisive, comprehensive history, Welfare for Markets tells the story of how a fringe idea conceived in economics seminars went global, revealing the most significant shift in political culture since the end of the Cold War.


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