The Economist's Tale, by Peter Griffiths
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The Economist's Tale, by Peter Griffiths
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What really happens when the World Bank imposes its policies on a country? This is an insider‘s view of one aid-made crisis. Peter Griffiths was at the interface between government and the Bank. In this ruthlessly honest, day by day account of a mission he undertook in Sierra Leone, he uses his diary to tell the story of how the World Bank, obsessed with the free market, imposed a secret agreement on the government, banning all government food imports or subsidies. The collapsing economy meant that the private sector would not import. Famine loomed. No ministry, no state marketing organization, no aid organization could reverse the agreement. It had to be a top-level government decision, whether Sierra Leone could afford to annoy minor World Bank officials. This is a rare and important portrait of the aid world which insiders will recognize, but of which the general public seldom get a glimpse.
The Economist's Tale, by Peter Griffiths- Amazon Sales Rank: #2228354 in eBooks
- Published on: 2015-11-15
- Released on: 2015-11-15
- Format: Kindle eBook
Review "As a World Bank employee for 16 years ... I observed some of the same bureaucratic obtuseness [Griffiths describe[s...so precisely and with such careful analysis of the Sierra Leone situation, I am amazed...a great book. If only there were many more people...who would write up their experiences with aid projects." --Bill Easterly, Formerly Principal Economist at the World Bank, Now Professor of Economics at NYU, Senior Fellow, Center for Global Development and Institute for International Economics"...brilliantly elucidates the relationship between incompetence and corruption, both in Sierra Leone and the aid industry..."-The Economist"Griffiths paints a picture in which World Bank staff are promoted¿while whistleblowers questioning government corruption are expelled."--The Observer (UK)"It is passionately written and backed up by knowledge and experience."--New Agriculturist on-line"Unputdownable--as thrilling as any thriller... I've never read an account of the life of an economic consultant which came anywhere near it in the vividness of the observation or the pace of the action."--Clive Dewey, University of Leicester"As a diarized account of the work of an economist--sensitively written and enjoyable--it is compulsory reading for anybody studying economics, management, marketing, business and other social sciences."--David Needham, Nottingham Trent University
About the Author Peter Griffiths is an independent economist and consultant.
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Most helpful customer reviews
7 of 7 people found the following review helpful. Andybody Who Cares Should Read This By Andrew Saporoschenko An excellent, excellent book in several ways. Anybody who cares - about society - conservative, moderate, or liberal should read this. All economists, political scientists, politicians, and students of these fields should read this book carefully. The Economist's Tale is a true morality play. It looks at the way economics plays out in real-life using the framework of food policy in Sierra Leone. The author is not against market forces - but as economic theory has recognized in the last few decades - markets work (or don't work) with many attendant frictions and imperfections. Unfortunately, in the tale told within this book, people die because of these frictions.The Economist's Tale is also quite interesting and riveting as a read. It is also a quick read. One learns much about Sierra Leone among other non-economic subjects. It appears nobody else has rated this book yet - which tends to indicate that few people have read it - a sad state of affairs.
7 of 8 people found the following review helpful. Insighful and sad account By Amazon Customer A good book, known by few, written by an even less well known author, to which I am grateful. As (probably) most of the other readers, I learned about this book from a (very positive) book review published on the "Economist".This book tells a first person account of how bad economics, corruption, or "simple" incompetence almost caused a famine of immane proportion in Sierra Leone, in the 80s, with the important "contribution" of the World Bank. The author (at the time a consultant for the World Bank) tells us how he managed to avert the crisis, a deed that many did not appreciate, and that caused him professional troubles later on.It is a mistery how this book can be so little known. It is well written, and above all quite deep. Mr Griffith clearly shows to be a skilled and informed economist. I found particularly compelling the pages that discuss how economic "data" should be often taken with a grain of salt, or two. Especially in poor countries, "data" are sometimes nothing else that guesses (sometimes educated, sometimes not), and this may lead to enormous policy mistakes. Unfortunately, people's lives may put at stake by such mistakes. One point that Mr Griffith powerfully makes is that economic policy is not simply boring material to be debated by politicians and discussed in the ivory towers of academia, but it is something REAL that has sometimes the potential of deciding about the fate of millions of people. Unfortunately, policy is the hands of men, and this book amply shows once more how little trust we should have in men.Overall, this is quite a compelling reading, much more than the insipid "Globalization and its discontent" by Stiglitz, a world-class economist that has produced a little polemic book that could have been memorable, and instead has disappointed everyone, except uncritical anti-globalization protesters. If you are looking for a deeper account of the potential evil of economic policy and the World Bank, this book is highly recommended.P.S. By the way, contrary to what some extremist may believe, the World Bank is not only made by evil individuals who only care about their career. The World Bank is a very complex institution, and I can assure you that committed, serious, and conscientious individuals abound in there. Whether they have a major role in how the World Bank actually works in Developing Countries is something I still have to find out...
0 of 0 people found the following review helpful. and if you don't take a good long moment to reflect on what is happening By Ber Berkner The economist's tale is a real life account of an economist working in Sierra Leone and his experience while working with the World Bank and local government officials. The book offers you a first person view of how public policy choices are made and the factors that can influence said choices. While the book is set in the 1980's, it is still very relevant today. What's most important is not what happened, but instead the process.This is one of the most important books ever written in the field of international development. To be clear, the insights and lessons learned won't jump off the page, and if you don't take a good long moment to reflect on what is happening, and why it is happening, you won't learn much. On a side note, the book is fast paced and easy to read. The book is written much like a novel, but is a real life account.
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