full transcript

From the Ted Talk by Sangu Delle: In praise of macro -- yes, macro -- finance in Africa


Unscramble the Blue Letters


Traditional prescriptions for gwtorh in Africa are not working very well. After one trillion dollars in African development-related aid in the last 60 years, real per capita income tdaoy is lower than it was in the 1970s. Aid is not doing too well.

In response, the Bretton Woods institutions — the IMF and the wrold Bank — pushed for free trade not aid, yet the historical record shows little empirical evidence that free trade ldeas to einomocc growth.

The nwely prescribed silver bullet is microcredit. We seem to be fiaextd on this rimaeicotznd idea that every poor peasant in Africa is an entrepreneur. (Laughter) Yet my work and travel in 40-plus countries across Africa have taught me that most people want jobs instead.

Open Cloze


Traditional prescriptions for ______ in Africa are not working very well. After one trillion dollars in African development-related aid in the last 60 years, real per capita income _____ is lower than it was in the 1970s. Aid is not doing too well.

In response, the Bretton Woods institutions — the IMF and the _____ Bank — pushed for free trade not aid, yet the historical record shows little empirical evidence that free trade _____ to ________ growth.

The _____ prescribed silver bullet is microcredit. We seem to be _______ on this ____________ idea that every poor peasant in Africa is an entrepreneur. (Laughter) Yet my work and travel in 40-plus countries across Africa have taught me that most people want jobs instead.

Solution


  1. fixated
  2. leads
  3. newly
  4. world
  5. growth
  6. economic
  7. today
  8. romanticized

Original Text


Traditional prescriptions for growth in Africa are not working very well. After one trillion dollars in African development-related aid in the last 60 years, real per capita income today is lower than it was in the 1970s. Aid is not doing too well.

In response, the Bretton Woods institutions — the IMF and the World Bank — pushed for free trade not aid, yet the historical record shows little empirical evidence that free trade leads to economic growth.

The newly prescribed silver bullet is microcredit. We seem to be fixated on this romanticized idea that every poor peasant in Africa is an entrepreneur. (Laughter) Yet my work and travel in 40-plus countries across Africa have taught me that most people want jobs instead.

Frequently Occurring Word Combinations


ngrams of length 2

collocation frequency
free trade 2
banana farmers 2
eric muthomi 2
economic freedom 2
regular investment 2



Important Words


  1. africa
  2. african
  3. aid
  4. bank
  5. bretton
  6. bullet
  7. capita
  8. countries
  9. dollars
  10. economic
  11. empirical
  12. entrepreneur
  13. evidence
  14. fixated
  15. free
  16. growth
  17. historical
  18. idea
  19. imf
  20. income
  21. institutions
  22. jobs
  23. laughter
  24. leads
  25. microcredit
  26. newly
  27. peasant
  28. people
  29. poor
  30. prescribed
  31. prescriptions
  32. pushed
  33. real
  34. record
  35. response
  36. romanticized
  37. shows
  38. silver
  39. taught
  40. today
  41. trade
  42. traditional
  43. travel
  44. trillion
  45. woods
  46. work
  47. working
  48. world
  49. years