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
- fixated
- leads
- newly
- world
- growth
- economic
- today
- 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
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banana farmers |
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regular investment |
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Important Words
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- trillion
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