Conversation with Voon on MSN:Voon: Hello :)Me: Heya! How are you?Voon: I'm good, just got back from class. Such a nice day to sleep...Me: Hahahaha! I just got back from dinner with my Econ Prof.Voon: Wah, what you doing grace???Me: Huh??Voon: There's been enough cases of student-teacher affairs in America, Grace...Me: He's married...and old...and we went with two other students...Voon: Ok lah, just kidding jangan merajuk...***
Conversing with people passionate about Development Economics just stir something in my heart. If I had more time, I would love to take up this field of studies. Needless to say, you can't do everything and time is a scarce commodity. As much as I enjoy business, development economics (ok, and politics, and philosophy, and religion etc etc) really intrigues me. This one course I am taking on development economics has challenged much of my 'conventional' mindset on aid. Like some political science majors, I used to be all for HIPC (debt cancellation to Highly Indebted Poor Countries) and aid aid aid for underdeveloped countries. But now that I am reading different aid theories, and loads of statistics of how aid doesn't work to alleviate countries from poverty, I am just astounded by the fact that the world has no answer as to how to end world poverty. So, I have read Jeffrey Sachs's "The End of Poverty" where he advocated donor countries keep their Millenium Development Goals (MDG) of providing 0.7% GNP for aid...and with a miracle grand plan, the end of poverty will be realized by 2025. Ok, if it were three years ago, I may agree with him and advocated the same thing, but with all these economics theories swimming around my head, I am more cognizant that the poverty problem is so much more complicated. It cannot be solved with free money -- non monetary accountability/non-accountability extinguishes the incentive factor pivotal to a stable economy. It is extremely complicated, and the worse thing is that the world doesn't have the answer. And that distresses me...
Will we be able to really cut poverty in half by 2015? How??