Avoiding the Resource Curse

Written by Ryan McGuine // Economic history is full of countries with abundant stocks of natural resources exporting them to generate revenue. Famous examples include agricultural products in Latin American countries, oil in Persian Gulf countries, and minerals in African countries. Despite this, economic history is short on countries that have successfully converted natural resource … Continue reading Avoiding the Resource Curse

Power, Representation & Development

Written by Anna Wangen // Who writes the story of what "development" is? In a sphere that includes everything from high-level international governing bodies to the smallest local NGOs, as well as academics, humanitarian organizations, aid workers and more, the sheer diversity of actors and institutions renders conflicting ideologies, goals, and interests in "doing development" … Continue reading Power, Representation & Development

Technology Dynamics and Growth

Written by Ryan McGuine // According to the Solow Model, productivity growth is the key to long-term, sustained economic growth. In practice, this is quantified by a blunt measure of economic efficiency called total factor productivity (TFP). Referred to as a "measure of our ignorance" by Robert Solow himself, TFP is calculated by summing up … Continue reading Technology Dynamics and Growth

Partners in Light

Written by Ryan McGuine // In early January 2017, I was awaiting my departure in Haiti's crowded, fan-cooled Toussaint Louverture International Airport at the end of my third week-long church-affiliated service trip to the Eben-Ezer Mission community outside of Gonaïves. At the time, I was involved with the search for a new project for UW-Madison's … Continue reading Partners in Light

Premature Deindustrialization: Economic Growth Then & Now

Written by Ryan McGuine // The conventional path for economic development has been to use industrialization — the process of increasing industry's relative contribution to total GDP and employment, at the expense of those of agriculture and services — as a means to enable rapid convergence. "Convergence" refers to a catch-up effect whereby countries that … Continue reading Premature Deindustrialization: Economic Growth Then & Now

The Causes of the Wealth of Nations

Written by Ryan McGuine // Sustained, long-term output per capita growth, often referred to simply as "economic growth" is the ultimate goal of most economic policy interventions, and there are a number of models — mathematic representations of the economy — designed to explain how adjusting certain variables affects output per capita. The Solow Model is one … Continue reading The Causes of the Wealth of Nations