This is Aaron DiGregorio's Typepad Profile.
Join Typepad and start following Aaron DiGregorio's activity
Join Now!
Already a member? Sign In
Aaron DiGregorio
Recent Activity
As we have discussed to great extent throughout this term, policy cannot be applied as a blanket solution for all nations. There are several factors that influence the behavioral aspects of a specific culture which affect the ways in which that culture will act when dealt with adversity. That is not to say, however, that we as policy makers cannot learn from the way that other cultures act in the face of hardship which is why Ravallion argues that we can look at China as an example for Africa, not in terms of how it will be, but simply how it could be. Ravillion concludes that a balance of market policies and strong national institutions in vital in the development of any given society. Similar to what China once was, much of Africa’s population lives in rural agricultural areas, and in order for further development to occur in Africa, there needs to be an increase in urban areas and a massive population migration to these cities. This transformation is only possible through a combination of a strong market and strong institutions.
Toggle Commented Dec 5, 2013 on China and Africa (Econ 280) at Jolly Green General
Christopher Urdy begins his piece on Child Labor by bringing in the concept that when a child enters the workforce at an early age, he/she is immediately sacrificing their human capital for immediately financial gains. This is to say that by working for instant wages (typically extremely low), they are giving up their education and any real possibility for future betterment. This situation reminds me of the discussion some people in our culture have with regards to going to college or entering the workforce upon completion of High School. On the one hand, an individual stands to make thousands of dollars a year as opposed to paying thousands of dollars a year, but in the end, they are sacrificing future gains by electing to not attend college. While in our culture the educational distance factor is often times overlooked, the marginal benefits children have in education is astronomical. Those from the poorest households, receive the largest benefit from investments in education (marginally speaking). This means that if we as a wealthier society, must invest in educational institutions within a poorer nation, if we are ever going to help them “get out of their mess”.
Toggle Commented Nov 7, 2013 on Corel Office Document at Jolly Green General
I agree with Mitchell’s comments in that this information can be presented in a variety of ways depending on what a given author wants to argue. On the one hand, unemployment figures are down, which would typically represent a growing economy with new job creation. On the other hand, the data shows that the unemployment growth isn’t all that it’s cut out to be as a significant portion of the population simple left the workforce, thus causing the unemployment figures to drop. This varying way to look at a given situation can be extremely detrimental to a society, given that policy makers choose may to present this data in the way which benefits their own personal interests.
I found this article by Esther Duflo to be extremely well analyzed and articulated. Duflo does a wonderful job of, as we’ve discussed in class, combining fact based analysis and his own interpretation and analysis. This allows Duflo to see beyond what the data is telling and into the deeper relationship between economic growth and gender empowerment. Duflo’s initial argument pertains to the question of whether or not gender equality is necessary to produce economic growth or whether it is simply a byproduct of it. This question becomes similar to the age old saying, “What came first the chicken or the egg?” I believe that both statements are true. Yes, I believe that gender progression towards equality is necessary for economic development, but at the same time, I believe that gender equality can only become true once an economy has fully developed, thus making both initial statements true.
Rodrik’s paper argues that while policies cannot be used universally for differing economies, they can be used as inferences in the hopes that we can learn from previous examples for similar situations. He goes on to state that the belief that an effective policy for one economy should be duplicated in order to guarantee success in another economy is a huge misconception. This is because of a failure to understand the, as he put it, “unconventional elements lead to growth” (i.e. people, area, culture, etc.) When looking at the models from Tuesday’s class, it is easy to see how some policy makers can be misconstrued and led to believe that Solow’s Growth Model is a universal truth for all economies, and thus should be solely used to predict economic growth. Solow designed his model to talk about an isolated area of economic growth, not to be the sole influencer of policy. As I mentioned earlier, this does not allow policy makers to see the entire picture, thus inevitably leading them to failure.
Toggle Commented Sep 26, 2013 on Growth Strategies - Econ 280 at Jolly Green General
I’ll admit that at first, I had no idea exactly where Krugman was going with his argument as his thoughts seemed to bounce from place to place without a direct path. Soon, however, like Nick pointed out in his point, Krugman made his point clear by arguing that society must return to the most basic aspects of a problem in order to obtain a long-term solution. If we fail to fix the initial and basic source of a problem, then we as a society will be more likely to revert backwards. As we discussed in class, models are one of many great ways to illustrate a given economic situation, but they should not be used solely to influence Public Policy. This relates to Krugman’s argument of seeing the big picture, but failing to recognize the basic parts of an economic problem. If decision makers are merely influenced by these models, they will fail to identify the source issues, thus failing to develop the given economy over time.
I found this article to be extremely thought provoking. How privileged are we as Americans where we believe making $10 an hour to be extremely impoverished, and yet that is 10x the income of the people mentioned in the article. I cannot even fathom having to provide, not only for myself, but my family as well on $1-2 a day. I found it very interesting that the "extremely impoverished" people mentioned in the article do not have a low self-reported level of happiness. Although they do not have the pleasures of modern society, they are still able to find happiness. I also found it interesting that while it would appear that what little income they do have should automatically go towards staying alive, when interviewed they did still believe that they contained the power of choice. Perhaps once this power of choice is gone, would their level of happiness be significantly lower too? During Tuesday's class, we discussed how an Economy is revolved around choices. And since these extremely poor people still believe that they have a choice in how the allocate their resources, I believe that it is vital that we as a developed society continue to study these undeveloped economies and thus allow them to progress in their decision making. Hopefully, in time, improving their economy as a whole all together.
Toggle Commented Sep 11, 2013 on Economic Lives of the Poor at Jolly Green General
Aaron DiGregorio is now following The Typepad Team
Sep 11, 2013