Economist of the Day

Paul Collier

Born: April 23^rd, 1949

Died: N.A.

Summary: An English Economist. He specializes in political and economic development in poor nations.  He is a professor of Economics and Public Policy at the University of Oxford. From 1998 to 2003 he was the director of the Development Research Group of the World Bank. His book The Plundered Planet gives three equations about what can happen in a country based on the presence or lack of three variables. The first equation is Nature minus Technology plus Regulation equals Starvation. The second equation is Nature plus Technology minus Regulation equals Plunder. The third and final equation is Nature plus Technology Plus Regulation equals Prosperity. The book also attempts to find a balance between complete disregard for nature and nothing but regard for nature. In his book The Bottom Billion, he tries to explain why certain countries fail to prosper even when they are give large amounts of aid from developed nations.

Notable Works: The Plundered Planet, The Bottom Billion, Wars, Guns and Votes: Democracy in Dangerous Places, Exodus: How Migration is Changing Our World