The earth produces a reliable stream of disasters. Some, like AIDS, are chronic; others, like earthquakes or hurricane Katrina, are sudden displays of natural force. In each case, it is expected that a well-financed relief effort will descend from a wealthier region. But importing assistance may not only be less effective; it might actually cause more damage in the long run.
When a tsunami hits, the first impulse is to bring in First-World experts. Rescue is the initial priority, followed by ensuring food, shelter, and medical aid. It is just a matter of getting things done, and it must be done the most effective way, so the operations occur according to the institutional philosophies of donor countries.
But siphoning the habits of one culture into another during a rebuilding process can trigger societal changes that are almost as damaging as the disaster itself, as happened in a small fishing villages in the Philippines in the late 1970’s.
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Artificial intelligence is being designed and deployed by corporate America in ways that will disempower and displace workers and degrade the consumer experience, ultimately disappointing most investors. Yet economic history shows that it does not have to be this way.
worry that the technology will be deployed to replace, rather than empower, humans.
Amid labor-supply constraints and economic shocks, the case for productivity-boosting interventions is clear. Unless US policymakers use a combination of investment and incentives to reverse negative productivity trends, the US will achieve modest growth, at best.
urge policymakers to pursue interventions aimed at reducing supply constraints in the non-tradable sector.
The earth produces a reliable stream of disasters. Some, like AIDS, are chronic; others, like earthquakes or hurricane Katrina, are sudden displays of natural force. In each case, it is expected that a well-financed relief effort will descend from a wealthier region. But importing assistance may not only be less effective; it might actually cause more damage in the long run.
When a tsunami hits, the first impulse is to bring in First-World experts. Rescue is the initial priority, followed by ensuring food, shelter, and medical aid. It is just a matter of getting things done, and it must be done the most effective way, so the operations occur according to the institutional philosophies of donor countries.
But siphoning the habits of one culture into another during a rebuilding process can trigger societal changes that are almost as damaging as the disaster itself, as happened in a small fishing villages in the Philippines in the late 1970’s.
To continue reading, register now.
Subscribe now for unlimited access to everything PS has to offer.
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