The Quest for Prosperity

"This is a must-read for anyone interested in the emerging consensus on development policy. Justin Yifu Lin makes a powerful case for a 'new structural economics' grounded in a very persuasive analysis of the evolution of ideas in economics. It will resonate especially well with practitioners familiar with the practical constraints of policymaking in developing countries."--Montek Ahluwalia, deputy chairman of the Planning Commission of the Republic of India"In this masterpiece, Justin Yifu Lin weaves together 250 years of economic thought with his own wisdom acquired during China's economic rise. He dares to envision the end of world poverty and spells out--thoughtfully, sensibly, and pragmatically--how this can be accomplished. It is impossible for an economist to write a better, or a more important, book."--George A. Akerlof, Nobel Laureate in Economics"Combining valuable insights from his experience in China, his time as the World Bank's chief economist, and the 2008 financial crisis, Justin Yifu Lin's recommendations for development policy reflect an impressive and unique personal journey."--Kemal Dervis, vice president of the Brookings Institution and former executive head of the UN Development Programme"The Quest for Prosperity is an important book. Written with verve and clarity, it reflects a deep understanding of global economic issues, and proposes practical solutions that anyone concerned with the plight of the world's poor would be wise to read."--Robert Fogel, Nobel Laureate in Economics"Justin Yifu Lin's life journey has been one of discovery driven by insatiable curiosity. His invaluable contributions to economic theory and policy in these turbulent times are distinctive because of the sharpness of his observations, his willingness to rigorously test a hypothesis, and his courage to posit emerging views. The Quest for Prosperity builds on his already substantial contribution to development economics. It is a must-read for all policymakers and students."--Trevor Manuel, minister in the presidency of the National Planning Commission of South Africa"Justin Yifu Lin lays out an innovative framework for understanding the mystery of economic growth, drawing insightful conclusions about the experience of successful economies that should provide important inspiration to developing countries as they seek to expand their comparative advantages and design their own growth strategies."--Ngozi Okonjo-Iweala, finance minister of Nigeria"Justin Yifu Lin cracks the code of economic development in this extraordinary tour de force--offering a rare combination of personal experience, rigorous analysis, and empirical investigation. His powerful recipe will become an enduring feature of future development efforts."--Stephen S. Roach, former chairman of Morgan Stanley Asia and author of The Next Asia"Part personal narrative, part sophisticated economic analysis, this important book offers a new approach for accelerating economic development around the world. Justin Yifu Lin's exceptional grounding in Chinese realities and Chicago economics, as well as his extensive experience, shine throughout."--Dani Rodrik, author of The Globalization Paradox: Democracy and the Future of the World Economy"This is a truly exciting book. Speaking directly to the reader and quoting Lewis Carroll as easily as Simon Kuznets, Justin Yifu Lin proposes a new approach to development economics that makes great sense."--Thomas C. Schelling, Nobel Laureate in Economics"This book is a tour de force: a seminal contribution to development studies that is engagingly, even entertainingly written. Lin uses words, not statistics, to carry his arguments; and he illuminates abstract ideas with the dicta of people as diverse as Winston Churchill, Deng Xiaoping, and Mick Jagger."--Robert Wade, London School of Economics and Political Science