PLSC 270 - Lecture 19 - Plight of the Bottom Billion
In a pre-recorded lecture, Professor Rae discusses problems with using gross domestic product (GDP) as a measure for societal well-being. For example, GDP fails to capture wealth inequality and socially undesirable conditions that can increase GDP. He then touches on some of the “traps” presented in Paul Collier’s book, The Bottom Billion, that are keeping the poorest of the developing countries mired in poverty.