Development Debated

A panel of five experts on international development attracted a crowd of approximately 300 to an Institute of Politics and Harvard Institute for International Development (HIID) discussion on "Reinventing Development."

The panelists emphasized the relationship between democracy and economic growth.

Panelist Jeffrey D. Sachs, HIID's director, hailed capitalism as "the most dynamic [economic] system" and said he advocated internationalism.

"In order to develop, a country must be part of the world in terms of...trade, investments and the flow of goods, services and people," he said. "All developing countries [must] learn to live in the world together."

Michael Chege, a visiting scholar at the Center for International Affairs, said he also viewed democracy as an essential factor in economic growth.

"However, I support democracy because it is morally right, not because it can produce a one percent growth factor," Chege said.

Jessica Einhorn, vice president and treasurer of the World Bank, noted that poverty is still prevalent in much of the world.

"A billion people still live on one dollar a day and two billion still have no access to sanitation," she said. "Health, education and population have a high economic return."

Einhorn said the importance of education cannot be under-emphasized. "It has been proven that no country can have a successful economy with less than a 50 percent literacy rate," she said.

Lawrence Summers, undersecretary for international affairs for the treasury department, concluded the discussion by arguing that the U.S. has a large role in promoting a global economy.

"America's exports in terms of economic and intellectual ideas are its most important export and the U.S. open market has been the single greatest factor in fostering a global open market," Summers said.

Audience members decried an overemphasis on democracy at the expense of economic factors such as environmentalism, division of wealth and social conflicts.

"They paid tribute to international development in the economy [but neglected] ethnic and cultural issues," said Ozren Tosic, a student at the Harvard School of Public Health.

Raphael F. Cardero, a Mason Fellow at the Kennedy School of Government said the discussion was misplaced.

"Everyone knows the recipe for economic development," Cardero said. "But what we all want to know is how to implement it.

Jessica Einhorn, vice president and treasurer of the World Bank, noted that poverty is still prevalent in much of the world.

"A billion people still live on one dollar a day and two billion still have no access to sanitation," she said. "Health, education and population have a high economic return."

Einhorn said the importance of education cannot be under-emphasized. "It has been proven that no country can have a successful economy with less than a 50 percent literacy rate," she said.

Lawrence Summers, undersecretary for international affairs for the treasury department, concluded the discussion by arguing that the U.S. has a large role in promoting a global economy.

"America's exports in terms of economic and intellectual ideas are its most important export and the U.S. open market has been the single greatest factor in fostering a global open market," Summers said.

Audience members decried an overemphasis on democracy at the expense of economic factors such as environmentalism, division of wealth and social conflicts.

"They paid tribute to international development in the economy [but neglected] ethnic and cultural issues," said Ozren Tosic, a student at the Harvard School of Public Health.

Raphael F. Cardero, a Mason Fellow at the Kennedy School of Government said the discussion was misplaced.

"Everyone knows the recipe for economic development," Cardero said. "But what we all want to know is how to implement it.