In “Left Behind: A New Economics for Neglected Places,” Paul Collier deeply examines the plight of regions and cities like South Yorkshire and Barranquilla, which have suffered economic decline due to the loss of pivotal industries like steel and trade. Collier attributes these persistent challenges to centralized decision-making and an overreliance on market forces, which have largely failed to support recovery in these areas. Yet, the narrative is not one of despair.
He identifies success stories, such as Pittsburgh’s revival and the economic progress seen in countries like Bangladesh and Rwanda. The catalyst for these transformations lies in empowering local governments, granting them the authority to make decisions tailored to their circumstances, bolstered by adequate financial resources to enact these strategies. Collier’s critique is sharpest regarding the United Kingdom, which, according to him, has not managed to uplift its neglected urban landscapes effectively.
In “Left Behind: A New Economics for Neglected Places,” Paul Collier scrutinizes the economic struggles of locations like South Yorkshire and Barranquilla, linking their decline to centralised decision-making. He contrasts this with cities like Pittsburgh and nations such as Bangladesh that have successfully reversed their fortunes through local empowerment and adequate resources. Collier heavily criticises the UK’s failure to adequately support its neglected regions.
Overall, Collier’s exploration provides a thought-provoking perspective on the rejuvenation of neglected places through local empowerment and resource allocation. His analysis highlights the crucial balance between central authority and local autonomy in fostering economic renewal. By showcasing both failures and successes, he offers valuable insights for policymakers seeking to reverse decline in similar left-behind areas.
Original Source: www.foreignaffairs.com
