Africa, Hellish Economic Situation, and Fireside Chats

            Class on Friday was very enjoyable.  I left there feeling emotionally and intellectually better than I had felt all week, but the extra sleep time did not succeed in curing my physical ailments.  I have a lurking feeling that PTJ did not want to get on a new topic because he wanted to get all of our feedback on the minor simulation and a lot of us did not want to answer this week’s question.  Oh well, I’d rather discuss something else from a different class:  Poverty and the rising food prices in Africa. 

            In my macroeconomics class on Friday, as a treat for turning in our midterm papers, we got a guest lecturer from the World Bank.  His name is Quentin Wodon and I have no clue what country he is originally from because he had an interesting accent, but he was an American University graduate who now researches methods to reduce poverty in Central and West Africa.  He explained how it is important to look at the individual African countries because the effects of the price increase on basic foods, rice and wheat, are very different for the different countries.  He also showed us how regions within the countries are affected differently and how the best, most effective aid is targeted in the geographic areas that are hit the hardest by the crisis.  He then showed us through many graph and statistics how the best way to help people is through labor intensive public works projects in those geographical regions. 

            I thought that Wodon’s lecture was really fascinating even though I coughed through most of it.  I liked when he mentioned how tax cuts are easy, but generally the least effective in helping people, because I tend to feel the same way.  I also enjoyed his positive remarks on public works projects.  I find it interesting how the 1930’s keep coming back to relate to current day issues.  I watch the full episodes of The Daily Show online (still waiting on someone to replace the lounge television) and guest Sarah Vowell made a point of saying that she stopped watching the current news and just listened to recordings of FDR’s fireside chats (this is totally off topic of Africa now, but in truth the economic crisis is going to affect nearly everyone).  I found that interesting because she mentioned how FDR was positive and told people not to panic and generally brought a sense of hope with his words.  I wish there was someone who would give the students here a sense of hope about the possibility of continuing to afford attending American University.