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E conomic D evelopment G ood, Bad or Both?

E conomic D evelopment G ood, Bad or Both?. Confessions of an Economic Hit Man. E ssential Q uestion :. Is all economic growth a good thing ? Why or why not? A nswer this question on a sheet of paper. Case Study: Ecuador.

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E conomic D evelopment G ood, Bad or Both?

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  1. Economic Development Good, Bad or Both? Confessions of an Economic Hit Man

  2. Essential Question: Is all economic growth a good thing? Why or why not? Answer this question on a sheet of paper.

  3. Case Study: Ecuador What are some potential benefits and challenges of Ecuador using foreign aid to build a hydroelectric plant?

  4. Benefits Production of electricity Profits- increase in GNP Support for infrastructure/ growth

  5. Challenges Accruing debt Profits for only a handful of citizens Destruction of natural habitat Loss of local land / culture

  6. What do you think? Do the benefits outweigh the challenges? Why or why not? • Answer this question on your sheet of paper.

  7. Prologue xxiii “That hideous, incongruous wall is a dam that blocks the rushing Pastaza River, diverts its waters through huge tunnels bored into the mountain, and converts the energy to electricity. This is the 156-megawatt Agoyan hydroelectric project. It fuels the industries that make a handful of Ecuadorian families wealthy, and it has been the source of untold suffering for the farmers and indigenous people who live along the river.... Because of [such] projects, Ecuador is awash in foreign debt and must devote an inordinate share of its national budget to paying this off, instead of using its capital to help the millions of its citizens officially classified as dangerously impoverished. The only way Ecuador can buy down its foreign obligations is by selling its rain forests to the oil companies."

  8. Essential Question: Is all economic growth a good thing? Did your answer change after reading the book excerpt? Why/ Why not? Turn in All Questions Answered for grade

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