RIP: M. Sadli

economists ▪ indonesia ▪

Last night, M. Sadli, an important Indonesian policy economist dubbed one of the "four men that changed Indonesia" by ANU's Hal Hill passed away. Here is Hill on Sadli's economic commentary (from this article from FEER):

Three key elements have always been present in these commentaries. First, the importance of sound "first principles" in economic policy, whether it be macroeconomics, trade and industry policy or social issues. The second has been keeping a watchful eye on the public-policy debates, the complex, fluid political economy equations, and how they are likely to impinge on outcomes. And third, in debates which have often been parochial and sometimes conspiratorial, Mr. Sadli has always been quick to remind his readership of the international dimensions, ranging from the lessons of other countries in transition from crises to the latest writings in development economics. Mr. Sadli has also straddled business and academe with ease, more effectively than anybody else in Indonesia. As the architect of Indonesia's liberal foreign-investment policies in 1967 and from his tenure as minister for mining in the 1970s, he retains close connections with the international business community, and has played a major role in educating them about Indonesian political economy.

Pak Sadli will be sorely missed.

HT: Arianto Patunru.

» read more...

Rodrik v. Stiglitz

development ▪ economists ▪

Dani Rodrik discriminates himself from Nobel Laureate (and, nowadays, an anti-globalization poster boy) Joseph Stiglitz. Give and take, I am broadly in agreement with Rodrik on all four points of contention, i.e., on the global economic system, the role of international organizations, the substance of development policies, and on macroeconomic policy.

An aside, Rodrik's new book, One Economics, Many Recipes is out. I've just ordered my copy, so can't say very much about it (but, hopefully, will do so before the end of winter break). In the meantime, here is a transcription of the Crooked Timber seminar on the book.

» read more...