For the last 10 years, people in China have been sending me money. I also get money from countries in Latin America and sub-Saharan Africa — really, from every poor country. I’m not the only one who’s so lucky. Everyone in a wealthy nation has become the beneficiary of the generous subsidies that poorer countries bestow upon rich ones. Here in the United States, this welfare program in reverse allows our government to spend wildly without runaway inflation, keeps many American businesses afloat and even provides medical care in parts of the country where doctors are scarce.
William Easterly: Africa's Poverty Trap (.pdf can be found here)
Boom and Bust
Inequality Matters: Why globalization doesn’t lift all boats
Inside the Machine: Toward a new development economics
via Bayesian Heresy