Economic Wisdom The Developing World Can Teach The Developed World

A handful of third-world countries have turned themselves around from numerous hardships in the past 30 years: China rose from seemingly hopeless poverty, Mexico bounced back from the Third World Debt Crisis, Brazil overcame hyperinflation. Economist Peter Blair Henry argues that first-world countries have much to learn about discipline and humility from these third-world successes. Peter Blair Henry is the dean of NYU's Stern School of Business, and the author of "Turnaround: Third-World Lessons For First-World Growth." He spoke at Seattle's Town Hall on March 19, 2013.