Easterly channels Hayek

Bill Easterly understands the flaws in the search for panaceas in development:

Yesterday we ran a blog post that fits into a now classic genre in development commentary. This genre, after some discussion, always ends with a conclusion like: "Solution X (a transparency law, microcredit, malaria bed nets, conditional cash transfers, web-based clever thing, eliminating business red tape, etc.) is moderately helpful, but a long way from a panacea." Of course, nobody really claims explicitly "X...