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Free Enterprise at the Baugh Center

Development Economist, Dr. Riordan, Discusses Market-based Solutions to Job Creation

Oct. 23, 2013

WACO, Texas -- Development Economist Dr. Jim Riordan Prepares Baylor Entrepreneurship Students to Create Jobs in Developing Countries --

Not all new ventures should begin, says development economist Dr. James Riordan. The author and former Project Director for USAID's Poverty Reduction and Alleviation Program in Peru visited the Baylor campus to share his experiences helping create jobs for the poor in developing countries.

"Starting a business to make a product --and thus employ workers -- will not ensure the longevity of the venture or the growth of employment," he told the group of 100 Social Entrepreneurship students, many of whom plan to pursue careers in developing countries. There have to be real, live buyers for the product if the business is to make money, hire people, and, thus, generate income for those without work.

According to Dr. Riordan, development programs are most likely to have an impact when they help nurture trust between buyers and sellers, manage resources with discipline, help clients solve their most significant business problems, and hold themselves accountable for bringing about real results.

"Our students are fortunate to learn from Dr. Riordan's experiences," said Dr. Steve Bradley, Assistant Professor and Faculty Director of Free Enterprise at the Baugh Center. "His understanding of improving development projects through market-based approaches matching buyers and sellers is a proven and valuable approach to creating jobs for the poor."

With over 35 years of experience in the design and implementation of business development, anti-poverty, and policy reform programs around the world, Dr. Riordan has lived in Colombia, Peru, Egypt, and Albania, and has worked in 59 countries. Dr. Riordan wrote the book, "We Do Know How - A Buyer Led Approach to Creating Jobs for the Poor" which details his innovative approach to generating jobs for the poor. The program Dr. Riordan managed in Peru won the country's prestigious Creatividad Empresarial award.

About Free Enterprise @ the Baugh Center

Free Enterprise at the John F. Baugh Center seeks to aid in the preservation of the competitive free enterprise system, including the vital small business sector of the economy. Our goal is to be a national leader in this area through research, teaching and informing public policy. Visit www.baylor.edu/business/freeenterprise

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