The outcome of the North Korean nuclear saga has been held up as an example of the Bush administration defying its bellicose reputation and using multilateralism and diplomacy to defuse a crisis. But in fact, the story is one of extremely poor policymaking and a persistent failure to devise a coherent strategy -- with the result that North Korea has managed to dramatically expand its nuclear capability.

The Bush administration has adopted a misguided and dangerous nuclear posture. Instead of recycling antiquated doctrines and building a new generation of warheads, the United States should drastically reduce its nuclear arsenal, strengthen the international nonproliferation regime, and move toward the eventual elimination of nuclear weapons.

Paul Collier offers strong recommendations for helping "the bottom billion" -- those living in poor countries caught in growth traps. But he cannot overcome a basic problem: how to create growth where no functioning economy exists.