# Dean Peter Henry explains why first world countries need fiscal discipline

1 Faculty News March 25, 2013 ![](/sites/default/files/styles/246w/public/assets/images/con_030601.jpg?itok=GeJte3i1)>

Excerpt from [Bloomberg Businessweek](http://www.businessweek.com/videos/2013-03-25/lessons-from-the-third-world-for-first-world-growth) -- "Discipline means focusing on what needs to be done to generate prosperity. Not austerity, not necessarily extreme measures...Discipline means a long-term focus on pragmatic solutions."

[Watch the video](http://www.businessweek.com/videos/2013-03-25/lessons-from-the-third-world-for-first-world-growth)