# Dean Peter Henry explains the economic lessons of third world countries

1 Faculty News March 13, 2013 ![Yahoo Finance logo](/sites/default/files/styles/246w/public/assets/images/yahoofinance.jpg?itok=iQnyXkp_)>

Excerpt from [Yahoo! Finance](http://finance.yahoo.com/blogs/daily-ticker/america-learn-lot-third-world-countries-nyu-peter-140155823.html) -- "'We are in a position right now where first world countries, like the United States and countries in the Eurozone, look a lot like third world countries from thirty years ago,' says [Henry](http://www.stern.nyu.edu/faculty/bio/peter-henry). 'The key idea is that today's emerging markets, which used to be third world countries, turned themselves around by applying three things: discipline, clarity and trust.'"

[Watch the video](http://finance.yahoo.com/blogs/daily-ticker/america-learn-lot-third-world-countries-nyu-peter-140155823.html)