Poverty and Government
Why is Africa so poor? Natural climate conditions? Exploitation by richer, whiter countries? A history of colonization? AIDS?
Or maybe, just maybe, it is the fault of Socialist, Kleptocratic, and Totalitarian governments.
posted by Author @ 7:30 AM
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1 Comments:
I read his book "The Mystery of Capital: Why Capitalism Triumphs in the West and Fails Everywhere Else". AWorldConnected.com handed out some free copies of it awhile back. I certainly think there's some truth to his analysis.
If it takes three months and several years' wages for an average person to negotiate the red tape necessary to open up a business in Egypt, then we can expect slow economic growth and a large underground economy without access to financial markets.
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