G
gnjsdad
Guest
vern humphrey:
Canceling the poor countries’ debts may sound noble, but we went through that in the 1990s, and it made absolutely no difference. And the debt has not exactly piled up because of usurious interest rates, either. Forty years to repay at zero interest sounds too good to be true to the rest of us, but that’s what those so-called African leaders have been getting. Where has the moolah gone? That’s an even easier question to answer. To Swiss bank accounts, armaments, handouts to political friends, private jets, mansions, brothers, sisters, cousins, aunts, friends. You name it, the African dictators have spent it.
Why does poverty seem like such an intractible problem in Africa? One reason, counterintuitively, is foreign aid as it’s distributed now.
It is illegal in most African states to start a business without a license. And licenses are granted to or sold to those with government connections. The aid that is given to African countries to enable them to escape from the poverty trap sustains thugs like Mugabe, Abacha, and Taylor and enables them to become seriously rich.
There is an excellent opinion piece by Taki in the latest American Conservative dealing with the narcissistic self-aggrandizement engaged in by many of the performers at Live 8, and how their efforts are misplaced. Instead of Edinburgh, they should be marching on Nairobi.Yes, they do choose to be impoverished.
Now they don’t do it by muttering, “Rich or poor? Rich or poor? Which do I want to be?”
They make their choices by the sum of what they do and fail to do – in the US, people choose poverty by failing to take advantage of education, dropping out of school, taking drugs and committing crimes.
In other nations, they often choose poverty as an alternative to throwing out the corrupt governments that oppress and impoverish them.
And giving aid to those governments (as opposed to giving it directly to the people) merely makes the ruling classes richer and more able to oppress the rest of the people.
Canceling the poor countries’ debts may sound noble, but we went through that in the 1990s, and it made absolutely no difference. And the debt has not exactly piled up because of usurious interest rates, either. Forty years to repay at zero interest sounds too good to be true to the rest of us, but that’s what those so-called African leaders have been getting. Where has the moolah gone? That’s an even easier question to answer. To Swiss bank accounts, armaments, handouts to political friends, private jets, mansions, brothers, sisters, cousins, aunts, friends. You name it, the African dictators have spent it.
Why does poverty seem like such an intractible problem in Africa? One reason, counterintuitively, is foreign aid as it’s distributed now.
It is illegal in most African states to start a business without a license. And licenses are granted to or sold to those with government connections. The aid that is given to African countries to enable them to escape from the poverty trap sustains thugs like Mugabe, Abacha, and Taylor and enables them to become seriously rich.