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October 08, 2005

Care about the plight of Africa?

Then read this article by Andrew Rice in the current issue of The Nation. For what it's worth, I believe Jeffrey Sachs is well meaning, but utterly deluded. Economic development will not happen in Africa unless and until there are honest governments, the rule of law, security of property and acceptance of foreign investment.

This is hardly a novel opinion: the late, great economist P.T. Bauer made the point consistently from the early 1950s until his death in 2002.

October 8, 2005 at 02:30 PM | Permalink

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Comments

I said the same thing less succinctly today.

Posted by: Brent | Oct 20, 2005 10:19:30 AM

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