I think ^(link) therefore I err

Wednesday, December 27, 2006

World Economy

Thomas Sowell writes a perfect column concerning the "new" news about how all the worlds wealth is sitting in democratic, capitalistic, western societies. doh. "All you have to do is change people"
Nobody likes to see poverty in a world where technology and economic know-how already exist that could give everyone everywhere a decent standard of living.

All you have to do is change people. But have you ever tried to do that?

The quick fix is to transfer wealth. But more than half a century of trying to do that with "foreign aid" has left a dismal record of failure and even retrogression in Third World countries.

Some countries have themselves made changes that lifted them from poverty to prosperity. Indeed, the affluent countries of today were once living in poverty.

But they didn't do it with quick fixes or by turning a dangerous power over to politicians.