This is an interesting story which was linked from my favourite website right now which is this. The general idea is that we should stop worrying so much about donating aid to Africa (or other developing countries), since it hasn't made much difference and enough of it has already been 'wasted'), and we should not aim for 'fair trade' either, since this will make things worse.
The basic priciple is free-market economics, let countries trade openly, and let the market work to remove poverty, so countries can develop based on what they are good at. At the same time more aid and less debt (although welcome) will not have a lasting impact unless the trade imbalances are sorted out.
Unfortunately, aid is an easier topic to explain that trade, plus its much more marketable. Fair trade sounds better than free trade (which creates the automatic assumption that free trade is therefore unfair) too.
anyway, have a browse of the site and a read of the short article if its of interest!
1 comment:
yes!! Have you read Jeffrey Sachs' "The End of Poverty" yet?
I started the first few chapters, but I really have to concentrate on exams for now. Looking forward to reading it though, and see what he says.
Bee
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