I was always wondering about the most effective way to help move billions of people from the rut of poverty to prosperity. More philanthropy from the wealthy nations of the West? As J.W. Smith points it, with the record of corruption within impoverished countries, people will question giving them money as such ‘donations’ rarely ‘reach the target’. Building industries instead? While that approach seems to provide better results (see few examples described by Ray Avery in his book ‘Rabel with a cause‘), it still did not provide a silver bullet solution, as it does not address the roots of poverty and prosperity.
From Christian Bowe
In their book ‘Why nations fail?‘, that examines the origin of poverty and prosperity, Daron Acemoglu and James Robinson conclusively show that it is man-made political and economic institutions that underlie economic success (or the lack of it). Therefore only the development of inclusive…
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