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Politics : Politics for Pros- moderated

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From: LindyBill	12/30/2004 2:39:14 AM
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Adam Smith Institute Blog - Ending world poverty By Madsen on Economics UK Chancellor Gordon Brown believes the coming year offers a "once-in-a-generation" chance to eradicate global poverty. He stressed more debt relief plus "a very substantial increase in resources... akin to the Marshall Plan of the 1940s". The goal is immensely worthwhile, but it is important to keep the following ideas in mind. ____ ? There are no 'causes of poverty.' It happens naturally when you do nothing. It is wealth that has causes. ? Poor countries are not poor because others are rich, but because they are not rich themselves. ? Rich countries have created nearly all the wealth they enjoy, and poorer countries could do likewise. ? Humanitarian aid is a worthwhile way of helping to tackle such things as conquest of disease and access to clean water. By contrast development aid to invest in industry is less successful and less worthwhile, especially as it is usually directed by governments. ? The gap between rich and poor countries is less important than the attainment by poor ones of enough wealth to lift them from deprivation and give them access to sufficient food, water, healthcare and education. ? The wealth-generating process is robust enough to withstand many things done wrong in a country. It cannot, however, survive genocide, civil war and socialism. ? Corruption is endemic in many poorer countries because without a vigorous economy, political and bureaucratic careers are among the few avenues open to advancement. ? Trade barriers do more harm by rich countries than all of the good they try to do. We could help counties lift themselves from poverty by buying their goods. ? Foreign investment can greatly accelerate economic growth and development. ____ The idea that we could make poverty history is a noble and inspiring one. Let us be clear-headed about it, though. Cancel their debts (which were run up by a previous generation of predatory despots) and open our markets to their goods. Help them fight AIDS/HIV and Malaria. Help everyone gain access to clean water. Help them tackle corruption and predatory government. Buy their stuff.

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