Wow this video really helps simply what issues we need to focus on for the developing world. That example for Angola because we helped perpetuate the civil war there, which postponed development till now. I believe Paul Collier is right that we need to look at the development of the poorest countries of the world as key everyone's future. He spoke of failed governance as a key reason that resource/ commodity booms work against countries. Often times producing a rentier state, the reason these countries become so bogged down in their new wealth is they are not beholden to the people who are the tax payers, but instead to foreign companies and their own interests. Globally it would help tremendously if beyond simply having an auction, that we promoted/ subsidized the diversification of economies to use that commodity wealth on growing domestic industries. PS: TED talks alone would help the whole world be more informed, but only if we have societies that don't block free ideas and where computers and the internet are cheap.
Wow this video really helps simply what issues we need to focus on for the developing world. That example for Angola because we helped perpetuate the civil war there, which postponed development till now.
ReplyDeleteI believe Paul Collier is right that we need to look at the development of the poorest countries of the world as key everyone's future. He spoke of failed governance as a key reason that resource/ commodity booms work against countries. Often times producing a rentier state, the reason these countries become so bogged down in their new wealth is they are not beholden to the people who are the tax payers, but instead to foreign companies and their own interests. Globally it would help tremendously if beyond simply having an auction, that we promoted/ subsidized the diversification of economies to use that commodity wealth on growing domestic industries.
PS: TED talks alone would help the whole world be more informed, but only if we have societies that don't block free ideas and where computers and the internet are cheap.