Thursday, June 09, 2005

African debt relief

I don't fancy myself an expert on Africa, but I am curious as to why everyone is treating aid to Africa plus debt relief as the magic bullet to rampant poverty. These two initiatives, while certainly worthy, won't make a dent in African poverty. The economies of many African nations will still be a mess, and there will still be an over abundance of government corruption. In fact, I'd go so far as to say that those two factors are the root of the problem. Debt relief and aid will only sooth the symptoms for a short time.

The only way to truly help Africa in the long term is not to give the continent a fish, but rather to teach them how to fish. This is a much more difficult and time consuming task than giving away money, though, and in the short term the rewards are much more difficult to see. But in the long run, it is the only way to pull Africa out of the abyss. Do I have a plan for training Africans to be more innovative, more entrepreneurial, and more avid risk takers? Can't say that I do-as I say, I'm no expert on the continent. But unless individuals, cities, regions, and states in Africa can find their own niches in the global economy where they can successfully have strategic advantages over other parts of the world, the entire continent is going to remain under corrupt governments and mired in poverty.

Update
This Scripps Howard editorial gets it right.

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