Africa Needs Free Market Economies | Marian L. Tupy | Cato Institute: Commentary

Africa Needs Free Market Economies | Marian L. Tupy | Cato Institute: Commentary: "The sad truth is that humanitarian aid, be it dispensed by Western governments or by Western philanthropists, can only alleviate some of the symptoms of poverty. Healthier and better fed Africans will still face the challenge posed by political instability and stagnating economies."

"In countries with state control of the economy, opposition tends to weaken. Those who disagree with the ruling party soon find themselves without a job and without an income. In contrast, a free economy provides for diffusion of wealth and power. It also provides for higher rates of growth. Thus, between 1966 and 2006, Botswana's average annual growth rate was 7.22 percent — among the world's highest. Its income per capita adjusted for inflation and purchasing power parity rose from $671 in 1966 to $10,813 in 2005.

The work of magnanimous philanthropists like Bill Gates will hopefully alleviate some suffering in Africa. But if the world's richest people want to help Africa escape poverty, they should find ways of supporting genuine economic liberalization on the African continent."