Activity

The nineteenth-century liberals believed that abstinence was the key to wealth accumulation and thus economic development. Having acquired the fruits of their labour, people need to abstain from instant gratification and invest it, if they were to accumulate wealth. In this world view, the poor wer…

[...] the government picking winners may hurt some business interets but it may produce a better outcome from a social point of view.

[...] The Japanese and German cultures were transformed with economic development, as the demands of a highly organized industrial society made people behave in more disciplined, calculating and cooperative ways. In that sense is more of an outcome, rather than a cause, of economic development. It …

[..] rich countries do not suffer from ethnic heterogeneity not because they do not have it but because they have succeeded in nation-building [...]

Since the late 1970s (starting with Senegal in 1979), Sub-Saharan African countries were forced to adopt free-market, free-trade policies through the conditions imposed by the so-called Structural Adjustment (SAPs) of the World Bank and the IMF (and the rich countries that ultimate control them). […