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How to end poverty? February 22, 2014

Posted by OromianEconomist in Africa, Africa Rising, Colonizing Structure, Corruption, Development, Economics, Economics: Development Theory and Policy applications, Environment, Ethiopia's Colonizing Structure and the Development Problems of People of Oromia, Afar, Ogaden, Sidama, Southern Ethiopia and the Omo Valley, Ethnic Cleansing, Food Production, Janjaweed Style Liyu Police of Ethiopia, Land and Water Grabs in Oromia, Nubia, Ogaden, Omo, Omo Valley, Oromia, Oromia Support Group, Oromia Support Group Australia, Oromiyaa, Oromo, Oromo Culture, Oromo the Largest Nation of Africa. Human Rights violations and Genocide against the Oromo people in Ethiopia, Poverty, Self determination, Slavery, The Colonizing Structure & The Development Problems of Oromia, The Tyranny of Ethiopia, Tyranny, Uncategorized, Youth Unemployment.
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“Nations fail economically because of extractive institutions. These institutions keep poor countries poor and prevent them from embarking on a path to economic growth. This is true today in Africa, in South America, in Asia, in the Middle East and in some ex-Soviet Union nations. While having very different histories, languages and cultures, poor countries in these regions have similar extractive institutions designed by their elites for enriching themselves and perpetuating their power at the expense of the vast majority of the people on those societies. No meaningful change can be expected in those places until the exclusive extractive institutions, causing the problems in the first place, will become more inclusive.” http://otrazhenie.wordpress.com/2014/02/16/how-to-end-poverty/#

“If we are to build grassroots respect for the institutions and processes that constitute democracy,” Mo Ibrahim writes for Project Syndicate, “the state must treat its citizens as real citizens, rather than as subjects. We cannot expect loyalty to an unjust regime. The state and its elites must be subject, in theory and in practice, to the same laws that its poorest citizens are.” http://www.huffingtonpost.com/dr-mo-ibrahim/africa-needs-rule-of-law_b_4810286.html?utm_hp_ref=tw

Otrazhenie

Poverty

I was always wondering about the most effective way to help move billions of people from the rut of poverty to prosperity. More philanthropy from the wealthy nations of the West? As J.W. Smith points it, with the record of corruption within impoverished countries, people will question giving them money as such ‘donations’ rarely ‘reach the target’. Building industries instead? While that approach seems to provide better results (see few examples described by Ray Avery in his book ‘Rabel with a cause‘), it still did not provide a silver bullet solution, as it does not address the roots of poverty and prosperity.

Poverty
From Christian Bowe

In their book ‘Why nations fail?‘, that examines the origin of poverty and prosperity, Daron Acemoglu and James Robinson conclusively show that it is man-made political and economic institutions that underlie economic success (or the lack of it). Therefore only the development of inclusive…

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