Denis Hancock highlighted the following article at his Reformed Angler blog today:
I think the article does a good job of describing the challenges of addressing global poverty. Debt relief is all good and well, but without strong protection of property rights and the rule of law, it will be ineffective. Property rights and the rule of law will lead to the development of capital markets. Capital markets will facilitate the construction of infrastructure and the diffusion of technological knowledge and resources. No amount of aid debt relief will accomplish a thing until there is a commitment to just economic and legal structures.
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