Magical places and entrepreneurial spirits is an article at Reuters about what Bono has been learning as he advocates for Africa.
Bono acknowledges that four years ago when he toured Africa with then U.S. Treasury Secretary Paul O’Neill, bringing private sector with him would never have crossed his mind.
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“I think it is bizarre that Africa got me interested in commerce,” chuckles the U2 lead singer in an interview with Reuters. “I am an activist but I looked at the mosaic of problems facing this magical place and I could see so many of the pieces intersected with commerce, trade and entrepreneurial spirit.
“And I’m saying, I believe that Africa can compete with China in terms of offering jobs to its people in the apparel sector, I believe Africa can compete with India in terms of offering jobs to people in the IT sector, if this problem of business efficiencies and strangulation of red tape and corruption can be dealt with,” he said.
Not bad economics for a rock star. All the debt forgiveness and aid in the world will never make a dent in Africa's problems until the institutions and values that make up the economic components of the free market prosperity machine are embraced: Property rights, civil rights, open markets, infrastructure, scientific rationalism, etc. To keep pouring endless amounts of gas into a broken engine is pointless.
Go for it Bono. Set the captive free from economic oppression, corruption, and statist thinking. Then we will begin to have the hope of jubilee.
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