Bureaucracy and overregulation are the greatest hurdles Africa faces on the path to prosperity, says the entrepreneur Magatte Wade. Western states should open their markets, instead of sending development aid.
Centralized systems work poorly compared to decentralized ones. Yet they often persist. We need to encourage private solutions instead of waiting for the government to help.
No matter how clear and detailed the rules are, there remains some discretionary power for officials and judges. Only comprehensive system of individual rights protects us from their disregard.
Left-wing theorists misunderstand human beings fundamentally by believing them to be determined by forces beyond their control. In truth, we are autonomous resevoirs of great potential.
Even supporters of capitalism often mistrust freedom when it comes to the economically most disadvantaged. Instead of poverty being managed from above, people need to be empowered to master their own lives.
Economist Carmen Reinhart sees heavy times ahead for the global economy, especially in low-income countries. A conversation about ballooning debt levels, policy failures, and the rise of creditor China.
