Africa, Capitalism and the ‘Elimination of Poverty’
“Thank goodness people are ‘exploiting’ Africa by buying things from it, by investing in it, by employing people in it,” says Leon Louw, author, policy analyst, and executive director the South Africa-based think tank The Free Market Foundation. “The worst thing that would happen is if people decide to stop exploiting Africa.”
The statement might sound provocative, but Louw is responding to a pair of critiques he hears often: That economic development is akin to exploitation and that the gap between rich and poor is growing dangerously large. But Louw says that the focus on economic inequality is a distraction from a more important metric.
“The world is experiencing the most amazing accomplishment of humanity: The virtual elimination of poverty,” says Louw. “It’s strange that as that happens, we are talking about it as if there is more of it.”
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Read the article “Africa, Capitalism and the ‘Elimination of Poverty’” on reason.com.